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WorksheetsPaying for College Quiz
Total questions: 34
Worksheet time: 34mins
All of the following are costs of going to college EXCEPT...
Tuition and fees
Room and board
Textbooks and school supplies
Scholarships and grants
When does the FAFSA filing period open every year?
January 1st
June 1st
October 1st
December 1st
Why should you file the FAFSA as early as possible?
It can help your chances of being accepted into schools
Aid is given out on a first-come, first-serve basis
You're guaranteed to get more merit-based scholarships
You'll get a lower interest rate on federal student loans
What kinds of aid are you eligible for by filing the FAFSA? (hint: choose 3 correct answers)
Grants and Scholarships
Private Student Loans
Work-Study
Federal Student Loans
How do scholarships and grants differ?
Scholarships are need-based; grants are merit-based
Grants are private forms of aid; scholarships are federal
Grants are need-based; scholarships are merit-based
They're not different; they are one and the same
Which is TRUE about the FAFSA?
You only need to file the FAFSA 1x in your college career
Your parents must earn below a set amount for you to apply
You need to file it at the start of every quarter/semester
There is no cost to file the FAFSA
You are an education major, and part of your financial aid money is the money you earn as a tutor.
scholarship
grant
work study
loan
You are majoring in chemistry and entering your third year of college. You receive money from the federal government through a program that awards financial aid to students majoring in science, technology, engineering and math.
scholarship
grant
work study
loan
You receive $500 from the local cultural society.
scholarship
grant
work study
loan
Your father lost his job and the family's income became much lower. You receive money from the government to pay for college.
scholarship
grant
work study
loan
You work in an office on campus after class every day.
scholarship
grant
work study
loan
You were a high school athlete. The university is paying your tuition while you play on the college team.
scholarship
grant
work study
loan
Your mom works for a company that will pay 50% of your tuition at any in-state public college.
scholarship
grant
work study
loan
The rate charged for borrowing money usually
expressed as a percent of the amount borrowed
Exchange Rate
Federal Rate
Interest Rate
Mortgage Rate
The maximum time period over which you must repay your student loan -- currently between 10 and 30 years for Federal loans
Lifetime
Repayment Period
Prepayment Period
Loan Term
A letter that outlines your financial aid package
from the college(s) to which you applied, detailing your
federal, state, institutional and private aid
Acceptance Letter
Cost of Attendance Letter
Award Letter
Delinquency Letter
9. Arrange the steps in the financial aid process in the proper order from first step to last step.
I) Review Student Aid Report
II) Get tax information from two years prior
III) File FAFSA
IV) Receive Financial Aid AWard letter from colleges where you have been accepted
III > I > II > IV
II > III > I > IV
II > I > III > IV
I > III > II > IV
What does FAFSA stand for?
Federal Application for Free Student Aid
Financial Application for Free Student Aid
Financial Appeals for Fixed Subsidized Assets
Free Application for Federal Student Aid
The COA (Cost of Attendance) includes all of these except:
Books & Supplies
Housing & Transportation
Gas & Car Insurance
Tuition & Fees
On this type of loan, the government will pay the interest on your student loan while you are in college and for the first 6 months after you graduate from college.
Subsidized Loan
Unsubsidized Loan
Loans are money you have to pay back.
True
False
What is work-study?
A balance between work life and school life.
Getting paid to study.
An on-campus job.
Working at Starbucks while attending college.
How often do you need to complete the FAFSA?
Every year.
One time.
Every other year.
Prior-prior year.
To earn this, you must complete a program that is at least two, but less than four, years of college usually at a community or technical college. Typically 60 credit hours.
Associate's Degree
Bachelor's Degree
Master's Degree
Doctorate
To earn this, you must complete a Bachelor's degree and a Graduate degree, which usually only takes two years to complete
Associate's Degree
Bachelor's Degree
Master's Degree
Doctorate
The amount colleges charge for each hour of class time, not including the costs of books and fees
Room and Board
Tuition
Course Fees
None of the above
What is the main objective of a well-written professional resume?
To expand your social media contacts
To get a good grade from your teacher
To get an interview with a perspective employer
To get a response from a fellow employee
You work 20 hours per week in the library at your college.
A scholarship
A grant
Work Study
Loan
