Worksheets6.7 Paying for Higher Education
Total questions: 41
Worksheet time: 23mins
2
4
6
8
1784
1884
1984
2084
Money awarded to students that does not have to be repaid and is based on academic or other achievements.
Loan default
Financial need
Forbearance
Grant
Scholarship
Financial aid that may be given for many purposes, not necessarily just for education. Does not have to be repaid.
Grant
Financial need
Forbearance
Loan default
Scholarship
True
False
True
False
SAI stands for
Student Aid Index
Student Aid Indicator
True
False
Free Assistance for Federal Student Aid
Free Attendance for Federal Student Aid
Free Armadillo for Federal Student Aid
Free Application for Federal Student Aid
It's not a big deal, you were just a kid when you borrowed the money.
Your wages could be garnished and your credit score will go down. You will lose eligibility for future aid.
You borrowed money through a federal program to pay for your education this year.
scholarship
grant
work study
loan
You work in an office on campus after class every day.
scholarship
grant
work study
loan
Your parents borrowed money through a US government program for parents of college students.
scholarship
grant
work study
loan
You were raised by a single parent. Your family income qualified you to receive a need-based award from the US government.
scholarship
grant
work study
loan
You work 20 hours per week in the library at your college.
scholarship
grant
work study
loan
What is a benefit of going to college and having a college degree?
Lower lifetime earnings
Lower interest rates on future loans
Expanded professional and social netowrk
Guaranteed starting salary of $50,000 after graduation
All of the following are costs of going to college EXCEPT...
Tuition and fees
Room and board
Textbooks and school supplies
Scholarships and grants
Why should you file the FAFSA as early as possible?
It can help your chances of being accepted into schools
State 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
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
True or False: Going to community college is a good financial option for students who didn't get into their dream school the first time they applied.
True
False
True or False: If your family is considered low income, you may see reductions in your tuition costs.
True
False
True or False: Going to community college is a good financial option for students who aren't quite sure what degree they would like to pursue.
True
False
Which of the following statements is false?
Millions of people can't afford to make their student loan payment every month
Our culture accepts student loan debt as normal and sometime even refers to it as good debt.
Debt is owing anything to anyone for any reason
A student loan is an award
Which of the following statements is false?
On-the-job training often combines a professional trainer, hands -on activities and formal classroom training.
Students who are looking to learn specific skills can look into free or low -cost certifications found online, at community colleges, or through government-funded programs.
An associateʹs degree is a two-year degree that can offer specialized training and a flexible schedule that allows you to work while you earn your degree.
All high-paying careers require a four-year college degree.
You'll only need to complete the FAFSA once during your college education.
True
False
A four-year degree is necessary regardless of which career you're entering.
True
False
Can I go to trade school right after high school?
Yes
No
Which degree do you leave community college with?
Bachelors
Masters
Associates
PhD
There are no loans available for people who want to attend a trade school.
True
False
financial aid
fee
room and board
loan entrance counseling
The SAI is
a number used to determine how much federal student aid the student could receive
a number used to determine how much academic scholarship a student could receive
Part time employment to earn money while in school.
Scholarships
Grants
Work‐Study
These loans are funded by the federal government.
Low‐cost federal loans
Higher cost private loans
Who is eligible to receive Direct Subsidized loans?
Graduate students
Professional students
Undergraduate students
Students enrolled less than half-time
How much does it cost to file the FAFSA?
It is free
It is free the first time you file, but costs $9.99/year thereafter
It is 2% of your total loan amount
$50
Typically, when should you first file the FAFSA?
After you finish freshman year of high school
October or November of your last year of high school
After you receive your Student Aid Index
Once you are ready to start repaying your student loans
Which of the following is TRUE about the Student Aid Index (SAI)?
The lower your SAI the more financial aid you are eligible for
The higher your SAI the more financial aid you are eligible for
The lower your SAI the less financial aid you are eligible for
Your SAI does not impact how much financial aid you are eligible for
What is the difference between a subsidized loan and an unsubsidized loan?
A subsidized loan has interest paid by the government during certain periods, while an unsubsidized loan adds interest while you are in school.
