WorksheetsCollege Financial Literacy
Total questions: 13
Worksheet time: 11mins
A subsidized loan is when (a) pays the interest on a loan while you're in school.
What is institutional aid?
Aid provided by your college.
Aid provided by the federal government.
Aid provided by your workplace.
Aid provided by your family.
When is a student eligible for a Parent Plus Loan?
If a student doesn't want to take out a loan themselves.
If a parent decides to return to college.
If financial aid has already been applied and doesn't cover all of your costs.
If the student is a dependent and can't take out loans.
Which of the following is NOT a characteristic of a Federal Work Study?
Government funded
Only applies to full-time students
Must be an on campus job
Can be a collaboration with campus partners
When can you apply for scholarships at AUM?
Fall
Summer
Spring
Only when you apply
What type of financial aid DOESN'T need to be paid back?
(a)
Which of the following is an example of an indirect college cost?
Activity Fee
Technology Fee
Meal Plan
Textbooks
Higher interest rate
Can be need-based or merit-based
Lower interest rate
Based solely on financial need
How does a typical grace period last for student loans?
Six months after you graduate.
Three months after you graduate.
A year after you graduate.
There isn't a grace period.
True or false: You have to renew your FAFSA every academic year.
True
False
(blank) temporarily halts or reduces student loan payments for up to 12 months. However, interest continues to accrue on the loan.
Loan Forgiveness
Loan Forbearance
Loan Deferment
Loan Consolidation
Which of the following are examples of direct college costs?
Tuition
Student Health Fee
Administrative Fees
Gas
What elements are NOT considered when you fill out the FAFSA?
Financial Need
US Citizenship
Dependency Status
Academic Achievement
Enrollment in a College/University
