WorksheetsFinancial Literacy Review
Total questions: 11
Worksheet time: 6mins
A subsidized loan is when _________ pays the interest on a loan while you're in school.
the government
your institution
you
your parents
_______ is provided by your institution.
Financial Aid
Institutional Aid
Administrative Aid
FAFSA
Which of the following is NOT a characteristic of a Federal Work Study
Must be an on-campus position
Government funded
Applies to both full-time and part-time students
Can be a collaboration with campus partners
When can you apply for scholarships at AUM?
Summer
Spring
Fall
Only when you first apply
What types of financial aid do not need to paid back?
Scholarships
Grants
Subsidized loans
Unsubsidized loans
Which of the following is an example of an indirect college cost?
Textbooks
Maintenance Fee
Administrative Fee
Activity Fee
Federal loans have ____ interest rates than private or bank-based loans.
Higher
Lower
How long does a typical grace period last for student loans?
Six weeks after graduation
One month after graduation
Six months after graduation
Three months after graduation
You must renew your FAFSA every academic
(a)
(blank) temporarily halts or reduces student loan payments for up to 12 months. However, interest continues to accrue on the loan.
Loan forbearance
Loan deferment
Loan consolidation
Loan Forgiveness
What elements are NOT considered when you fill out the FAFSA?
US Citizenship
Academic Achievement
Financial Need
Size of household
Years in school
