WorksheetsVOCABULARY
Total questions: 40
Worksheet time: 28mins
Which option describes a program where students earn money for education expenses through part-time campus jobs?
Work study
Subsidized loan
Interest accrual
Scholarship
A student borrows money for education and must pay it back over time. What is this borrowing called?
Scholarship
Student Loan
FAFSA
Loan forgiveness
Which term refers to a program that can cancel part or all of a borrower’s remaining student loan balance after meeting certain service or payment requirements?
Loan forgiveness
Work study
Unsubsidized
Deferment
Fill in the blank: FAFSA is sent to (a) , states, and the government to decide how much aid you need for college.
True or False: The FAFSA is used to decide what classes you will take in college.
True
False
Fill in the blank: The FAFSA helps decide how much (a) you need for college.
Recall: In college planning, what is a scholarship according to the text?
A loan that must be repaid after graduation
Free money given to students to help with college costs
A part-time job offered by the college
A discount only for textbooks
Skill/Concept: Which scenario best matches a common scholarship criterion listed in the text?
Winning a video game tournament unrelated to school
Maintaining strong grades in core classes
Skipping extracurricular activities to study less
Buying school merchandise from the campus store
Strategic Thinking: A student is great at soccer, earns solid grades, and participates in community activities. Based on the text’s criteria, which two areas should the student highlight first when searching for scholarships, and why?
Which university office is named as receiving scholarship payments rather than the student?
Registrar
Bursar
Admissions
Housing
Which sequence best models the payment process described?
Scholarship -> Student -> Bursar
Scholarship -> Bursar -> Student account updated
Student -> Scholarship -> Bursar
Bursar -> Scholarship -> Student
According to the guidance, why do scholarship creators offer awards?
To advertise their organization without spending money
To help people who will do great things because it is an investment
To require students to work for the sponsor
To collect applicants’ personal data for marketing
Explain how responsibility and punctuality affect the benefits of work study.
Which phrase from the guidance indicates a persuasive tactic you should watch for when offered loans?
Guaranteed approval
Trick you into paying more interest later
Limited-time offer
Lowest monthly payment
Read the statement: "Subsidized loans: the interest rate doesn’t change; you don’t have to start paying until 6 months after graduation; eligibility is based on income." Which feature best describes why a subsidized loan can help new graduates manage their finances immediately after college?
Payments begin right away, building credit sooner
Deferred payments for 6 months allow time to find employment
Interest rate increases with market changes to lower costs
Eligibility is guaranteed for all students regardless of income
What is a major advantage of receiving Financial Aid?
It increases the national debt.
It has to be repaid by everyone, regardless of circumstances.
It can make education more accessible.
It guarantees a high-paying job after graduation.
What's a student loan
when you borrow money from a organization to help you out for college
I don't know
when you borrow money from the government and eventually have to pay back
a lender who uses deceptive, unfair, or fraudulent practices on borrowers who are desperate for cash
depreciating loan
predatory lending
home equity loan
fradulent
FAFSA=Free __________ for Federal Student Aid
Application
Advertisement
Allowance
Admission
What is a potential disadvantage of taking out student loans as Financial Aid?
They provide immediate access to education.
They may lead to long-term debt.
They reduce the cost of education.
They offer flexible repayment options.
Which of the following statements is usually true about individuals who are financially literate?
They have high debt and low savings
They understand the basics of personal finance and money management
They almost always choose stocks and bonds that increase in value
They achieve all of their financial goals
What is a key criterion for eligibility when applying for federal student aid via the Free Application for Federal Student Aid (FAFSA)?
Must have a driver's license
Must be a resident of a specific state
Must be a U.S. Citizen or eligible noncitizen
Must have a business
The knowledge and skill set necessary to be an informed consumer and manage finances effectively
financial literacy
budgeting
What is the full form of FAFSA? Hint: It's a FREE service.
(a)
Which motto does Dave Ramsey always advocate?
“In order to live like no one else, you have to live like no one else”
“Credit cards stink, just ask a friend”
“Live life to the fullest”
“Spending money is just part of life, everyone does it”
Adults need to know their 9 digit social security number by heart, do you know yours?
Yes
No
What is Financial Literacy?
Knowing how to manage money
Savings and avoid financial issues
Credit card debt
Building credit
A grant or payment made to support a student's education, awarded on the basis of academics or other achievements
Grant
Scholarship
Tuition
Loan
You were a high school athlete. The university is paying your college tuition while you play on their team.
grant
loan
scholarship
work study
A student loan is a financial assistance that...
does not have to be paid back after graduation
has to be paid back including interest after graduation
the student saved before attending school
requires the student to work while attending school
What is FAFSA?
Flying Astronauts Frolicking in Space Adventures
Federal Alliance for Student Aid
Furry Aardvarks Find Socks Anyway
Free Application for Federal Student Aid
You borrowed money through a federal program to pay for your education this year.
A scholarship
A grant
Work Study
Loan
Which is the best way to lower credit utilization to an acceptable level?
Increase your credit card balance
Apply for more credit cards
Decrease your credit card balance
Close credit cards
What is the second principle of personal finance according to Dave Ramsey?
Accumulate as much debt as possible to leverage your financial opportunities.
Avoid all types of investments and savings to focus on spending freely.
Develop a well-structured plan to get out of debt and live a debt-free life.
Continuously increase your credit card debt to build a high credit score.
