WorksheetsPaying For College
Total questions: 32
Worksheet time: 41mins
Money awarded to students that does NOT need to be repaid, often based on need
Loan
Grant
Savings
Work Study
Money awarded to students based on achievement, does NOT have to be repaid
Grant
Loan
Work Study
Scholarship
Money borrowed that has to be paid back with interest
Grant
Loan
Work Study
Scholarship
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
If you select a repayment plan with a longer term for your loans...
You will have a larger monthly payment
You will have a smaller monthly payment
You will pay less in interest
You will pay the same amount in interest
Which of these is a good strategy when taking out student loans?
Only borrow what you actually really need to.
Take out as much money as possible so that you don't have to stress about money while in school.
Only borrow money from banks instead of the government.
Take out a lot of loans and then declare bankruptcy so that you don't have to pay them back.
It is possible to apply for hundreds of scholarships
true
false
All scholarships require a high GPA
true
false
All scholarships come from the government or the college you choose.
True
False
The government will provide some free money for college to kids with low family income.
True
False
Some colleges will give full scholarships to kids with a low or even medium family income.
True
False
What is a form prepared annually by current or prospective college students to determine their eligibility for financial aid?
Grants
Free Application For Federal Student Aid (FAFSA)
Interest Rate
Loan Servicer
What is student aid coming from the state or federal government, the college itself, or from private sources that does not need to be repaid?
Pell Grant
Principal
Promissory Note
Grants
What is the largest form of student aid in the country, federal aid programs come in the form of government grants, loans, and work-study opportunities?
Pell Grant
Principal
Promissory Note
Federal Student Aid
You entered your painting in a contest and won $750 to pay for your college expenses.
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
You are going to school to study voice performance, and you receive $1000 per semester because you sing in the college choir.
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 receive a $1000 award to help pay for college from a local community organization in recognition of your volunteer activities.
scholarship
grant
work study
loan
Your other financial aid did not cover all of your college costs, so you borrowed money from a private lender.
scholarship
grant
work study
loan
You work in the college's computer lab three days per week.
scholarship
grant
work study
loan
Your PSAT scores qualified you as a National Merit Scholar. Several schools have offered you free tuition.
scholarship
grant
work study
loan
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 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.
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
FAFSA=Free __________ for Federal Student Aid
Application
Advertisement
Allowance
Admission
