College Ready Test

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What does the acronym FAFSA mean?

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Free Application for Federal Student Aid

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Does it cost money to file the FAFSA?

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No

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How often do you complete FAFSA?

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Once a year, every year you are attending school

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Grants are...

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Free Money

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What is the definition of a scholarship?

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Money that does not need to be paid back

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State and community colleges are...

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much cheaper than private schools

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A grant is based off of: want, school, need, your job

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need

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What are ways to avoid paying or minimizing your student loan debt? Options: obtain Scholarships/ Financial Aid
 join debt relief government programs make timely payments on loan/ get a public service job, government or non profit., buy food and forget about it, make more late payments, take out another loan to pay off that loan

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obtain Scholarships/ Financial Aid
 join debt relief government programs make timely payments on loan/ get a public service job, government or non profit.

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Which of the following statements is TRUE about the advantages of federal student loans compared to private student loans? Options: Federal student loans generally offer higher interest rates which remain fixed over the term of the loan, Federal student loans do not need to be repaid if the borrower runs into financial difficulty and goes bankrupt, Federal student loans require a credit check, Federal student loans offer more flexible repayment terms

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Federal student loans offer more flexible repayment terms

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A federal student loan is provided by...

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US Federal government