Paying for College

Front

What is a benefit of going to college and having a college degree?

Back

Expanded professional and social network

Front

All of the following are costs of going to college EXCEPT...
Tuition and fees
Room and board
Textbooks and school supplies
Scholarships and grants

Back

Scholarships and grants

Front

Which is TRUE about sticker price and net price?

Back

Sticker Price is the published cost of going to a school

Front

Why should you file the FAFSA as early as possible?

Back

Aid is given out on a first-come, first-serve basis

Front

How do scholarships and grants differ?

Back

Grants are need-based; scholarships are merit-based.

Front

Which of the following is TRUE about how you get your financial aid? All financial aid is paid directly to you in one payment, All financial aid is paid to you in installments, Aid is 1st applied to your account; you get the rest, The school receives all of your financial aid

Back

Aid is 1st applied to your account; you get the rest

Front

Which of the following is TRUE about federal and private student loans? Private loans may be subsidized; federal ones are not, Both types offer the same repayment plans, Private loans always offer fixed interest rates, Fed. loans don't have prepayment penalties; private ones may

Back

Fed. loans don't have prepayment penalties; private ones may

Front

How can you lower the total amount you pay in student loans?

Back

Make interest payments during your grace period.

Front

If you select a repayment plan with a longer term for your loans...

Back

You will have a smaller monthly payment

Front

Which is TRUE about loan payments? Options: $ goes 1st towards the principal, then the accrued interest; Interest rate has little impact on total cost of the loan; Payments are not split between interest and principal; Interest can be added to the principal if it goes unpaid

Back

Interest can be added to the principal if it goes unpaid