Everfi - Financing Higher Education Modules 1-3

Front

What is the main difference between loans and scholarships/grants?

Back

Loans must be paid back, while scholarships and grants do not.

Front

Why might choosing the higher education institution with the cheapest sticker price be misleading?

Back

More expensive schools may be cheaper once the net cost has been determined.

Front

What is the importance of considering scholarships and grants before loans?

Back

Scholarships and grants are free money that do not need to be paid back.

Front

What does a positive return on investment for higher education mean?

Back

It means your earnings potential is higher than the cost of your education.

Front

Where do federal loans come from?

Back

Federal loans are from the government.

Front

What are scholarships?

Back

Scholarships are financial awards that do not need to be repaid.

Front

What are grants?

Back

Grants are funds provided by the government or organizations that do not need to be repaid.

Front

What is a sticker price in higher education?

Back

The sticker price is the published tuition and fees of a college or university.

Front

What is net cost?

Back

Net cost is the actual amount a student pays after scholarships, grants, and financial aid are applied.

Front

What is the significance of interest rates on loans?

Back

Interest rates determine the cost of borrowing money; lower rates mean less money paid back.