Paying for College Flashcard

Front

During a period of financial hardship, you can apply for this to pause student loan payments while interest still accrues…

Back

Forbearance

Front

Which of these options lists the types of financial aid from MOST attractive to LEAST attractive?
Options:
Private loans, Federal loans, Work-study, Grants/Scholarships,
Grants/Scholarships, Work-study, Federal loans, Private loans,
Work-study, Grants/Scholarships, Federal loans, Private loans,
Federal loans, Grants/Scholarships, Work-study, Private loans

Back

Grants/Scholarships, Work-study, Federal loans, Private loans

Front

In order to qualify for financial aid, which application must you submit?

Back

FAFSA

Front

Which of the formulas below correctly calculates net price?
Options:
Sticker price - student loans = net price
Grants and scholarships + student loans = net price
Sticker price - grants and scholarships = net price
Sticker price + grants and scholarships = net price

Back

Sticker price - grants and scholarships = net price

Front

Which of the following is considered a direct cost of attendance? Travel expenses, Cell phone bill, Tuition, Food and entertainment

Back

Tuition

Front

Which of the following ways to pay for college is MOST likely to be based on someone's financial need? Direct PLUS Loans, Grants, Scholarships, Federal Subsidized Loans

Back

Grants

Front

How much does it cost to file the FAFSA?

Back

It is free

Front

Typically, when should you first file the FAFSA? Options: After you finish freshman year of high school, October of your last year of high school, After you receive your Student Aid Index, Once you are ready to start repaying your student loans

Back

October of your last year of high school

Front

Your school counselor is a great resource for all of the following EXCEPT… Providing information about scholarships and grants you wouldn't be able to find elsewhere, Suggesting specific scholarship and grant opportunities based on your personal strengths and accomplishments, Comparing different colleges, their costs of attendance, and financial aid offers

Back

Negotiating lower interest rates with your lenders

Front

Each of the following organizations offers grants to college students EXCEPT… the federal government, colleges, private companies, FAFSA

Back

FAFSA