Paying for College Flashcard

Front

Are scholarships the only way to receive financial aid?

Back

False

Front

Which of the following types of loans are considered the “best” loans? Private lender loans, Unsecured loans, Subsidized federal loans, Unsubsidized loans

Back

Subsidized federal loans

Front

What should you do once you receive financial aid packages from colleges?

Back

Compare all offers, consider how much you will have to repay while in college and repayment schedule after graduation.

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

When does the FAFSA filing period open every year? (with the exception of 2023)

Back

October 1st

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 is TRUE about the FAFSA? Options: You only need to file the FAFSA 1x in your college career, Your parents must earn below a set amount for you to apply, You need to file it at the start of every quarter/semester, There is no cost to file the FAFSA

Back

There is no cost to file the FAFSA

Front

You are an education major, and part of your financial aid money is the money you earn as a tutor.

Back

work study

Front

You are majoring in chemistry and entering your third year of college. You receive money from the federal government through a program that awards financial aid to students majoring in science, technology, engineering and math.

Back

scholarship