Paying for College Study Guide

Front

What is a benefit of going to college and having a college degree? Options: Lower lifetime earnings, Lower interest rates on future loans, Expanded professional and social network, Guaranteed starting salary of $50,000 after graduation

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

When does the FAFSA filing period open every year?

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

When filing the FAFSA, you are eligible for all of the following EXCEPT: Grants and Scholarships, Work-Study, Federal Student Loans

Back

Private Student Loans

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

Which is TRUE about the Student Aid Index (SAI)? Options: It's the cost of filing the FAFSA, It's how much you & your family are expected to pay for college, It's another term for "net price", It's how much your parents must contribute towards college

Back

It's how much you & your family are expected to pay for college

Front

Which of the following is the correct flow of submitting/receiving these documents? FAFSA Submission Summary > FAFSA > Financial Aid Package, Financial Aid Package > FAFSA Submission Summary > FAFSA, FAFSA > Financial Aid Package > FAFSA Submission Summary, FAFSA > FAFSA Submission Summary > Financial Aid Package

Back

FAFSA > FAFSA Submission Summary > Financial Aid Package