Paying for College. Part 3

Which of the following statements is TRUE about the value of a college education?

• A high school graduate can expect to earn about the same as a college graduate.

• A college graduate can expect to earn, on average, about $40,000 more than a high school graduate over a career.

• If you start college but don't finish, your pay will be closer to the level of a high school graduate than the level of a college graduate.

• College is only valuable if you want to increase how much you earn.

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

• Lower lifetime earnings

• Lower interest rates on future loans

• Expanded professional and social netowrk

• Guaranteed starting salary of $50,000 after graduation

All of the following are costs of going to college EXCEPT...

• Tuition and fees

• Room and board

• Textbooks and school supplies

• Scholarships and grants

Which is TRUE about sticker price and net price?

• Net price is the published cost of going to a school

• Sticker Price is the published cost of going to a school

• Net price is the sticker price minus scholarships & grants

• Sticker price is the net price minus scholarships & grants

A notice that lists the types and amounts of aid for which you are eligible

• expected family contribution
• FAFSA
• grace period
• award letter

The amount your family will be able to help pay toward your education

• cost of attendance
• financial aid
• delinquent
• expected family contribution

The sum of your educational costs which typically includes tuition/fees, books/supplies, room/board, etc.

• cost of attendance
• default
• expected family contribution
• award letter

What does it mean when a student loan is "forgiven"?

• You get a letter of apology from the government
• You don't have to keep going to classes to get your degree
• You don't get as much money as your were previosuly promised
• You don't have to pay back the remainder of your loan debt

A federal student loan is provided by...

• Private companies
• The state you live in
• US Federal government
• Investors

Which of the following statements is TRUE about the advantages of federal student loans compared to private student loans?

• Federal student loans generally offer higher interest rates which remain fixed over the term of the loan
• Federal student loans do not need to be repaid if the borrower runs into financial difficulty and goes bankrupt
• Federal student loans require a credit check
• Federal student loans offer more flexible repayment terms