Financing Higher Ed Review

True or False: A college graduate can expect to earn, on average, about $1,000,000 more than a high school graduate over a career. 

• True

• False

Which of these options depicts the types of financial aid from MOST attractive to LEAST attractive? 

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

• Grants/Scholarships, Work-study, Federal Loans, Private Loans

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

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

Which form must you file in order to qualify for financial aid?

• FAFSA

• Student Aid Report

• EFC

• Form 1099

True or False: When filing your FAFSA, you will need to provide proof of employment.

• True

• False

How much does it cost to file the FAFSA? 

• Nothing: It's free

• $100

• 3% of your total loan amount

• Free year 1, then $9.99 after that

True or False: you should file your first FAFSA in October or November of your last year of high school

• True

• False

As you make decisions during college, you should focus on... 

• Focus ONLY on your studies

• minimizing student loan debt at all costs

• Balancing every part of your life to make the most out of the entire experience

• Having fun - YOLO

True or False: When figuring out a budget once you get to college so that you don't overspend each month, you should have a conversation with your parents beforehand, so you understand who will pay for which monthly expense.

• True because they may be able to help especially during your first year of college

• False because you shouldn't rely on your parents at all for money when you're in college

What is the expense called that pays for the instruction at a school?

• Tuition

• Room and Board

• Grants

• Fees

True or False: a course of study at a career or technical school typically takes longer to complete than a degree program at a university.

• True

• False

Answer explanation

It typically only lasts a few months to a year or more - university programs typically take anywhere from 3-5 years