Financial Literacy Chapter 7 College Planning

Many high schoolers get so caught up in the idea of the college experience that they don't think critically about ...

• Their high school GPA

• How their college choice will affect their financial future

• Their dream job

• What requirements they need to get into college

Student loans are a type of "good" debt.

• True

• False

Part of making a plan to _________________ involves searching for scholarships, saving, and talking with your family about what kind of financial help you'll get

• pay cash for college

• live in the dorm

• take out a student loan

• get good grades

You can fund your education by finding the right mix of _________, __________, and ___________.

• cash, loans, grants

• grants, scholarships, work

• work, loans, cash

• scholarships, trust funds, federal aid

Ask yourself, "Do I need this _________ for my _______? " before you start applying to schools.

• loan; future

• grant; job

• degree; career

• Career; college

What's a better question to ask instead of, "Where do I want to go to college?"

• "What do I want to do for a career?"

• "How do I get into college?"

• "Where do I want to live?"

• "Do I want to go to college?"

It takes the average person ___________ to pay off their student loan debt.

• 20 years

• 10 years

• 5 years

• 2 years

Private student loans typically have a higher interest rate than federal student loans.

• True

• False

Getting good grades and scoring well on college entrance exams give you a better chance or

• Going to an out-of-state college

• Getting a scholarship

• Getting an interview

• Graduating early

Since federal funding is often awarded on a first-come, first-served basis, you'll be more likely to get financial help by filling out your FAFSA as soon as possible.

• True

• False