College Budget and Tuition

What is the average cost of college tuition in the United States? (Choose the best answer)

• Free

• One million dollars

• Varies

• Fixed amount of $10,000

What are the different types of financial aid options available for college students?

• Borrowing from friends and family

• Credit card debt

• Scholarships, grants, work-study programs, and student loans

• Personal savings

Going to community college for two (2) years is a way to save on college expenses.

• False

• True

What is the difference between a grant and a loan?

• A grant is a type of loan with higher interest rates

• A loan is a type of grant that does not need to be repaid

• A grant is a sum of money that needs to be paid back with interest

• A grant is a gift of money that does not need to be repaid, while a loan is a sum of money that is expected to be paid back with interest.

What are some common scholarship opportunities for college students?

• Scholarships for students with red hair

• Scholarships for left-handed students

• Scholarships for students who can juggle

• Academic scholarships, athletic scholarships, need-based scholarships, merit-based scholarships, specific scholarships

Choose the answer(s) that can help you reduce college costs

• Choose the right meal plan

• Take dual enrollment/AP in high school to earn credit

• Buy used textbooks instead of new ones

• All of the choices

• Getting a part-time job

A grant is considered to be financial aid that is not to be repaid and based on financial need.

• True

• False

How can students reduce their college expenses?

• Spend extravagantly on unnecessary items

• Ignore financial aid opportunities

• Apply for scholarships, work part-time, attend community college, live frugally

• Take out multiple high-interest loans

What are work-study programs and how do they help with college expenses?

• Work-study programs are full-time employment opportunities for students

• Work-study programs provide part-time employment opportunities for students to earn money to help pay for college expenses.

• Work-study programs are unpaid internships for students

• Work-study programs are scholarships for students

What are some alternative ways to pay for college tuition?

• Scholarships, grants, work-study programs, student loans, and savings

• Selling personal belongings

• Borrowing from friends and family

• Credit card debt