How to Pay For College

What was the first tip given on how to pay for college?

• Go to the bank and get a loan

• Ask your parents

• Fill out FAFSA

• Ask friends and relatives for help at graduation

You do need to wait until you are a senior to search for scholarships.

• TRUE

• FALSE

• Could be either

By filling out the FAFSA, it puts you in the running to receive financial aid, grants, work-study opportunities and even student loans.

• TRUE

• FALSE

• Eh kinda both

Which one below is a benefit to starting out at a community college first?

• Higher cost, larger class sizes, and rigid schedules
• Less support, limited resources, and less opportunity for advancement
• Limited course offerings, less experienced instructors, and less transferable credits
• Lower cost, smaller class sizes, and flexible schedules

A study found that high school graduates who do not complete the FAFSA, are leaving behind what?

• billions of dollars in Pell Grant money

• College acceptance opportunities
• Job opportunities
• Scholarship opportunities

A college job checks multiple boxes like what?

• potentially valuable connections

• friends you make forever

• independence from teachers

• long lines at unemployment

The typical family covers 45% of college costs by doing what?

• borrowing from a bank

• selling items on Ebay

• dipping into savings

• asking family for money

When considering a loan for college, as a rule of thumb, aim for student loan payments that do not exceed what?

• Your annual income before taxes

• 10% of projected after tax monthly income your first year out of school

• 20% of projected after tax monthly income your first year out of school

When shopping for a loan for college, look for the lowest interest rate as well as the most generous _____ ____.

• borrower protections

• loan amount
• application fee
• credit limit

Remember after you graduate, you'll have to pay back any money you borrowed. Many loans will accrue ____ over time.

• debt
• savings
• wealth
• interest