FINE PRINT: Financial Aid Package

FINE PRINT: Financial Aid Package

9th - 12th Grade

11 Qs

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FINE PRINT: Financial Aid Package

FINE PRINT: Financial Aid Package

Assessment

Quiz

others

9th - 12th Grade

Practice Problem

Hard

Created by

Mr Nash

Used 1+ times

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11 questions

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1.

MULTIPLE CHOICE QUESTION

10 mins • 1 pt

1. After reviewing Financial Aid Offer #1, what question should you ask the financial aid representative regarding important information that is not available in the offer?

What calendar year is this financial aid offer for?
What is the school’s cost of attendance?
How much will I receive in college grants?
How do I accept or decline this aid offer?

2.

MULTIPLE CHOICE QUESTION

10 mins • 1 pt

2. How much annual aid are you being offered in Offer #1 that you do not have to pay back or earn through work?

$73,332 (Federal Loans + Work Study + Grant + Family Financing Option)
$44,562 (Family Financing Option)
$25,770 (Federal Loans + Grant)
$20,270 (Grant)

3.

MULTIPLE CHOICE QUESTION

10 mins • 1 pt

3. Financial Aid Offer #1 includes a “Family Financing Option”? Which statement best describes this type of aid?

This option is gift aid and does not need to be repaid.
It is a reflection of options available to finance the remaining cost of attendance.
It is a loan available through the federal government which requires a family member to cosign.
It is a type of scholarship available to students who have another family member also attending the university.

4.

MULTIPLE CHOICE QUESTION

10 mins • 1 pt

4. What is the estimated annual Cost of Attendance in Offer #2?

$28,013
$15,888
$14,007
$12,125

5.

MULTIPLE CHOICE QUESTION

10 mins • 1 pt

5. How much annual aid are you being offered in Offer #2 that you do not have to pay back?

$23,368
$15,946
$7,422
$4,645

6.

MULTIPLE CHOICE QUESTION

10 mins • 1 pt

6. In Financial Aid Offer #2, which of the financial aid package options would be reduced by fees (deducted from each loan distribution)?

UW Engineering Alumni Fund
UW Madison Grant
Federal Pell Grant
Direct Subsidized Federal Loan

7.

MULTIPLE CHOICE QUESTION

10 mins • 1 pt

7. Fill in the blanks of this sentence: The __________________ minus financial aid awarded equals ____________________.

cost of attendance; sticker price
scholarship; net price
cost of attendance; net price
net price; sticker price

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