Paying for College

In order to qualify for financial aid, you have to fill out something called the __________________________.

• FAFSA

• SAT

• ACT

• GRE

FAFSA determines your __________________________.

• Expected Family Contribution

• Annual Income

• Credit Score

• Loan Interest Rate

What is the difference between subsidized and unsubsidized loans?

• Subsidized loans do not accrue interest while in school, whereas unsubsidized loans do.

• Unsubsidized loans have a lower interest rate than subsidized loans.

• Subsidized loans are only available to graduate students.

• Unsubsidized loans are forgiven after 10 years of repayment.

Scholarships: Scholarships are awarded based on __________.

• merit

• financial need

• random selection

• geographical location

PELL Grant: Given to students who have __________.

• financial need

• excellent academic performance

• athletic skills

• community service experience

What is the work study?

• A work study program is a full-time job offered to students.
• A work study program is a scholarship that covers all tuition fees.
• A work study program is a mandatory internship for all students.
• A work study program in college is a financial aid program that enables students to work part-time to help pay for their education.

What is a loan?

• A loan is borrowed money that must be repaid with interest.
• A loan is a type of insurance policy.
• A loan is an investment that guarantees profit.
• A loan is a gift that does not need to be repaid.

What is the difference between a scholarship, grant, and loan?

How is the FAFSA used in the financial aid process? Why should you fill out the FAFSA?

Bonus Question: What college did Ms. Lorenz attend and what was her major(s)?

• Ms. Lorenz did not attend college

• Saint Mary's. Her majors were History and Secondary Education

• Notre Dame. Her major was Business

• University of Pittsburgh. Her major was Pre-med.