All of the following are good ways to prepare for paying for college EXCEPT...

summative review II Paying for College

Quiz
•
Financial Education
•
12th Grade
•
Hard
Patrick Sutton
FREE Resource
18 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Contributing to a 529 plan
Building a savings
Pursuing grants and scholarships
Taking out student loans
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Your friend has chosen what college they’re going to attend and says they want to lower the total amount of money they’ll have to budget for while in school. Which of the following should you tell them to focus on?
Indirect costs
Tuition
Direct costs
Room and board
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which formula is used to calculate the net price of a college?
Sticker price + grants and scholarships = net price
Sticker price + value = net price
Sticker price – grants and scholarships = net price
Sticker price - value = net price
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
All of the following statements about the FAFSA are true EXCEPT...
It is used to determine how much and what kind of financial aid you’re eligible for
It’s best to submit your FAFSA application later in the filing period so you know what types of aid are available
There are different school, state, and federal deadlines for filing the FAFSA
To receive financial aid, you’ll need to submit the FAFSA for each year you’ll be attending college
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Jenny receives her FAFSA Submission Summary a few days after filing the FAFSA electronically. Which of the following should she expect to find in this document?
Admission offers from the schools she included in her FAFSA
Discounts on tuition at certain colleges based on her financial need
Career counseling that is offered to all FAFSA filers
A record of her FAFSA answers, her SAI, financial aid eligibility, and more
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the relationship between your Student Aid Index (SAI) and your likelihood of qualifying for financial aid?
A higher SAI means you’ll likely qualify for MORE financial aid
A higher SAI means you’ll likely qualify for LESS financial aid
Your SAI is equal to the amount of financial aid you’re eligible to receive
Your SAI has no effect on how much financial aid you’ll qualify for
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Your friend tells you they’ve submitted their FAFSA and they’re ready to start accepting financial aid. What type of aid should they accept first?
Federal student loans
Private student loans
Work study
Grants and scholarships
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