What is merit-based financial aid?
Ways to Pay for College

Quiz
•
Mathematics
•
6th - 8th Grade
•
Easy
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15 questions
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1.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Financial assistance based on financial need.
Financial assistance awarded based on a student's academic, artistic, athletic, or other achievements.
Financial assistance that is given to all students regardless of their performance.
Financial assistance that requires repayment after graduation.
2.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
What is the significance of the Expected Family Contribution (EFC)?
It determines the amount of student loans a student can take.
It is a measure of a family's financial strength and is used to determine a student's eligibility for federal student aid.
It calculates the total cost of attendance for a college.
It is used to assess a student's academic performance.
3.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
What is a loan?
A loan is money borrowed that must be paid back with interest.
A loan is a gift given without any expectation of repayment.
A loan is an investment made to earn interest over time.
A loan is a type of savings account that earns interest.
4.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
What is a scholarship?
A financial award given to students that must be repaid.
A financial award given to students based on academic or other achievements that does not need to be repaid.
A type of loan for students to pay for their education.
A grant that is awarded to students for extracurricular activities.
5.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
What types of financial aid are available for college students?
Grants, scholarships, and work-study programs only
Loans, scholarships, and grants
Grants, scholarships, loans, and work-study programs
Only scholarships and grants
6.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
What is the difference between federal and private loans?
Federal loans are funded by the government and often have lower interest rates and more flexible repayment options than private loans.
Private loans are always interest-free and do not require repayment until after graduation.
Federal loans are only available to students enrolled in public universities, while private loans can be used for any educational institution.
Private loans are funded by the government and have more flexible repayment options than federal loans.
7.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
What is need-based financial aid?
Financial assistance awarded based on academic performance.
Financial assistance awarded based on the financial need of the student and their family.
Financial assistance that is available to all students regardless of their financial situation.
Financial assistance provided only to students from low-income families.
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