Understanding College Financial Aid: A Comprehensive Guide

Understanding College Financial Aid: A Comprehensive Guide

8th Grade

12 Qs

quiz-placeholder

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Understanding College Financial Aid: A Comprehensive Guide

Understanding College Financial Aid: A Comprehensive Guide

Assessment

Quiz

Other

8th Grade

Easy

Created by

Christian Compean

Used 6+ times

FREE Resource

12 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A 529 Savings Plan can be used to pay for _______.

education expenses

vacation expenses

medical bills

car payments

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

True or False: Scholarships need to be repaid.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The difference between grants and loans is:

Grants are financial awards that do not need to be repaid, while loans must be repaid with interest.

Grants must be repaid with interest, while loans are financial awards that do not need to be repaid.

Both grants and loans must be repaid with interest.

Neither grants nor loans need to be repaid.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The purpose of completing the Free Application for Federal Student Aid (FAFSA) is to:

apply for federal student loans and grants.

register for college courses.

find a college roommate.

apply for a driver's license.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a common method of paying for college?

Grants and Scholarships

Federal Student Loans

Military Enlistment

Work-Study Programs

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How do work-study programs help students?

By providing financial assistance

By offering practical work experience

By reducing tuition fees

By improving academic performance

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

One strategy to reduce student loan debt is:

Refinancing the loan

Ignoring the loan

Taking more loans

Defaulting on the loan

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