Personal Finance- Paying for College
all of the following are possible sources of grants and scholarships except
your parents
why should you file the fafsa as early as possible
Aid is given out on a first-come, first-serve basis
what kinds of aid are you eligible for by filing the fafsa
Grants and Scholarships, Work-Study, and Federal Student Loans
your friend says they submitted their fafsa & they're ready to start accepting financial aid. What should they accept?
Grants and scholarships
how do scholarships and grants differ?
Grants are need-based; scholarships are merit-based
which formula is used to calculate the net price of a college?
Sticker price - grants and scholarships = net price
after completing the fafsa, what will you receive that you'll need to advance through the financial aid process?
Student Aid Report contains info like your Expected Family Contribution
all of the following are good ways to prepare for paying for college except
Taking out student loans
what is the relationship between your expected family contribution (EFC) & your likelihood of financial aid
A higher EFC means you'll likely qualify for LESS financial aid
which of the following actions would most likely increase your cost of attending college?
Attending an out-of-state college
what is a benefit of going to college and having a college degree
Expanded professional and social network
which is true about the EFC?
It's how much you & family are expected to pay for college
when does the fafsa filing period open every year?
October 1st
all of the following statements about private student loans are true except
Part of the interest charged is subsidized by the U.S. government
all of the following are costs of going to college except
Scholarships and grants
which is true about sticker price and net price
Sticker Price is the published cost of going to a school and Net price is the sticker price minus scholarships & grants
which is true about the fafsa
There is no cost to file the FAFSA
what do you need to file your FAFSA if you're a dependent?
Your and your parents tax forms from 2 years prior
all of the following statements about the fafsa are true except
submit your FAFSA app later so you know what types of aid are available