College Planner Unit 4: Paying for college

Organizations that assist people who have been scammed are ________________.

- Better Business Bureau - Federal Trade Commission

The two most common types of scholarship scams are ______________.

- Guaranteed Scholarships - Fee-Based Scholarship Services

1. the most common of the Supplemental Applications 2. the amount a family is expected to pay toward school expenses 3. includes information from the FAFSA and your EFC 4. the form you must complete when applying for any type of federal aid 5. any additional financial aid application beyond the FAFSA

1. FAFSA 2. PROFILE® 3. supplemental application 4. EFC 5. Student Aid Report

Which financial aid form charges a small fee for processing?

CSS PROFILE

Which financial aid form is a two-part form?

CSS PROFILE

Which financial aid form is customized to the schools you're applying to?

CSS PROFILE

Check all the answers that are true about Transportation costs.

Car insurance is the single biggest auto expense for college-aged students. One of the few things free at college is parking.

The amount parents and the students are expected to pay toward educational expenses is known as _______.

EFC

A scholarship can only be guaranteed if the application is sent in on time.

False

All scholarship services are illegal.

False

The cost of textbooks is often included in room and board.

False

The costs of a college education are about the same as when your parents went to school.

False

The keys to a good scholarship application are to be personal, to be positive, and to package your application to be clear and written at a fourth grade level.

False

By completing the FAFSA form, you automatically apply for privateFederal aid programs.

Federal

Which formula is used to pay out Title IV funds?

Federal Methodology

The increase in private scholarships _______ kept up with the increases in college costs.

Has not

When researching a scholarship company, what three questions should you ask?

How do you sort out all that information? If there's so much information available, where do you start? How do you know if the information is reliable?

Of the two methodologies for determining need and eligibility for financial aid, the _____________ is generally more generous.

Institutional

Which formula is more generous in regards to medical expenses and child support paid?

Institutional Methodology

__________ schools are funded in large part by taxes so are able to keep costs lower.

Public

Explain why some students at a public university are charged more than others.

Some students are charged more than others at a public university because they live out of state.

Fees are often included with tuition in a school's listing of expenses.

True

Generally, the more specialized the course, the higher the cost of supplies.

True

If your EFC seems unreasonably high, you can appeal to the financial aid office.

True

Many colleges recommend that students live on-campus during their freshman year.

True

No one can guarantee you that you will win a scholarship.

True

Prior to receiving the SAR, students will need to complete and submit a FAFSA.

True

Private scholarships have been on the increase over the past decade.

True

The Federal Methodology is used to determine eligibility for federal aid programs which pay out Title IV funds.

True

The ROTC is a federal merit-based scholarship program offered by the U.S. Armed Forces.

True

A good question to ask yourself when preparing an application for a college scholarship is ____________.

What does the scholarship committee want?

List five of the questions you should ask the financial aid office.

What's the total cost of attending your school for one year? What's been the average increase in tuition over the past three years? How do you calculate a student's financial need? Do you have a "need-blind" admissions policy? Do you meet the full need of every admitted student?

Most scholarship committees reward students who have a good balance between

academics activities community service family work

Students _________ required to inform the financial aid office of any private scholarships received.

are

Private scholarships:

are the most difficult source of financial aid because students compete to receive awards are essential for many families who will receive little or no need-based financial aid are often not considered by students who assume that high grades are always required are easier to find today than ever before

Which of the following would be considered personal expenses?

laundry hair cuts clothing toiletries recreation

The following would be examples of typical "fees":

library lab fitness center

EFC is calculated based on:

net assets size of family family earnings

The Institutional Methodology is used by many colleges and universities to determine an applicant's need and eligibility for _____________funds.

non-Federal

The two main categories of college transportation costs are:

traveling from home to school traveling around your college town

The most common types of college expenses fall into these categories: __________.

tuition fees books and supplies room and board transportation personal expenses

______________ is both rewarding and looks good on a scholarship application.

volunteering

It is best to shop for school supplies ____________.

while still at home