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