Career Prep B; Financing Higher Education Quizlet

Which of the following is true about the Free Application for Federal Student Aid (FAFSA)?- -The earliest you can submit your FAFSA is October 1st of each year. -The form is available online or on paper. -States may have different deadlines for applying for State Aid. -All of the above.

All of the above

Which of the following is NOT a reason to complete the Free Application for Federal Student Aid (FAFSA)?-

It allows you to be eligible for early admission.

Loans for undergraduate students with financial need, as determined by your cost of attendance minus expected family contribution and other financial aid (such as grants or scholarships).-

Subsidized Loan

What can affect whether a Public or Private University is affordable?-

The amount of financial aid they offer.

The fact that you are more likely to earn more money over your lifetime with a Post-Secondary Degree means _______________________.

The cost of a Post-Secondary Degree is worth it.

All of the following are true about the Free Application for Federal Student Aid (FAFSA) EXCEPT:

The form is ONLY AVAILABLE ONLINE.

Earning a Degree can be expensive, but which example shows why it might be worth it?-

You are more likely to earn money over your lifetime than if you did not have a Degree.

Textbooks, Transportation, Room and Board are all _________________________________.

additional costs for attending a College or University.

Preparing to pay for higher education can start in the 9th grade or earlier by _____________________.

applying for scholarships.

Maria is a high school senior. She wants to go to the local community college and become a nurse. Her grades are average, but she comes from a low-income family. What could she do to in order to afford the next step in her dream to become a nurse?-

both B & C

Which is a tax-free savings account that can only be used for educational expenses?-

A 529 plan

What are the benefits of attending a local community college?- -It is cheaper to earn an Associate's Degree at a community college and then transfer to a four-year college to finish. -You can live at home and save dorm fees while earning an Associate's Degree. -Choosing a local community college within closer driving ranges save transportation costs. -All of the above.

All of the above

What type of Federal Funding is free money, but is based on financial needs only?-

Federal Grants

Andrew doesn't want to spend a lot of money on student loans, and does not qualify for grants. What is his best option for affording a Bachelor's Degree?-

He can enroll in a trade school and transfer his courses later.

Which of the following answer lists 4 year Colleges from generally the least expensive to the most expensive?-

In state public, Out state public, Private

Dimitri's counselor told him that post secondary education can be expensive but can pay off in the long run, what does that mean?-

The salary you will earn with a Degree will pay back the cost of College over your career.

It doesn't make sense to avoid post-secondary education because of its cost since in the long run-

The salary you will earn with a degree will pay back the cost of college over your career.

With an ________________, you are responsible for the interest from the moment the loan money is disbursed into your account.

Unsubsidized Loan

Living on campus while earning your degree can help you save money on _______________.

transportation costs.