Financing higher education quiz

What type of federal funding is free money, but is based on financial need only? A. Federal grants B. All federal scholarships C. The 529 Plan D. None of these are correct

A. Federal grants

Which of the following is NOT a reason to complete the Free Application for Federal Student Aid (FAFSA)? A. It allows you to be eligible for early admission. B. It allows you to be eligible for many scholarships. C. It allows you to be eligible for some grants. D. It allows you to be eligible for federal student aid.

A. It allows you to be eligible for early admission.

What has the biggest impact on whether a 4 year university is affordable? A. The amount of financial aid that the university offers. B. The distance you live from the university. C. Whether it is a public or private university. D. Whether you live in the same state as the university.

A. The amount of financial aid that the university offers.

Dimitri's counselor told him that post-secondary education can be expensive but can pay off in the long run, what does that mean? A. The salary you will earn with a degree will pay back the cost of college over your career. B. You can get grants and scholarships to pay for post-secondary education while you are there. C. There are less expensive options for obtaining a post-secondary education. D. All of the above

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

Living at home could save you money while enrolled in post-secondary school or training because... A. it reduces the costs of room and board. B. it reduces the costs of transportation. C. it reduces the costs of books and supplies. D. it reduces the costs of tuition.

A. it reduces the costs of room and board.

Which is NOT considered an additional cost beyond tuition for higher education? A. Room and board B. Transportation C. Textbooks and supplies D. Academic counseling

Academic counseling

Which is a tax-free savings account that can only used for educational expenses? A. Federal grants B. A 529 plan C. Merit-based scholarships D. Merit-based scholarships

B. A 529 plan

The fact that you are more likely to earn more money over your lifetime with a post-secondary degree means... A. the cost of a post-secondary degree should be avoided. B. you should not be concerned about the amount of debt you go into to pay for it. C. the more money you pay for the degree guarantees a higher salary. D. the cost of a post-secondary degree is worth it.

C. the more money you pay for the degree guarantees a higher salary.

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

D. All of the above

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? A. He can enroll in a trade school and transfer his courses later. B. He can attend a specialized training program and transfer a couple of his courses. C. He can attend the local community college whose courses transfer to the public four-year college. D. None of these are correct.

D. None of these are correct.