Pay For College

The Feds

100

The online form you complete on December 1st to qualify for federal and state grants and loans

What is the FAFSA ?

200

The origination fee on a federal SUBSIDIZED student loan in 2023

What is 1.057% ?

300

A loan that a parent can get from the federal government to cover up to the COA for a qualifying student.

What is a DirectPlus loan ?

400

The fee for a federal DirectPlus Loan

What is 4.228%

500

The entity that actually disburses the student loan to the borrower's school account

What is The Federal Government - Department of Education ?

COA

100

DOUBLE JEOPARDY (Choose your WAGER)

Press the space bar to reveal the question

These five items make up the COA for a school 

200

Sends you a financial aid award letter

What is the university or college where you have been ACCEPTED.

300

Normally required for all
 on - campus freshman in the first year of college.

What is room and board ( living on campus and a meal plan ) ?

400

Your total borrowing should not exceed this

What is your first-year starting salary?

500

The term COA means _____________________ and is established by the _____________________.

What is Cost of Attendance and the individual university determines the COA

Amortization

100

How rows lines would be in a 10 year amortization table ?

What is 120 ?

200

In what row is the MONTHLY INTEREST the highest ?

The first row of the table.

300

In what row is the amount going to PRINCIPAL the highest ?

What is the LAST row ?

400

If you make an extra payment in October of 2023 which month will the interest be lower ? October 2023 or November 2023

What is November 2023 ?

500

What happens to a loan when the term is extended to 20 years instead of 10 years ?

What is The monthly payment is less and the total interest for the loan is more. 

TRUE or FALSE

100

The normal repayment period for a Federal Student Loan.

What is 10 years ?

200

DOUBLE JEOPARDY

Tuition where you can pay the same rate for 18 credits as for 12 credits.

300

A penalty for paying off your loans earlier. This is something that DOES NOT apply to Federal Student Loans.

What is a PRE-PAYMENT penalty ?

400

A four year college degree is known as an __________

What is an UNDERGRADUATE degree ?

500

A two year degree is known as a ________________.

What is an associate degree ?

PRIVATE LOANS

100

If your parent is denied a DirectPlus loan what might the federal government do if the decision is appealed ?

What is allow the student to borrow more in federal loans. 

200

What is the borrowing limit (federal) for senior year of college ? 

What is 7500 ?

300

A person who is legally repayment for a private loan in addition to the borrower.

What is a cosigner ?

400

When you are in school full time your federal loans and possibly private loans don't have to be paid during that time and until 6 months after you graduate. 

The word for this is  _____________

What is deferred ?

500

This type of investment and savings accounts can be used to pay for college expenses (up to the COA) TAX FREE

What is ESA and 529 ?