College Payments
Budgeting
Scholorships
Student loans
Math
100
List four college payments
What is tuition, Food, Transportation, Housing, ext.
100
If you need additional money to pay for your college expenses, consider working _____ while in school or save your money from your summer employment.
What is part-time
100
What is a scholarship? Bonus question for 400 points! What is a full-ride scholarship?
What is a grant or payment made to support a student's education, awarded on the basis of academic or other achievement. Full-ride: this type of award not only covers tuition and fees, but also books, room and board, supplies, and sometimes even
100
Define student loan
What is designed to help students pay for university tuition, books, and living expenses.
100
You have invested in $4,589 to pay off your $9,200 loan. How much money is left to pay your loan
What is $4,611
200
The tuition and fees deduction can reduce the amount of your _____ subject to tax by up to $4,000.
What is Income?
200
Total your income, total your expenses, and then make sure that your budget is ________
What is balanced. You want to either break even or have some money leftover. If your budget doesn't balance, you’ll need to reduce your expenses and/or figure out a way to bring in more income.
200
List three ways you can get a scholarship
What is Give the scholarship sponsor what it wants. Get involved with your community. Look professional. Use a scholarship search engine. Don't ignore the optional questions. Learn more about scholarship odds. Apply to every eligible scholarship. Look for essay contests, ext.
200
Estimate the amount of Americans that now have student loan debt.
what is 40 million
200
You start college with 5,000$ Your income is 600$ a Month with Monthly payments of 200$ Your tuition cost 9,200 How many Months would it take to pay off your tuition?
What is 10-11 Months
300
This helps you obtain plenty of student discounts available on travel, computers, food, entertainment and more.
What is Student Discounts
300
In your budget, include all of your potential categories and amounts of income. For college students, these typically include:
What is financial aid (scholarships, grants, work study, and student loans), savings, contributions from parents, and income from a part-time job.
300
Define the difference between In-state and out-of-state tuition's
State residents often qualify for lower in-state tuition rates and state education grants. Most states have established residency requirements designed to prevent out-of-state students who become residents incidental to their education from qualifying.
300
The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding. What is this called?
Interest rate
300
Do the math. Once you've gathered all the necessary information, it's time to add up your total income and subtract your total expenses. Your expenses shouldn't exceed your ______
What is Income
400
If you can, try to obtain a paid college _______. You can earn money, college credit and work experience all at the same time!
What is Intership
400
The key to budgeting is being honest with yourself about what you’re spending money on. Before you create a budget, keep a spending _____ for a month or two and record every penny you spend use.
What is log, worksheet, etc.
400
If you’re a high school freshman or sophomore, you’re probably not thinking about the cost of college, but you should be. Why?
The earlier you start searching and applying for scholarships the more opportunities you’ll have to win free money for college.
400
For most federal student loans, you will _____ if you have not made a payment in more than 270 days.
Default for failure to repay a loan according to the terns and agreements.
400
You put $1000 into an investment yielding 6% annual interest; you left the money in for two years. How much interest do you get at the end of those two years? (P = $1000, r = 0.06, t=2 and use the equation i=prt
What is $120
500
Most schools send out tuition bills that cover the entire term and are due in full. The tuition payment plan enables you to take your bill and ____
What is splitting it into smaller amounts, payable over a number of months. You still owe the same amount, but you now have more time to pay and your payments are smaller and more manageable.
500
What are the 3 of the 6 steps mentioned in the video
Know your income, fixed expenses, variable expenses, prioritize, follow your spending and review Monthly, keep track
500
Is a scholarship or grant tax-free? Provide a reason why it would or wouldn't.
It can, a scholarship or fellowship is tax free if you are a degree candidate and the award is used to pay for tuition and required fees, books, supplies and equipment. However, there are some scholarship and fellowship opportunities that are not tax exempt.
500
How can you set up a student loan?
Work with your loan service to choose a federal student loan repayment plan that's best for you. To make your payments more affordable, repayment plans can give you more time to repay your loans or be based on your income.
500
A student takes out two loans totaling $5000 at 4% and 6% annual interest. The total interest after one year is $254. Find the amount of each loan?
4%= 2,300 6%=5,000 https://www.wyzant.com/resources/answers/32231/a_student_takes_out_two_loans_totaling_5000_at_4_and_6_annual_interest_the_total_interest_after_one_year_is_254_find_the_amount_of_each_loan
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