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Financial Aid
Financial Aid
Financial Literacy
Mixed Money
Random
100
one you pay back and one you don't
What is the difference between a loan and a quote
100
How many times do you have to fill out the FAFSA while in college?
Every year in October.
100
Being on a Budget means?
Paying bills every month at the due date.
100
How often can you get a free credit report?
Once a Year
100

What is the 50/30/20 rule in budgeting?
 

50% needs, 30% wants, 20% savings or debt repayment.

200
What are 4 things that financial aid will help you pay for while in college?
- Tuition/fees - Room/Board -Transportation -Books
200
True or False? You have to be a full time student to receive financial aid.
False. Part time students can also receive financial aid.
200

FAMU Financial AID location 

What is 2nd floor CASS Building 

200
What is considered an excellent credit score?
700-850
200

Saving money under the mattress does not earn you _______. 

What is Interest 

300

What does FAFSA stand for?

Free Application for Federal Student Aid.

300

True or False? Your parents are responsible for your loans because you were under-aged when you signed the paperwork.

False. You are responsible for paying your student loans.

300
What is NOT a method to improve your credit score?
Maintain your old credit cards.
300
Your credit score is important because?
It affects interest rates Impacts future major purchases Can determine whether you can get credit cards
300
True or False? For Summer and Winter courses you must pay at time of registration.
True.
400

What is a the "maximum" number of hours of Work-Study?

What is 20 hours 

400

What are two things you need to complete and make corrections to the FAFSA?

What is pin number and FSA ID

400
What is a method to fund your college education?
Complete a FAFSA
400

A credit card backed by a cash deposit, often used to build or repair credit. 

What is a secured credit card
 

400

The total value of everything you own, minus everything you owe. 

What is Net Worth 

500

What are the documents/information needed to begin completing the FAFSA? (hint: there's 6)

-Social Security Number -Most recent federal income tax returns -An FSA ID to sign electronically -Records of untaxed income (if applicable) -Your Alien Registration Number (if you are not a U.S. citizen) -Bank statements and records of investments (if applicable)

500
What is the interest rate on the Stafford Loan and the Perkins Loan?
3.76%
500
True or False? I bought my first car and got a loan to pay for it. If I default on my loan, only this lender will know about it and if I need another loan, I’ll be able to get it from another lender. **Lender- company that will service the student loan Default- never paying back your Federal Student Loan
False.
500

If you borrow $10,000 in federal student loans with a 5% annual interest rate, how much interest will you owe after one year if no payments are made?
 

What is $500
500

Minimum amount of credit hours to receive Bright Futures? 

What is 12 credit hours