College Costs
What is the average cost of tuition and fees at a private university?
Around $32,000/year.
What is FAFSA and why is it important?
Application for financial aid.
What is a merit-based scholarship?
Awarded for academic or athletic achievement.
What is a federal student loan?
Loan from the government.
What is a vocational school or trade school?
Specialized job training, shorter programs.
What is the difference between in-state and out-of-state tuition?
Out-of-state is more expensive.
What is the difference between a grant and a scholarship?
Grants are need-based, scholarships are merit-based.
What is a need-based scholarship?
Awarded based on financial need
What is the difference between a subsidized and an unsubsidized loan?
Subsidized doesn’t accrue interest in school.
What is an apprenticeship program and how does it work?
Learn on the job, earn a paycheck.
What are additional costs (besides tuition) that students must consider?
Room, board, books, fees
What is a Direct Subsidized Loan?
Federal loan, no interest while in school.
What are some common sources of private scholarships?
Companies, foundations, community groups
What are the pros and cons of private student loans?
Higher interest, less flexibility.
How can earning certifications help in your career?
Show expertise, increase job chances.
What is "Sticker Price" in the context of college tuition?
Published cost before aid
What is the maximum income to qualify for a Pell Grant?
Varies, around $50,000/year
How can a student increase their chances of receiving a scholarship?
Apply to many, meet criteria.
What is the interest rate on federal student loans for undergraduates?
Around 4.5%-5.5%.
What are the benefits of enrolling in a community college?
Affordable, flexible, transfer options.
What is the concept of "Net Price" in college pricing?
Actual cost after aid.
What is the role of a financial aid officer at a college?
Helps with financial aid process.
What are "outside scholarships" and how do they differ from school-based ones?
From external organizations, not the school.
What are the consequences of not repaying student loans?
Damage to credit, wage garnishment.
What are the benefits of joining the military instead of getting a 4-year degree?
No cost, better benefits, start right away