FAFSA
The FAFSA is used to determine your eligibility for…
Private loans and merit-based scholarships
Scholarships, grants, work study, and federal loans
Grants to study abroad
Free room and board
2. Scholarships, grants, work study, and federal loans
What is the difference between a federal subsidized loan and a federal unsubsidized loan?
Subsidized loans are given to parents, while unsubsidized loans are given to undergraduates
Subsidized loans are charged interest daily, while unsubsidized loans are charged interest monthly
Subsidized loans need to be repaid, while unsubsidized loans do not need to be repaid
Subsidized loans are interest-free until graduation, while unsubsidized loans are charged interest throughout the whole term of the loan
4. Subsidized loans are interest-free until graduation, while unsubsidized loans are charged interest throughout the whole term of the loan
A study finds that in cities with higher ice cream sales, there are also higher rates of violent crime. Which of the following statements is the best interpretation of this finding?
A) Ice cream sales cause violent crime.
B) Violent crime causes higher ice cream sales.
C) There is a correlation between ice cream sales and violent crime, but one does not necessarily cause the other.
D) Ice cream sales and violent crime are unrelated.
C) There is a correlation between ice cream sales and violent crime, but one does not necessarily cause the other.
What does it mean for student aid to be merit-based?
The aid is coming from the US military
The aid is based on household income
The aid is based on academic success or other accomplishments
The aid is available for multiple years, rather than just one
3. The aid is based on academic success or other accomplishments
Scout has each of the following options available to her for paying for her first year of college. Which should she choose first?
A work-study job worth $500
A $1,500 scholarship from her father’s employer
A $2,000 subsidized federal loan
A $14,000 private student loan
2. A $1,500 scholarship from her father’s employer
Which statement accurately describes the key features of an observational study?
An observational study influences the members and can NOT demonstrate causation.
An observational study influences the members and can demonstrate causation.
An observational study does NOT influence the members and can demonstrate causation.
An observational study does NOT influence the members and can NOT demonstrate causation.
4. An observational study does NOT influence the members and can NOT demonstrate causation.
Why are you advised to file your FAFSA as early as possible?
After a certain deadline, you are required to pay a fee to file your FAFSA
Financial aid is awarded on a first come, first served basis
You have to file your FAFSA before you can complete your federal income tax return
Colleges are more likely to accept you because you took the initiative to file early
3. Financial aid is awarded on a first come, first served basis.
Why should a high school senior who has already completed the FAFSA still apply for scholarships as well?
Scholarships almost always have a higher dollar amount than grants or loans do
Scholarships are much easier to qualify for than federal student loans
Scholarships are “free money” that won’t need to be repaid
Scholarships are only offered by prestigious colleges and will help guarantee admission
3. Scholarships are “free money” that won’t need to be repaid
A researcher studies the average tuition cost by surveying 50 random public universities in the U.S.
Which of the following describes the population and the sample?
A) The population is the 50 universities surveyed, and the sample is all public universities in the U.S.
B) The population is all public universities in the U.S., and the sample is the 50 universities surveyed.
C) The population is all U.S. colleges, and the sample is the 50 universities surveyed.
D) The population is all students at public universities, and the sample is the 50 universities surveyed.
C) The population is all U.S. colleges, and the sample is the 50 universities surveyed.
Which of the following is true about how frequently you should file the FAFSA?
You need to file the FAFSA once, before you start college
You need to file the FAFSA if you receive a tax refund
You need to file the FAFSA once, after graduation from college
You need to file the FAFSA every year that you attend college
4. You need to file the FAFSA every year that you attend college
Horace is going to college and wants to be sure he has enough aid to cover the total cost of attending. All of the following are additional expenses that you should make him aware of EXCEPT…
Fees associated with filling out the FAFSA
Costs of a living in a dorm room or renting off campus
An on-campus meal plan
Textbooks and supplies
1. Fees associated with filling out the FAFSA
A study examines the relationship between the number of hours spent studying and exam scores for two groups of students. In Group A, the correlation coefficient is 0.9, while in Group B, it is 0.3.
Which of the following best describes the relationship between study hours and exam scores?
A) Group A shows a stronger relationship than Group B.
B) Group A’s correlation is likely due to an outlier.
C) Group B shows a significant but weak relationship.
D) Both groups show equally weak relationships.
A) Group A shows a stronger relationship than Group B.
Pipo receives a financial aid package from Bigtown University. What does she need to do next?
Accept the entire offer or risk losing her acceptance at Bigtown University
Register for classes so she will know the exact cost of her tuition, books, and supplies
Complete the FAFSA for next year
Decide which parts of the offer to formally accept and sign any promissory notes
4. Decide which parts of the offer to formally accept and sign any promissory notes
Which of the following equations is true about college costs?
Sticker Price = Net Price - Scholarships - Loans - Grants
Sticker Price = Net Price - Scholarships - Grants
Net Price = Sticker Price - Grants - Scholarships
Net Price = Sticker Price - Loans - Grants
3. Net Price = Sticker Price - Grants - Scholarships