FAFSA Facts
What does FAFSA stand for?
Free Application for Federal Student Aid
Which type of aid is considered "free money"?
Scholarships or Grants
What is one hidden cost of college besides tuition?
Housing, books, or supplies
What is it called when two variables increase together?
Positive correlation
What is one reason someone might choose a trade school over a 4-year college?
It costs less and gets you into the workforce faster
How often must you fill out the FAFSA?
Every year you're in college
What does a work-study program allow you to do?
Work part-time to earn money for school
What is the total cost called that includes tuition, housing, books, etc.?
Cost of attendance
What does a line of best fit show?
The general trend in data
What is the first step in applying for financial aid for college?
Fill out the FAFSA
Why should you file the FAFSA early?
Aid is first come, first served
What’s the difference between subsidized and unsubsidized loans?
Subsidized = no interest while in school; unsubsidized = interest starts right away
What might a financial aid package include?
Grants, loans, work-study, and estimated costs
What mistake did Tyrell make when saying expensive schools give less aid?
He confused correlation with causation
What are two ways to reduce the cost of college?
Apply for scholarships and live at home/off campus
Which date should you aim to file the FAFSA?
October 1st
Rank in order: scholarship, loan, work-study – which should you accept first?
Scholarship → Work-study → Loan
Which of these is NOT a real cost?
A) Rent
B) FAFSA fees
C) Textbooks
B) FAFSA fees
What percent of people in “Sales” occupations are employed if 49 out of 51 are employed?
(49 Ă· 51) Ă— 100 = 96.1%
What kind of aid do you not have to pay back?
Scholarships and grants
True or False: You must pay a fee to file the FAFSA.
False – it’s free!
What is one reason to apply for scholarships after filling out FAFSA?
They provide extra free money that doesn’t need to be repaid
If Sharon has a $2,000 loan, $1,500 scholarship, and a $500 work-study, which should she use first?
$1,500 scholarship
Is there an association between occupation and unemployment rate?
Yes, different jobs have different unemployment rates
Why is it important to compare costs and financial aid offers before choosing a college?
To avoid debt and choose the most affordable option