Loans
During a period of financial hardship, you can apply for this to pause student loan payments while interest still accrues…
Forbearance
Sticker price - ______ and ____________ = net price
Sticker price - grants and scholarships = net price
Although it’s not a type of financial aid, how can transferring credits from a community college help save you money on college costs?
It reduces amount of credits you’ll have to pay for at your 4-year college
In order to qualify for financial aid, which application must you submit?
FAFSA
Which of these options lists the types of financial aid from MOST attractive to LEAST attractive?
2. Grants/Scholarships, Work-study, Federal loans, Private loans
True or False:
A college graduate can expect to earn, on average, more than a high school graduate over a career
True
Over a $1,000,000 more over a career.
The federal government makes interest payments on __________ while you’re enrolled in school at least half-time, for the first six months after you leave school, and during any period of deferment.
Subsidized federal loans
Travel expenses, a cell phone bill, food, and entertainment are considered ________ costs of attendance, while tuition is considered a ______ cost of attendance.
Travel expenses, a cell phone bill, food, and entertainment are considered INDIRECT costs of attendance, while tuition is considered a DIRECT cost of attendance.
How is getting a summer job specifically a good strategy to use when it comes to paying for college?
Saving your earnings from your summer job can reduce the amount of loans you need to take
Who receives and uses the information submitted in your FAFSA?
The schools you’ve applied to and your state government to determine your eligibility for financial aid
The _____ your SAI the ___ financial aid you are eligible for
The LOWER your SAI the MORE financial aid you are eligible for
What is the default federal student loan repayment plan college graduates are entered into, requires the same minimum payment for the life of the loan, and ensures the borrower will pay the loan in full in ten years?
Standard repayment plan
Who is eligible to receive Direct Subsidized loans?
Undergraduate students
What types of money are used in paying for college and in what order should you use them?
Free money, your money, borrowed money
Which of the following ways to pay for college is MOST likely to be based on someone’s financial need?
Grants
How much does it cost to file the FAFSA?
It is free
True or False:
The FAFSA is an organization that offers grants to college students.
False:
Organizations like the federal government, colleges, and private companies may offer grants to college students.
As you make decisions during college, you should focus on…
4. Balancing your academic, social, and financial decisions to make the most out of the entire experience while setting yourself up for success post-college
What repayment option does not accrue interest while your required payments are paused?
Deferment
True or False:
Your school counselor is a great resource for negotiating lower interest rates with your lenders.
False: Your school counselor is a great resource for all of the following:
Keyder's tuition, room & board, and fees for freshman year total $26,000. Including scholarships, grants, and federal student loans, his financial aid package is $25,500. What is both a realistic and the financially responsible method to cover the remaining costs?
Keyder should pick up a part-time job to cover his remaining costs and personal expenses.
Typically, when should you first file the FAFSA?
October or November of your last year of high school
True or False:
You will find a record of all scholarships you have applied for on your FAFSA Submission Summary.
False:
You will find...
What is a benefit of an income-driven repayment plan?
Theoretically, your payment should never be more than you can afford
How many World Series championships have the New York Yankees won?
27
What is the address of Yonkers High School?
150 Rockland Ave
Yonkers, NY 10705
How many ounces are in one cup?
8 ounces
What year will be the next leap year?
2028
What are the first 4 digits of pi?
3.141...
What is the degree of the following polynomial?
3x2 + 4x5 -6x + 8x3
5