Higher Education; Module 5

When visiting a college you can:A. Receive reimbursement for your college visit costsB. Schedule a tour of the college campusC. Attend a college class to see what it’s likeD. Both B & CE. All of the above E. All of the above
For financing higher education, what is the best order to look for funding sources? (Federal Student Loans, Grant/Scholarships, & Private Loans) Grans/Scholarships – Fed. Student Loans – Private Loans
What is a subsidized loan? Not everyone qualifies
What is an unsubsidized loan? You are the one responsible for paying all accumulated interest on your loan during school; Available to everyone
Would you rather have a subsidized loan or an unsubsidized loan? Subsidized
Are the interest rates of subsidized and unsubsidized loans fixed or variable? Fixed, so it won’t change
Which of the following statements about the FAFSA process are TRUE?A. You must be a U.S. citizen to submit the FAFSA form.B. You must use the FAFSA to apply for the federal work-study program.C. You cannot fill out the FAFSA form without your parent/guardian.D. You should only fill out the FAFSA form if you can demonstrate financial need. B. FAFSA is the only way to apply for t/work-study program
Which of the following correctly pairs a financing option with its description?A. Grants & Scholarships – $ you EarnB. Federal Student Loans – Free $C. 529 Plan – $ you SaveD. Federal Work-Study Program – $ you Borrow C. 529 Plan – $ you save
Which of the following types of financial aid do not require you to pay the money back?A. GrantsB. Private LoansC. Federal LoansD. All of the above A. Grants
Why is the return on investment (ROI) for higher education high (even though the cost of college is increasing)? You have the potential to earn more money in the future when you continue your education past high school
On average, someone with a Bachelor’s degree is estimated to earn ____ times more than someone with a high school diploma. 1.6 times more than someone with a high school diploma
Which type of loan will typically offer the lowest interest rate? Fed. Student Loans

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