College Financial Aid and Student Loans Quiz
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Questions and Answers

What is the difference between sticker price and net price?

  • Sticker price is the actual cost after grants, scholarships, and aid are deducted, and net price is the total cost of attendance
  • Sticker price is the actual cost after grants and scholarships, and net price is the cost after grants, scholarships, and aid are deducted
  • Sticker price is the cost after grants and scholarships, and net price is the total cost of attendance
  • Sticker price is the total cost of attendance, and net price is the actual cost after grants, scholarships, and aid are deducted (correct)

    • What is the purpose of the FAFSA form?

  • To determine the cost of attendance
  • To calculate the net price of college
  • To determine a student's eligibility for financial aid to pay for college (correct)
  • To apply for federal student loans

    • What is the difference between subsidized and unsubsidized federal loans?

  • Subsidized loans are for those with financial need, and the government covers the interest while you're in school. Unsubsidized loans are not available to all students regardless of need, but interest starts accruing from the time the loan is given out
  • Subsidized loans are available to all students regardless of need, but interest starts accruing from the time the loan is given out. Unsubsidized loans are for those with financial need, and the government covers the interest while you're in school
  • Subsidized loans are for those with financial need, and the government covers the interest while you're in school. Unsubsidized loans are available to all students regardless of need, but interest starts accruing from the time the loan is given out (correct)
  • Subsidized loans are not available to all students regardless of need, but interest starts accruing from the time the loan is given out. Unsubsidized loans are for those with financial need, and the government covers the interest while you're in school

    • What is the order of aid acceptance, from first to last?

    <p>Grants and scholarships, federal work-study, federal student loans, and parent PLUS loans</p> Signup and view all the answers

    What is the role of the FAFSA form in relation to financial aid?

    <p>Determining a student's eligibility for financial aid to pay for college</p> Signup and view all the answers

    What is the difference between sticker price and net price?

    <p>Sticker price is the total cost of attendance, and net price is the actual cost after grants, scholarships, and aid are deducted</p> Signup and view all the answers

    What is the role of FAFSA in the context of college financial aid?

    <p>Determining a student's eligibility for financial aid</p> Signup and view all the answers

    What is the main difference between subsidized and unsubsidized federal loans?

    <p>Subsidized loans are for those with financial need, and the government covers the interest while you're in school</p> Signup and view all the answers

    What does forbearance allow for in the context of student loans?

    <p>Pause or reduce loan payments</p> Signup and view all the answers

    In what order is financial aid acceptance typically arranged for students?

    <p>Grants and scholarships, federal work-study, federal student loans, and parent PLUS loans</p> Signup and view all the answers

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