Paying for College

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Which of the following options does NOT need to be repaid?

Work-study programs

Grants

Student loans

Scholarships (correct)

Which type of financial aid is typically need-based?

Work-study programs

Scholarships

Grants (correct)

Student loans

Which type of student loan usually has lower interest rates and more flexible repayment plans?

Private student loans

Both federal and private student loans

Federal student loans (correct)

Neither federal nor private student loans

What is the significance of FAFSA?

It determines the amount of student loans a student can receive Signup and view all the answers

Which source can scholarships be obtained from?

All of the above Signup and view all the answers

Which of the following is a tax-advantaged savings plan designed to encourage saving for future education expenses?

529 plans Signup and view all the answers

Which form must students complete to determine their eligibility for federal financial aid programs?

FAFSA Signup and view all the answers

What type of financial aid requires repayment with interest after graduation?

Loans Signup and view all the answers

Which funding option allows students to earn money to help cover their educational expenses?

Work-study programs Signup and view all the answers

Why is it important to fill out the FAFSA form?

To receive financial aid award letters Signup and view all the answers

True or false: Work-study programs offer part-time employment opportunities to students, allowing them to earn money to help cover their educational expenses.

True Signup and view all the answers

True or false: 529 plans are sponsored by states, state agencies, or educational institutions and allow contributions made to the plan to grow tax-free.

True Signup and view all the answers

True or false: Filling out the FAFSA form opens up various financial aid opportunities and maximizes the chances of receiving assistance.

True Signup and view all the answers

Match the following financial aid options with their descriptions:

Work-Study Programs = Offer part-time employment opportunities to students, allowing them to earn money to help cover their educational expenses Employer Reimbursement Programs = Employers cover a portion or all of their employees' educational expenses 529 Plans = A tax-advantaged savings plan designed to encourage saving for future education expenses FAFSA = A form that students must complete to determine their eligibility for federal financial aid programs Signup and view all the answers

Match the following terms with their importance in the financial aid process:

FAFSA = Helps colleges and universities assess a student's financial need and determine the aid package they qualify for Submitting FAFSA early = Increases the likelihood of securing limited funds from financial aid programs Different types of Financial Aid = Include grants and scholarships, work-study, and loans, each with different requirements and benefits Signup and view all the answers

Match the following types of financial aid with their characteristics:

Grants and Scholarships = Free money that does not require repayment Work-Study = Provides part-time employment, enabling students to earn money while studying Loans = Require repayment with interest after graduation Signup and view all the answers

Paying for College

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Questions and Answers

Which of the following options does NOT need to be repaid?

Which type of financial aid is typically need-based?

Which type of student loan usually has lower interest rates and more flexible repayment plans?

What is the significance of FAFSA?

Which source can scholarships be obtained from?

Which of the following is a tax-advantaged savings plan designed to encourage saving for future education expenses?

Which form must students complete to determine their eligibility for federal financial aid programs?

What type of financial aid requires repayment with interest after graduation?

Which funding option allows students to earn money to help cover their educational expenses?

Why is it important to fill out the FAFSA form?

True or false: Work-study programs offer part-time employment opportunities to students, allowing them to earn money to help cover their educational expenses.

True or false: 529 plans are sponsored by states, state agencies, or educational institutions and allow contributions made to the plan to grow tax-free.

True or false: Filling out the FAFSA form opens up various financial aid opportunities and maximizes the chances of receiving assistance.

Match the following financial aid options with their descriptions:

Match the following terms with their importance in the financial aid process:

Match the following types of financial aid with their characteristics:

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