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College Financial Literacy Flashcards | StudBud
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College Financial Literacy
College Financial Literacy
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StudBud Administration
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Test your knowledge on scholarships, financial aid, budgeting, and saving for college expenses
Flashcards
16 cards
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Practice quiz
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Questions
16
Answers
1
What is the role of a scholarship?
Only for grades
A loan type
Reduce college costs
Increase expenses
2
True or false: You can only pay for college with loans.
False
True
3
What is the purpose of a budget?
Track expenses
Spend freely
Only save money
Ignore costs
4
True or false: Scholarships are based on financial need.
False
True
5
What is a common college expense?
Entertainment only
Travel costs
Only textbooks
Tuition and fees
6
How can you save for college?
Monthly deposits
Ignoring expenses
Only through loans
By working full-time
7
What is the average cost of college per year?
$40,000
$50,000
$30,000
$20,000
8
What is a financial plan?
Only a savings account
A loan application
A strategy for expenses
Ignoring financial aid
9
What should you consider for monthly payments?
Scholarship amounts
Living expenses only
Total cost divided by months
Only tuition fees
10
How can you estimate college costs?
Focus on loans only
Only tuition fees
Consider all expenses
Ignore living costs
11
Which is a benefit of saving for college?
More expenses
Higher costs
More loans
Less debt
12
True or false: You should save for college early.
False
True
13
Which is a common college cost?
Entertainment costs
Travel expenses only
Room and board
Only textbooks
14
What is a common way to pay for college?
Using loans
Ignoring costs
Working part-time
Only scholarships
15
What is a grant?
Monthly payment plan
Scholarship for grades
Money based on need
A type of loan
16
Which is a type of financial aid?
Part-time jobs
Loans
Investments
Only savings
