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Financial Literacy Flashcards | StudBud
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Financial Literacy
Financial Literacy
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Chapter 5
Flashcards
8 cards
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Practice quiz
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Questions
8
Answers
1
When planning for college, you should consider:
All of the above
Joining an after school club or sports team
Visiting colleges during your junior year
Speaking with your school's college advisor
2
Which of the following statements about the FAFSA is TRUE?
You can only apply online
The IRS Date Retrieval Tool allows you to transfer tax info
none
The earliest you can submit your FAFSA is December 1st
3
Which of the following options will require you to pay back any money you receive?
529 plans
Scholarships
Federal student loans
Grants
4
Using the FAFSA form, you can apply for:
The federal work-study program
Federal student loans
Both A & B
Private loans
5
The Federal Application for Student Aid (FAFSA) form:
Can only be filled out by U.S citizens
Can be submitted online or by mail
Must be completed by your guidance counselor
Is used to apply for private loans
6
Which education level has the highest return on investment (ROI)?
High School Diploma
Senior in high school
Bachelor's degree
ROI is equal for all of the above
7
Which type of loan requires that you pay the interest accumulated during college?
Pell Grant
Subsidized federal loan
Unsubsidized federal loan
University scholarship
8
Students with no demonstrates financial aid need can apply to subsidized loans.
False
True
