Financial Aid Quiz

Free money from an outside organization or company-these are Rare and Competitive

borrowed $ from the gov. Lower interest rates. Grace periodRecommended: $5,500 per year maximum

Select all that are DIRECT cost

Borrowed money from the government. Lower interest rates. Grace period,

The costs you must pay to the college tuition, fees, room & board (if living on campus)

Pell State, MAP in IL, FSEOG or SEOG are:

Application from the gov. that you fill out/Determines how much financial aid you will receive

The real cost of one year of college AFTER free money: Direct costs - grants & scholarships

$ borrowed by parents on your behalf. Lower interest rates, NO grace period.

Borrowed money from another source (e.g. bank)Higher interest rates. NO grace period

Pell ,MAP in IL; MUST attend an in-state school)(FSEOG or SEOG)

$ from the university for merit (academics) or other skills (music, diversity, sports) or need

Based on the FAFSA, the $ the gov. says your family can afford to pay for 1 year of college

The costs of college that goes to books, transportation, personal expenses, etc.

A job on campus-based on your EFC-Not guaranteed.

A job on campus that you qualify for based on your EFC. NO guarantee you will get the job.

Select all that are INDIRECT COST