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Financial Literacy: Methods of Paying for College Flashcards | StudBud
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Financial Literacy: Methods of Paying for College
Financial Literacy: Methods of Paying for College
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This quiz targets TEK 6.14G in the 6th grade Texas Math Standards on methods of paying for college.
Flashcards
13 cards
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Questions
13
Answers
1
What's the cost for 1 year: $25,085 tuition (per year) with $2,800 scholarship (per semester)?
$22,285
$19,485
$30,685
$27,885
2
John attends a 4-year university with tuition costs of $18,910/yr. How much are all 4 years?
$37,820
$75,640
$18,910
$90,460
3
Funds awarded based on personal or family financial need and do not have to be paid back.
Work study
Scholarship
Student Loan
Grant
4
How much needs to be paid: $18,400 per yr for 2 yrs - $6,500 in work study per yr for 2 yrs?
$36,800
$23,800
$30,300
$18,400
5
How much does Allison have to pay if her tuition is $6,130 a year for 2 years?
$3,065
$24,520
$6,130
$12,260
6
These are funds that have to be paid back, usually with interest added.
Student Loan
Work study
Grant
Scholarship
7
Which of the following is NOT an example of a work study job?
Working at Chilis
Working in the campus recreation center
Working in the college bookstore
Working at the university library
8
Awarded based on outstanding achievements like athletics, academics, community involvement.
Scholarship
Work study
Grant
Student Loan
9
Which college payment option would be your PERSONAL first choice?
Work study or an outside job
Apply for student loans
Apply for grants or scholarships
Use my savings
10
A person has $10,000 in savings & wants to use all of it for college. What is another option?
Keep your grades high & apply for an academic scholarship
Apply for grants to see if you qualify for financial help
Save your money & try to get an on- or off-campus job
Try a low-interest loan that can be paid AFTER graduation
11
Provides a part-time job on campus. Money is applied to fees owed to the college or university.
Grant
Student Loan
Scholarship
Work study
12
What can be a benefit to junior colleges?
Helps adjust to life after high school slowly
Less expensive
Taking the basic courses while saving money
All could be benefits
13
Which is NOT true about student loans?
Loans are repaid a little at a time (usually w/ interest)
Some loans offer a grace period before interest is charged
Loans can be forgiven/paid off by a future employer
Loans never have to be paid back
