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Paying for College Flashcards | StudBud
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Paying for College
Paying for College
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1
You are an education major, and part of your financial aid is the money you earn as a tutor. What is this called?
Loan
Work Study
Grant
Scholarship
2
Savings are ...?
Money they college campus award you
Money that you get off discounts in select stores.
Money you have to pay for every year
The money that you or your family have earned and not spent
3
Net Price Calculator is defined as...
An online tool that gives you an estimate of tuition and fees
A tool that gives you a personalized estimate of room and board
An online tool that gives you an estimate of what college will cost
A tool that gives you a personalized estimate
4
Your parent is single and your family income qualified you to receive a need-based award from the U.S. Government
Grant
Scholarship
FAFSA
Loan
5
Financial Aid is money to help pay for college or your career.
False
True
6
Cost of Attendance include the following...
Tuition, Room, Books, Supplies and Transportation
Room & Board, Books, Travel and Personal Expenses
Tuition & fees, Room & Board, Books, Personal and Travel expenses
Tuition, Athletic fees, Books, Room & Board, Supplies and Travel expenses
7
An Outside Scholarship or "Private Scholarship" is offered by a private organization not by the government or a college
False
True
8
Student loans do not have to be paid back.
True
False
9
Net Price is the true amount a student will pay for a college
False
True
10
An Associate degree consists of the following...
Attending school for six years to receive a degree
Attending school for three years to receive a degree
Attending school for two years
A two-year college degree from a community college, university or college
11
Cost of Attendance is the total amount of college expenses before financial aid.
True
False
12
A kind of "Gift Aid" financial aid that doesn't have to be paid back.
Grant
Work Study
Loans
Scholarships
13
What is Merit Aid?
Money given because you are legacy
Money given to you because of your GPA in High School
Financial aid given to students based on their personal achievements
Money given to you because you are smart
14
College credits mean...
that passing that course counts towards your degree
passing the courses because you studied
passing the course counts towards your exams
the movie theater credits
15
An Official Transcript is...
The official sealed record of your course work
The official record of your AP courses
The official signed record of your course work
The official signed/sealed record of your course work at school or college
16
You received $5,000 per year from the lottery fund in your state. This is called...
Grant
Loan
Scholarship
Refund
17
Financial aid consists of the following...
Grants, loans and scholarships
Grants, loans, refunds and scholarships
Grants, work-study, loans and scholarships
Grants, loans, internships and private scholarships
18
Residency Requirements is the amount
of time a student has to live in a state before he or she is eligible for in-state.
True
False
19
What is Need Based Financial Aid?
Scholarships given because you cannot afford to attend school
Grants and Scholarships
Grants, Scholarships, and loans
Grants, scholarships, loans & work study given due to financial need
20
You receive $500 from the local cultural society.. What is this called?
Scholarships
Grant
Loans
Work study
21
A Bursar is the college official responsible for handling billing and payments for tuition, fees, housing and expenses.
False
True
22
FAFSA is a free application for federal student aid.
True
False
23
Demonstrated financial need is the difference between- Cost of Attendance(COA) & your Expected Family Contribution(EFC)
True
False
24
An Award letter is...
The official responsible for handling your financial aid
The college grants that explains your credits
The document you receive from a college that explains your financial aid
The document you receive from a college that explains your classes
25
You are a high school athlete. Colleges are offering to pay your Tuition while you play for their college team. This is
A gift
A sacrifice
A Scholarship
A Loan
26
Work study is...
A program that allows a student to work full time and attend college
A work program that starts your Sophomore year
A program that consists of volunteering
A program that allows a student to work part time (financial aid package)
27
A Bachelor's degree is an...
Attending school for two years
is an undergraduate academic degree awarded by colleges and universities
Attending school for eight years
undergraduate academic degree awarded by high schools
28
Need Blind Admission is a policy of making college admissions decisions without looking at the applicant's financials.
True
False
29
Define the term Scholarship
Money given to you that has to be repaid with interest
A kind of gift aid that does not have to be paid back
A kind of gift aid that has to be paid back
Free money given by the federal government
30
The ACT has the following sections...
English, Math, Science, Social Studies, (Writing) Optional
English, Math, Reading, Science (Writing) Optional
Math, Science, Engineering, Reading, (Writing) Optional
Math, Science, Reading, College Readiness, and Writing
31
A 529 Savings Plan is a State-sponsored investment or Qualified Tuition Plan helps families save money for college.
False
True
32
The Financial Aid (FAFSA) opens on October 1st each year
False
True
33
You borrowed money through a federal program to pay for your education this year. What is this called?
Scholarships
Work study
Grant
Loan
34
Undergraduate is a college student working toward an Associate or Bachelor's degree
False
True
35
A Master's degree is a higher level of education obtained from a college or university that typically takes two years
True
False
36
Priority Date
is the hour by which your application must be received to be given the strongest consideration.
True
False
37
Student Aid Report (SAR) is the report sent to your family after you submit the following...
The Free Application for Financial Blessings for college
The Free Application for Financial Aid (FASFA) that tells your ECF
The Free Application for Federal Student Aid (FAFSA) without your EFC
The Free Application for Federal Student Aid (FAFSA) that tells your EFC
38
The document you receive from a college that explains the terms of the financial aid that the college is offering you.
Letter of Acceptance
Financial aid letter
Award letter
Letter of Admittance
39
You borrowed money through a federal program to pay for your education...
Work-study
Grants
Loans
Scholarships
40
Expected Family contribution which measures your family's financial strength & it determines your financial aid award
True
False
41
CSS/Financial Aid PROFILE is financial aid application used by more than 3000 colleges, universities and programs
True
False
42
Reserved Officers' Training Corps (ROTC) is a program offered by the military that offers scholarships for college
True
False
43
You received $500 from your local church after writing an essay. This is called...
A Loan
A Private Scholarship
An Endowment Fund
A 529 Savings account
44
Ms. Griffin is from Benton, AR
True
False
45
The ACT is FREE
False
True
46
www.act.org is the website where you can register for the ACT
True
False
