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Financial Aid Literacy GEAR UP Flashcards | StudBud
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Financial Aid Literacy GEAR UP
Financial Aid Literacy GEAR UP
30 terms
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Flashcards
30 cards
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Practice quiz
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Questions
30
Answers
1
Do you have to complete a FAFSA if you plan on attending college?
yes
no
2
Are college books included in your tuition fees?
yes
no
3
What does
GPA
stand for?
Graduate points added
Grade point average
4
Should you be your own self advocate at college
no
yes
5
MT Tech
tuition only
for academic school year......
$6561.00
$13560.00
$4900.00
6
Where can you fill out your FAFSA online?
fafsa.gov
freemoney.org
financialaid.com
fafsa.com
7
The FAFSA is a one-time application...
False
True
8
Are you ready for the next chapter in your life?
maybe
no
yes
9
What does EFC stand for?
Easy Financial Credit
Estimated Financial Cost
Expected Family Contribution
Expected Financial Cost
10
MSU-Bozeman
tuition only
for academic year.....
$12500.00
$6850.00
$3200.00
11
Do you have to pay back scholarships?
no
yes
12
Should you have a budget while in college?
yes
no
13
Define what is a budget...
helps you to spend all of your money
helps you track your money & spending
14
What is a Pell Grant?
Award that is based on need
Award that has to be paid back
Award that you need to work off
Award that does not need to be repaid
15
Select all that are Indirect Costs of college....
All of the Above
Transportation
Personal Expenses
Books
16
Do you have to repay a pell grant?
No
Yes
17
Do credit cards allow individuals to obtain the use of money they do not have?
True
False
18
What does FAFSA stand for?
Free Assistance for Schools in America
Free Application for Financial Student Aid
Financial Assistance For Students in America
Free Application for Federal Student Aid
19
Aid awarded through the FAFSA can be combined with other scholarships.
True
False
20
What does the Expected Family Contribution (EFC) refer to....
Amount the family is required to pay for college.
Amount the family can afford to pay for 1 year of college.
The amount that the family will receive to pay for college.
21
Who pays the interest on a subsidized student loan?
parents
federal government
you
22
Should you take out credit credit card if you don't have a job?
True
False
23
Do you have to repay a loan?
No
Yes
24
What are the following types of financial aid?
Federal and State Grants
Loans
Work Study
All of the Above
25
Estimate how much books might cost....
$850
$500
$1300
26
Should you take out credit cards as a college student?
no
yes
27
Is a student loan money that is borrowed, and paid back with interest?
False
True
28
How long do you think it takes the average student to pay their loans off ?
18 years
12 years
6 years
29
If my parents save for college,we can still qualify for finacial aid?
false
true
30
Unsubsidized loans, is the borrower responsible for the interest payments while in school.?
False
True
