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FinCap Friday: Money For College Costs Flashcards | StudBud
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FinCap Friday: Money For College Costs
FinCap Friday: Money For College Costs
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1
What are scholarships and grants?
Free money that can only be used to buy books and supplies for school
Free money for college that you don’t have to repay
Loans provided by your college for tuition
Loans provided by the government for tuition
2
What’s the best way to find unique scholarships and grant opportunities?
Solely leveraging social media
Using online scholarship search engines
Calling up your local library
Asking family and friends
3
If your family invested $25 per week from age 5 to 18 and your investments averaged 7% per year, you'd have:
$5,740
$10,550
$25,860
$18,330
4
What is one mistake that parents make when it comes to paying for their kids to go to college?
They put money in a savings account instead of a checking account
They wait until their child is older to begin saving money
They submit a FAFSA application for aid
They save more than they need to
5
A 529 college savings plan is a type of investment account that helps families invest in things like stocks and bonds.
False
True
