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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
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Questions
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Answers
1
Which of the following is NOT an example of a work study job?
Working at the university library
Working in the campus recreation center
Working at Chilis
Working in the college bookstore
2
A person has $10,000 in savings & wants to use all of it for college. What is another option?
Apply for grants to see if you qualify for financial help
Try a low-interest loan that can be paid AFTER graduation
Keep your grades high & apply for an academic scholarship
Save your money & try to get an on- or off-campus job
3
How much does Allison have to pay if her tuition is $6,130 a year for 2 years?
$12,260
$24,520
$3,065
$6,130
4
Jen spent $18,000 last year for college. If 5% was for books, how much did she pay for books?
$1,900
$2,100
$900
$1,000
5
Awarded based on outstanding achievements like athletics, academics, community involvement.
Student Loan
Grant
Work study
Scholarship
6
Provides a part-time job on campus. Money is applied to fees owed to the college or university.
Student Loan
Scholarship
Grant
Work study
7
Which is NOT true about student loans?
Loans are repaid a little at a time (usually w/ interest)
Loans never have to be paid back
Some loans offer a grace period before interest is charged
Loans can be forgiven/paid off by a future employer
8
What's the cost for 1 year: $25,085 tuition (per year) with $2,800 scholarship (per semester)?
$27,885
$19,485
$22,285
$30,685
9
What can be a benefit to junior colleges?
Helps adjust to life after high school slowly
Taking the basic courses while saving money
Less expensive
All could be benefits
10
Which college payment option would be your PERSONAL first choice?
Apply for grants or scholarships
Work study or an outside job
Apply for student loans
Use my savings
11
Which of the following is the most important thing YOU can do to prepare for college?
Maintain good grades
Start filling out federal aid applications
Start career training
Begin applying to universities
12
Why is it wise for a student to go to college, even though it costs a lot of money?
Good students will not have to pay the money back.
Colleges need students in order to make money.
They'll earn that money back by getting a better paying job
College is mandatory.
13
If Rachel's family saves $500 a month since she was born, how much will she have when she's 18?
$100,000
$108,000
$95,000
$106,000
14
John attends a 4-year university with tuition costs of $18,910. How much are all 4 years?
$18,910
$90,460
$37,820
$75,640
15
These are funds that have to be paid back, usually with interest added.
Scholarship
Grant
Student Loan
Work study
16
Funds awarded based on personal or family financial need and do not have to be paid back.
Grant
Student Loan
Work study
Scholarship
