In order to get a Subsidized Direct Loan, you must....

meet the Expected Family Contribution criteria.

What are the two main types of scholarships?

Need-based and Merit-based scholarships

The Work-Study program provides part-time jobs for students who...

Have demonstrated financial need

You can use Work-Study wages to...

pay for educational expenses like tuition, books and rent.

With Student Loans, you can...

borrow up to $57,500 for a Bachelor's degree.

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FINANCIAL LITERACY AT RCC: SURVIVING COLLEGE

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A quiz to determine how much an RCC student knows about different types of financial aid.

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Questions 12

Answers

1
In order to get a Subsidized Direct Loan, you must....
plan on transferring to university.
ask the Director of Financial aid for permission.
have a cumulative GPA of 3.0
meet the Expected Family Contribution criteria.
2
What do most scholarship applications require?
Cumulative GPA
Application fee
High School transcripts
Scholarship Essay
3
What is the main source of grant funding for college students in the United States?
Pell Grant
Oregon Opportunity Grant
Fellowship Grant
Grab-n-Go Grant
4
Students doing work-study can...
work up to 20 hours a week
work up to 40 hours a week
not show up to work if they are tired
earn up to $2,100 per quarter
5
What are the two main types of scholarships?
Need-based and Merit-based scholarships
Academic and Scholastic scholarships
Free money and payback scholarships
Essay and non-essay scholarships
6
The Work-Study program provides part-time jobs for students who...
Have not filed tax returns yet
Have done work-study before
At least have another part-time job
Have demonstrated financial need
7
How long can you use the Pell Grant?
18 full-time equivalent terms
I'll find out when I get there!
No lifetime limit on Pell Grant funding
4 years, as a full-time student
8
When is the earliest you can apply for a Pell Grant every year?
January 1
First day of the term
October 1
April 15
9
You can use Work-Study wages to...
play the lottery
take a vacation to Europe
only pay for tuition and books
pay for educational expenses like tuition, books and rent.
10
What is the maximum Pell Grant award for the 23/24 school year?
$7395 per year
$3250 per quarter
About $5850 every six months
Why does this always have to be about money?
11
If you earn a scholarship, when can you usually start using the money?
Immediately
The next quarter
As soon as you write the Thank You letter
The next academic year
12
With Student Loans, you can...
pay up to 10% interest for a subsidized loan.
apply without completing a FAFSA.
borrow up to $57,500 for a Bachelor's degree.
borrow as much as you need.

FINANCIAL LITERACY AT RCC: SURVIVING COLLEGE Flashcards | StudBud