Paying for College | Life Skills - Quizizz

Quiz

Paying for College

9th - 12th grade

Played 12943 times

50%average accuracy

Life Skills

3 years ago by

19

Save

Edit

Live modes

Start a live quiz

Asynchronous learning

Assign homework

20 questions

Preview

Show answers

Question 1
SURVEY
Ungraded
20 seconds
Report an issue
Q.
What is a benefit of going to college and having a college degree?
answer choices
Lower lifetime earnings
Lower interest rates on future loans
Expanded professional and social netowrk
Guaranteed starting salary of $50,000 after graduation
<p>Lower lifetime earnings</p>
alternatives
<p>Lower interest rates on future loans</p>
<p>Expanded professional and social netowrk</p>
<p>Guaranteed starting salary of $50,000 after graduation</p>
answer explanation
Tags:
Topics:
Question 2
SURVEY
Ungraded
20 seconds
Report an issue
Q.
All of the following are costs of going to college EXCEPT...
answer choices
Tuition and fees
Room and board
Textbooks and school supplies
Scholarships and grants
<p>Tuition and fees</p>
alternatives
<p>Room and board</p>
<p>Textbooks and school supplies</p>
<p>Scholarships and grants</p>
answer explanation
Tags:
Topics:
Question 3
SURVEY
Ungraded
30 seconds
Report an issue
Q.
Which is TRUE about sticker price and net price? (hint: choose 2 correct answers)
answer choices
Net price is the published cost of going to a school
Sticker Price is the published cost of going to a school
Net price is the sticker price minus scholarships & grants
Sticker price is the net price minus scholarships & grants
<p>Net price is the published cost of going to a school</p>
alternatives
<p>Sticker Price is the published cost of going to a school</p>
<p>Net price is the sticker price minus scholarships & grants</p>
<p>Sticker price is the net price minus scholarships & grants</p>
answer explanation
Tags:
Topics:
Question 4
SURVEY
Ungraded
20 seconds
Report an issue
Q.
When does the FAFSA filing period open every year?
answer choices
January 1st
June 1st
October 1st
December 1st
<p>January 1st</p>
alternatives
<p>June 1st</p>
<p>October 1st</p>
<p>December 1st</p>
answer explanation
Tags:
Topics:
Question 5
SURVEY
Ungraded
20 seconds
Report an issue
Q.
Why should you file the FAFSA as early as possible?
answer choices
It can help your chances of being accepted into schools
Aid is given out on a first-come, first-serve basis
You're guaranteed to get more merit-based scholarships
You'll get a lower interest rate on federal student loans
<p>It can help your chances of being accepted into schools</p>
alternatives
<p>Aid is given out on a first-come, first-serve basis</p>
<p>You're guaranteed to get more merit-based scholarships</p>
<p>You'll get a lower interest rate on federal student loans</p>
answer explanation
Tags:
Topics:
Question 6
SURVEY
Ungraded
30 seconds
Report an issue
Q.
What kinds of aid are you eligible for by filing the FAFSA? (hint: choose 3 correct answers)
answer choices
Grants and Scholarships
Private Student Loans
Work-Study
Federal Student Loans
<p>Grants and Scholarships</p>
alternatives
<p>Private Student Loans</p>
<p>Work-Study</p>
<p>Federal Student Loans</p>
answer explanation
Tags:
Topics:
Question 7
SURVEY
Ungraded
20 seconds
Report an issue
Q.
How do scholarships and grants differ?
answer choices
Scholarships are need-based; grants are merit-based
Grants are private forms of aid; scholarships are federal
Grants are need-based; scholarships are merit-based
They're not different; they are one and the same
<p>Scholarships are need-based; grants are merit-based</p>
alternatives
<p>Grants are private forms of aid; scholarships are federal</p>
<p>Grants are need-based; scholarships are merit-based</p>
<p>They're not different; they are one and the same</p>
answer explanation
Tags:
Topics:
Question 8
SURVEY
Ungraded
20 seconds
Report an issue
Q.
What do you need to file your FAFSA if you're a dependent?
answer choices
Just your tax forms
Your high school student ID number
Your and your parents' tax forms from 2 years priors
A pay stub if you had a job in the past year
<p>Just your tax forms</p>
alternatives
<p>Your high school student ID number</p>
<p>Your and your parents' tax forms from 2 years priors</p>
<p>A pay stub if you had a job in the past year</p>
answer explanation
Tags:
Topics:
Question 9
SURVEY
Ungraded
20 seconds
Report an issue
Q.
Which is TRUE about the FAFSA?
answer choices
You only need to file the FAFSA 1x in your college career
Your parents must earn below a set amount for you to apply
You need to file it at the start of every quarter/semester
There is no cost to file the FAFSA
<p>You only need to file the FAFSA 1x in your college career</p>
alternatives
<p>Your parents must earn below a set amount for you to apply</p>
<p>You need to file it at the start of every quarter/semester</p>
<p>There is no cost to file the FAFSA</p>
answer explanation
Tags:
Topics:
Question 10
SURVEY
Ungraded
20 seconds
Report an issue
Q.
Which is TRUE about the EFC?
answer choices
It's the cost of filing the FAFSA
It's how much you & your family are expected to pay for college
It's another term for "net price"
It's how much your parents must contribute towards college
<p>It's the cost of filing the FAFSA</p>
alternatives
<p>It's how much you & your family are expected to pay for college</p>
<p>It's another term for "net price"</p>
<p>It's how much your parents must contribute towards college</p>
answer explanation
Tags:
Topics:
Question 11
SURVEY
Ungraded
20 seconds
Report an issue
Q.
Which of the following is the correct flow of submitting/receiving these documents?
answer choices
SAR > FAFSA > Financial Aid Package
Financial Aid Package > SAR > FAFSA
FAFSA > Financial Aid Package > SAR
FAFSA > SAR > Financial Aid Package
<p>SAR > FAFSA > Financial Aid Package</p>
alternatives
<p>Financial Aid Package > SAR > FAFSA</p>
<p>FAFSA > Financial Aid Package > SAR</p>
<p>FAFSA > SAR > Financial Aid Package</p>
answer explanation
Tags:
Topics:
Question 12
SURVEY
Ungraded
30 seconds
Report an issue
Q.
What are two things you will need to do if you accept a Federal student loan?
answer choices
Agree to an official credit check by the government
Complete entrance counseling
Pay a refundable deposit to secure your loan
Sign a Master Promissory Note
<p>Agree to an official credit check by the government</p>
alternatives
<p>Complete entrance counseling</p>
<p>Pay a refundable deposit to secure your loan</p>
<p>Sign a Master Promissory Note</p>
answer explanation
Tags:
Topics:
Question 13
SURVEY
Ungraded
20 seconds
Report an issue
Q.
Which of the following is TRUE about how you get your financial aid?
answer choices
All financial aid is paid directly to you in one payment
All financial aid is paid to you in installments
Aid is 1st applied to your account; you get the rest
The school receives all of your financial aid
<p>All financial aid is paid directly to you in one payment</p>
alternatives
<p>All financial aid is paid to you in installments</p>
<p>Aid is 1st applied to your account; you get the rest</p>
<p>The school receives all of your financial aid</p>
answer explanation
Tags:
Topics:
Question 14
SURVEY
Ungraded
20 seconds
Report an issue
Q.
Which of the following is TRUE about federal and private student loans?
answer choices
Private loans may be subsidized; federal ones are not
Both types offer the same repayment plans
Private loans always offer fixed interest rates
Fed. loans don't have prepayment penalties; private ones may
<p>Private loans may be subsidized; federal ones are not</p>
alternatives
<p>Both types offer the same repayment plans</p>
<p>Private loans always offer fixed interest rates</p>
<p>Fed. loans don't have prepayment penalties; private ones may</p>
answer explanation
Tags:
Topics:
Question 15
SURVEY
Ungraded
20 seconds
Report an issue
Q.
How can you lower the total amount you in pay in student loans?
answer choices
Choose a repayment plan with a longer term
Accept private loans first, then federal ones
Make interest payments during your grace period
Accept loans with variable interest rates, not fixed ones
<p>Choose a repayment plan with a longer term</p>
alternatives
<p>Accept private loans first, then federal ones</p>
<p>Make interest payments during your grace period</p>
<p>Accept loans with variable interest rates, not fixed ones</p>
answer explanation
Tags:
Topics:
Question 16
SURVEY
Ungraded
20 seconds
Report an issue
Q.
If you select a repayment plan with a longer term for your loans...
answer choices
You will have a larger monthly pyament
You will have a smaller monthly payment
You will pay less in interest
You will pay the same amount in interest
<p>You will have a larger monthly pyament</p>
alternatives
<p>You will have a smaller monthly payment</p>
<p>You will pay less in interest</p>
<p>You will pay the same amount in interest</p>
answer explanation
Tags:
Topics:
Question 17
SURVEY
Ungraded
20 seconds
Report an issue
Q.
Which is TRUE about loan payments?
answer choices
$ goes 1st towards the principal, then the accrued interest
Interest rate has little impact on total cost of the loan
Payments are not split between interest and principal
Interest can be added to the principal if it goes unpaid
<p>$ goes 1st towards the principal, then the accrued interest</p>
alternatives
<p>Interest rate has little impact on total cost of the loan</p>
<p>Payments are not split between interest and principal</p>
<p>Interest can be added to the principal if it goes unpaid</p>
answer explanation
Tags:
Topics:
Question 18
SURVEY
Ungraded
30 seconds
Report an issue
Q.
What can happen if you don't make payments towards your student loans? (hint: choose 2 correct answers)
answer choices
You will owe all interst in full after 270 days
Your loan balance may become due in full, but no interest
Your loan servicer will contact you via phone, email, etc.
Your credit score may suffer
<p>You will owe all interst in full after 270 days</p>
alternatives
<p>Your loan balance may become due in full, but no interest</p>
<p>Your loan servicer will contact you via phone, email, etc.</p>
<p>Your credit score may suffer</p>
answer explanation
Tags:
Topics:
Question 19
SURVEY
Ungraded
20 seconds
Report an issue
Q.
When looking at a financial aid award letter, which type(s) of aid would you have to pay BACK?
answer choices
Federal Pell Grant
Direct Subsidized Loan
Merit Scholarship
Federal Work-Study
<p>Federal Pell Grant</p>
alternatives
<p>Direct Subsidized Loan</p>
<p>Merit Scholarship</p>
<p>Federal Work-Study</p>
answer explanation
Tags:
Topics:
Question 20
SURVEY
Ungraded
20 seconds
Report an issue
Q.
In what order should you accept different types of financial aid?
answer choices
Work-study, scholarships, federal loans, private loans
Private loans, scholarships, work-study, federal loans
Scholarships, work-study, federal loans, private loans
Scholarships, work-study, private loans, federal loans
<p>Work-study, scholarships, federal loans, private loans</p>
alternatives
<p>Private loans, scholarships, work-study, federal loans</p>
<p>Scholarships, work-study, federal loans, private loans</p>
<p>Scholarships, work-study, private loans, federal loans</p>
answer explanation
Tags:
Topics:

Quizzes you may like

Introduction to Personal Finance

High School Graduation

Student Financing

Sources of Finance

Financial Pitfalls

Personal Finance

Types of Insurance

Multiplication Madness

Why show ads?

Report Ad