EverFi Financial Literacy Lesson 6: Financing Higher Ed.
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  • Question 1
    30 seconds
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    Q.

    Making the choice to spend money on post secondary education pays off in the long run because:

    answer choices

    You or your parents can write it off your taxes.

    You can get grants and scholarships to pay for post secondary education while you are there.

    The salary you will earn with a degree will pay back the cost of college over your career.

    There are less expensive options for obtaining a post secondary education.

  • Question 2
    30 seconds
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    Q.

    Dimitri’s counselor told him that post secondary education can be expensive but can pay off in the long run, what does that mean?

    answer choices

    The salary you will earn with a degree will pay back the cost of college over your career.

    You can get grants and scholarships to pay for post secondary education while you are there.

    There are less expensive options for obtaining a post secondary education

    All of the above

  • Question 3
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    Q.

    It does not make sense to avoid post secondary education because of its cost since in the long run:

    answer choices

    You or your parents can write it off your taxes.

    The salary you will earn with a degree will pay back the cost of college over your career

    You can get grants and scholarships to pay for post secondary education while you are there.

    There are less expensive options for obtaining a post secondary education.

  • Question 4
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    Q.

    What are the benefits of attending a local community college?

    answer choices

    It is cheaper to earn an Associate’s degree at a community college and then transfer to a four-year college to finish.

    You can live at home and save dorm fees while earning an Associate’s degree.

    Choosing a local community college within closer driving range saves on transportation costs.

    All of the above.

  • Question 5
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    Q.

    Cutting down on costs by earning an Associate’s degree first and then transferring to a four-year college or university can be done by going to what type of higher education institution?

    answer choices

    A local community college.

    A trade school.

    A specialized training program.

    Both b and c are correct.

  • Question 6
    30 seconds
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    Q.

    Andrew doesn’t want to spend a lot of money on student loans, and does not qualify for grants. What is his best option for affording a Bachelor's Degree?

    answer choices

    He can enroll in a trade school and transfer his courses later.

    He can attend a specialized training program and transfer a couple of his courses.

    He can attend the local community college whose courses transfer to the public four-year college.

    None of these are correct.

  • Question 7
    30 seconds
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    Q.

    Which is NOT considered an additional cost beyond tuition for higher education?

    answer choices

    Textbooks and supplies

    Academic counseling

    Room and board

    Transportation

  • Question 8
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    Q.

    Textbooks, transportation and room and board are all...

    answer choices

    included in the price of attending a college or university.

    additional costs for attending a college or university.

    included in a school's tuition.

    usually offered to students who stay on campus.

  • Question 9
    30 seconds
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    Q.

    Which of these additional costs will most likely be the most expensive?

    answer choices

    Textbooks and supplies

    Academic counseling

    Room and board

    Transportation

  • Question 10
    30 seconds
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    Q.

    Preparing to pay for higher education can start in 9th grade or earlier by...

    answer choices

    applying for scholarships.

    opening a 529 plan.

    taking out student loans.

    applying for grants.

  • Question 11
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    Q.

    A 529 plan can help you save more money than a traditional savings account because...

    answer choices

    it is a tax free.

    it is given to you at a very young age.

    the interest rates are considerably better.

    it is linked to the stock market.

  • Question 12
    30 seconds
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    Q.

    Which is a tax-free savings account that can only used for educational expenses?

    answer choices

    Federal grants

    Needs-based scholarships

    Merit-based scholarships

    A 529 plan

  • Question 13
    30 seconds
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    Q.

    Which of the following is NOT true about the Free Application for Federal Student Aid (FAFSA)?

    answer choices

    You can fill the form out online or on paper.

    The earliest you can submit your FAFSA is January 1st of each year.

    Each state may have a different deadline for state financial aid.

    You can fill out the FAFSA if you are an independent or a dependent.

  • Question 14
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    Q.

    Which of the following is true about the Free Application for Federal Student Aid (FAFSA)?

    answer choices

    The earliest you can submit your FAFSA is October 1st of each year.

    The form is available online or on paper.

    States may have different deadlines for applying for state aid.

    All of the above

  • Question 15
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    Q.

    All of the following are true about the Free Application for Federal Student Aid (FAFSA) EXCEPT:

    answer choices

    The form is only available online.

    The earliest you can submit your FAFSA is October 1st of each year.

    You can fill out the FAFSA if you are independent or dependent.

    States have different deadlines for applying for state aid

  • Question 16
    30 seconds
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    Q.

    Earning a degree can be expensive but which example shows why it might be worth it?

    answer choices

    You are more likely to earn more money over your lifetime than if you did not have a degree.

    A degree allows you to earn a salary instead of an hourly wage.

    You can get a job that pays back the costs of a degree.

    A high school diploma allows you earn money instead of going into debt.

  • Question 17
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    Q.

    The fact that you are more likely to earn more money over your lifetime with a post secondary degree means...

    answer choices

    you should not be concerned about the amount of debt you go into to pay for it.

    the more money you pay for the degree guarantees a higher salary.

    the cost of a post secondary degree is worth it.

    the cost of a post secondary degree should be avoided

  • Question 18
    30 seconds
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    Q.

    Earning a degree can be expensive but which example shows why it might be worth it?

    answer choices

    Federal student loans are offered at low interest rates which makes it more affordable.

    Expensive degrees guarantee a low paying job afterwards.

    Individuals with a bachelor’s degree typically earn a higher annual salary than those without one.

    A high school diploma allows you earn money instead of going into debt

  • Question 19
    30 seconds
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    Q.

    Which of the following answers lists 4 year colleges from generally the least expensive to most expensive?

    answer choices

    In-state public university, private university, out-of-state public university

    In-state public university, out-of-state public university, private university

    Private university, in-state public university, out-of-state public university

    Out-of-state public university, private university, in-state public university

  • Question 20
    30 seconds
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    Q.

    What can affect whether a public or private university is affordable?

    answer choices

    The amount of financial aid that they offer.

    Whether you live in the state of the private university.

    Whether you are from "out of state" for the private university.

    The interest rates that the universities charge for their loans.

  • Question 21
    30 seconds
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    Q.

    What has the biggest impact on whether a 4 year university is affordable?

    answer choices

    Whether it is a public or private university.

    The amount of financial aid that the university offers.

    Whether you live in the same state as the university.

    The distance you live from the university.

  • Question 22
    30 seconds
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    Q.

    Living at home could save you money while enrolled in post secondary school or training because...

    answer choices

    it reduces costs of tuition.

    it reduces costs of room and board.

    it reduces costs of transportation.

    it reduces costs of books and supplies.

  • Question 23
    30 seconds
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    Q.

    Living at home while enrolled in post secondary school or training can save money on....

    answer choices

    books but it raises costs for tuition.

    transportation but it raise costs for books and supplies.

    books but it raises costs for transportation.

    room and board but it raises costs for transportation.

  • Question 24
    30 seconds
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    Q.

    Living on campus while earning your degree can help you save money on...

    answer choices

    transportation.

    room and board.

    books and supplies.

    tuition.

  • Question 25
    30 seconds
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    Q.

    What type of federal funding is free money, but is based on financial need only?

    answer choices

    Federal grants

    All federal scholarships

    The 529 Plan

    None of these are correct

  • Question 26
    30 seconds
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    Q.

    Federally-funded grants require the student to...

    answer choices

    earn above average grades.

    have a membership in a high school club.

    perform volunteer work for a local community agency.

    have financial need only.

  • Question 27
    30 seconds
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    Q.

    Maria is a high school senior. She wants to go to the local community college and become a nurse. Her grades are average, but she comes from a low-income family. What could she do to in order to afford the next step in her dream to become a nurse?

    answer choices

    Maria has to wait until she saves up enough money to pay for tuition.

    Maria could apply for federal grants to help pay for college.

    Maria can apply for need-based scholarships.

    Both b and c are correct.

  • Question 28
    30 seconds
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    Q.

    Everyone interested in post secondary education should complete the Free Application for Federal Student

    Aid (FAFSA) because...

    answer choices

    it gives you access to private student loans.

    it gives you access to private student loans.

    it allows you to be eligible for federal student aid and other scholarships and grants.

    it is a requirement for college admission.

  • Question 29
    30 seconds
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    Q.

    Which of the following is NOT a reason to complete the Free Application for Federal Student Aid (FAFSA)?

    answer choices

    It allows you to be eligible for early admission.

    It allows you to be eligible for federal student aid.

    It allows you to be eligible for some grants.

    It allows you to be eligible for many scholarships.

  • Question 30
    30 seconds
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    Q.

    All of the following are true about why it is important to complete the Free Application for Federal Student

    Aid (FAFSA) process EXCEPT:

    answer choices

    It allows you to be eligible for federal student aid.

    It allows you to be eligible for early admission.

    It allows you to be eligible for some grants.

    It allows you to be eligible for many scholarships.

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