1 200 100generalinfofafsaloanswork-study and more grants 300 400 500 600 700 200 100 300 400 500 600...

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1 200 100 General Info FAFSA Loans Work-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 FINANCING COLLEGE JEOPARDY

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Page 1: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

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GeneralInfo

FAFSA LoansWork-Studyand more

Grants

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Page 2: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

2

Name three types of financial aid?

100

Page 3: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

3

Loans, grants, and scholarships

(also work-study and educational savings plans)

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Who should you contact to talk about your

financial aid package?

Page 5: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

5

The Financial Aid Officeat the school to which you

applied

Page 6: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

6

What’s the difference between a loan and a

grant?

300

Page 7: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

7

Loans have to be repaid.Grants are “free” money.

Page 8: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

8

TRUE or FALSE:Enrolling as a part-time student will affect your financial aid package.

400

Page 9: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

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TRUEYour status as a full-time or part-time student determines

your eligibility for aid. Generally, more aid is available for full-time

students.

Page 10: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

10

Name three sources of financial aid.

500

Page 11: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

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•The federal government•The state government•The school you plan on attending•Employers•Banks•Scholarship organizations•Family•Faith-based organizations

Page 12: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

12

What is the “net price” of a college?

600

Page 13: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

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The amount of money a family must secure through loans, work-study, or cash deposits to attend a

given school.

advertised cost of school– grants, scholarships, & discounts

net price

Page 14: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

14

Other than tuition, name 2 expenses associated with the

cost of college.

700

Page 15: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

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•Room & Board•Textbooks

•Transportation•Meals

Page 16: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

16

TRUE or FALSE:The FAFSA is free to

complete.

100

Page 17: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

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TRUEYou should not pay any fee to

complete the FAFSA. It is FREE and free assistance is

available.

Page 18: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

18

What is the earliest you can complete the FAFSA for the

upcoming school year?

200

Page 19: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

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January 1st

ex. For the 2012-2013 school year, you can start the

FAFSA on January 1, 2012.

Page 20: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

20

What are the age requirements for the FAFSA?

300

Page 21: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

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There are none.The FAFSA is open to students of any age.

Page 22: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

22

How often should you complete the FAFSA?

400

Page 23: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

23

Every year you plan on attending

school.

Page 24: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

24

What does EFC stand for?

500

Page 25: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

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Expected Family Contribution

Page 26: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

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What is the best time to complete your FAFSA?

600

Page 27: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

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The sooner, the better.

You can fill it out as early as Jan. 1st but you will need your tax

information.

Page 28: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

28

What two types of assets do you NOT need to include in

your FAFSA?

700

Page 29: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

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Retirement and business assets

Page 30: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

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TRUE or FALSE:The federal government only gives

out loans to students.

100

Page 31: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

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FALSEThe Free Application for

Federal Student Aid (FAFSA) can qualify BOTH

students and their parents for loans to help pay for

college.

Page 32: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

32

What is the name of the federal loan given to parents

of college students?

200

Page 33: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

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The PLUS loan

Page 34: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

34

What is the name of the federal loan given to most

students?

300

Page 35: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

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The Stafford loanSome students also qualify for a

Perkins loan.

Page 36: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

36

What does it mean if you get a loan that is “subsidized”?

400

Page 37: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

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The government will pay the interest on your

loan while you are in school.

Page 38: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

38

When do you have to start repaying your federal loans?

500

Page 39: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

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Six months after you have completed school or stopped

enrolling.

Page 40: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

40

What is the difference between a federal loan

and a private loan?

600

Page 41: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

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Federal• serviced by the gov’t• 6-month grace period• deferral & forgiveness

options• different repayment

plans

Private• serviced by a bank•may not have a grace

period•may not have deferral

or forgiveness options•may not have flexible

repayment options

Page 42: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

42

Name one instance when a loan payment

can be deferred?

700

Page 43: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

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•Enrollment in school•Economic hardship•Unemployment•Military Service

Page 44: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

44

How do you qualify for work-study?

100

Page 45: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

45

Check the work-study option when you file

the FAFSA.(Your FAFSA information will

determine your eligibility for work-study.)

Page 46: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

46

How do I find awork-study job?

200

Page 47: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

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The Financial Aid Office at your college can tell you where to find work-study job listings both on and off

campus.

Page 48: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

48

When do I get the money I earn through

work-study?

300

Page 49: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

49

Work-study money is given in the form of a

paycheck.Depending on your job, you may get

a weekly, bi-weekly, or monthly check.

Page 50: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

50

Is there a limit to the amount of money you

can earn through a work-study job?

400

Page 51: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

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YesThe amount of work-study

money you can earn per year is determined by your

FAFSA and shown on your Student Aid Report.

Page 52: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

52

TRUE or FALSE:Individual colleges

offer their own grants and scholarships

500

Page 53: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

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TRUE!Financial aid is available from

colleges themselves as well as the federal and

state government.

Page 54: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

54

What is the difference between financial aid

given by colleges and aid given by the government?

600

Page 55: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

55

Aid from Colleges•Contingent on your

enrollment to that particular school•May take more

factors into consideration than

just the FAFSA

Aid from Gov’t•Not linked to a particular school

•Determined by FAFSA/PHEAA

Page 56: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

56

How do I qualify for financial aid from

individual colleges?

700

Page 57: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

57

1. Complete the FAFSA

2. Meet all school-based deadlines (which tend to be much earlier than FAFSA deadlines)

Page 58: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

58

TRUE or FALSE:Grants are “free”

money and do not need to be repaid.

100

Page 59: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

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TRUE

Page 60: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

60

What is a Pell grant?

200

Page 61: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

61

A Pell grant is a grant given by the

federal government for post-secondary

education.

Page 62: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

62

What factors determine if you

get a grant?

300

Page 63: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

63

• Financial Need(determined by your FAFSA)

• Timeliness(grant money is given on a“first come-first serve” basis. The earlieryou complete your FAFSA, the better)

Page 64: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

64

Other than the federal government, who else

gives out grants for college?

400

Page 65: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

65

The state of Pennsylvania

Page 66: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

66

How do you get a state grant?

500

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67

1. Complete the FAFSA.2. Complete the state

grant form. In Pennsylvania, it is called the PHEAA.

(Pennsylvania Higher Education Assistance Agency)

Page 68: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

68

Do I have to be a resident of Pennsylvania

to get a Pennsylvania state grant?

600

Page 69: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

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Yes.For more details about state grant eligibility, visit www.pheaa.org

Page 70: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

70

Where can I find the PHEAA application?

700

Page 71: 1 200 100GeneralInfoFAFSALoansWork-Study and more Grants 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500 600 700 200 100 300 400 500

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When you complete the FAFSA, there will be a link to the PHEAA

application on the confirmation page.

*Remember to download the signature page, sign it, and mail it in!