Understanding College Savings Answers

Kevin is in 8th grade and he wants to attend college. He claims he needs to research how much college will cost for his chosen degree and fill out the FAFSA before he can prepare and save for college. Which statement about his claim is correct?

Jorge is attending college next year. He just got information on the college costs and the financial aid package the college is offering. Jorge knows his parents can contribute $4,500 each year. Jorge’s College Costs & Financial Aid Package per YearCostsFinancial Aid PackageTuition & FeesGrants & Scholarship$26,000$18,500Room & BoardWork-Study$12,500$8,500How much will Jorge need to pay each year from his own savings and from loans?

Martha will be entering high school in a couple of years. Which steps should she take to ensure she has money to pay for college? Check all that apply.

Elisa is nearing graduation. She just met with her counselor and he showed her this information.Elisa’s College Costs & Payment Options per YearCostsMethods of PaymentTuition & FeesGrants & Scholarship$9,500$9,500Room & BoardWork-Study$11,500$8,000If she pays the balance with a student loan, how much will she need to borrow for all four years?

Annalise received financial aid offers from two universities. Financial Analysis for Option ACosts per YearFinancial Aid Package per YearTuition & FeesScholarships & Grants$10,000$7,000Room & BoardWork-Study$11,500$4,000Financial Analysis for Option BCosts per YearFinancial Aid Package per YearTuition & FeesScholarships & Grants$28,000$18,000Room & BoardWork-Study$9,000$4,000Which statement about the costs per year is true?

Which form must be filled out and submitted to determine the types and amount of financial aid available to a student?

Marcel is nearing graduation. He just met with his counselor and she showed him this information. Marcel’s College Costs & Payment Options per YearCostsMethods of PaymentTuition & FeesGrants & Scholarships$12,500$6,500Room & BoardWork-Study$8,200$9,800If he pays the balance with a student loan, how much will he need to borrow for his first year?

Stephen plans to attend community college for two years. His expenses are only $2,000 each year, because his parents are paying the rest. He earned a one-time $900 scholarship. How much will he need to pay for the two years of college from his savings or by working?

Desmond told his two friends, Marley and Brianna, that he was awarded a $10,000 grant for college if he becomes a math or science teacher. Desmond wants to teach physics.Marley told him he should take the grant. Brianna told him not to take the grant. Which statement about their advice is true?

Roderick is in 11th grade and wants to attend college to become a marine biologist. He knows he will need funds. What should he do to begin the process of planning for paying for his education?