You have been awarded a work-study grant for $2,500. Which of the following schedules is most appropriate? You can work for up to 36 weeks.(1 point)
Responses
$12.50 an hour, 6 hours a week, 33 weeks
$12.50 an hour, 6 hours a week, 33 weeks
$15 an hour, 10 hours a week, 33 weeks
$15 an hour, 10 hours a week, 33 weeks
$15 an hour, 2 hours a week, 33 weeks
$15 an hour, 2 hours a week, 33 weeks
$30 an hour, 4 hours a week, 20 weeks
$30 an hour, 4 hours a week, 20 weeks
Skip to navigation
The most appropriate schedule would be: $15 an hour, 10 hours a week, 33 weeks.
This schedule allows you to work a reasonable number of hours per week at a competitive hourly rate for a longer period of time, maximizing your earnings from the work-study grant.
Identify a way to pay for college that needs to be repaid in the future.(1 point)
Responses
scholarship
scholarship
grant
grant
paycheck from a work-study job
paycheck from a work-study job
student loan
student loan
Skip to navigation
student loan
A student loan is a way to pay for college that needs to be repaid in the future.
Not paying your student loan payments will result in which of the following?(1 point)
Responses
the offer of additional loans
the offer of additional loans
increase in credit score
increase in credit score
decrease in credit score
decrease in credit score
cancellation of student loan
cancellation of student loan
Skip to navigation
decrease in credit score
Not paying your student loan payments will result in a decrease in your credit score. This can negatively impact your ability to borrow money in the future for things like a car loan or a mortgage.
What percent of any earnings from jobs or gifts should you try to put into a savings account?(1 point)
%
Skip to navigation
It is recommended to try to put around 10-15% of any earnings from jobs or gifts into a savings account.
How many main types of financial aid are available once you have decided to go to college?(1 point)
There are generally three main types of financial aid available once you have decided to go to college. These include scholarships, grants, and student loans.
Anneliese will attend a school next fall that charges $32,000 in tuition for the first year. She has received a scholarship for $16,000, a Pell grant for $4,000, and a work-study grant for $2,500. To the nearest tenth of a percent, how much of her expenses are covered by the scholarship, the grant, and the work-study program put together?(1 point)
%
Skip to navigation