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Ultimate College Financial Aid Quiz
by Staff
The words 'college tuition' strike fear in the hearts of most parents (and even potential parents). But fear not. There is a lot of financial aid out there, and the federal government is trying to make it easier for students to find it and apply for it. This quiz could help you navigate your way through the financial aid maze.

What was the average cost of a private four-year college for the 2009-10 school year?

  • $20,000
  • $23,000
  • $26,000
  • $29,000

What's the most expensive college in the United States?

  • Sarah Lawrence College
  • New York University
  • Johns Hopkins University
  • Harvard University
  • George Washington University
  • Pepperdine University
  • Stanford University

How much did students have to shell out for the 2008-09 school year at GWU?

  • $33,774
  • $34,473
  • $37,374
  • $40,437
  • $43,734

What fraction of college students receives financial aid?

  • one-quarter
  • one-third
  • two-thirds
  • three-quarters

What was the total average amount of financial aid received by students at four-year colleges in 2008-2009?

  • $2,725
  • $5,600
  • $10,185
  • $11,300

Most college students attend schools with tuitions that are less than _______.

  • $9,000
  • $15,000
  • $21,000

What percentage of bachelor's degree recipients in 2007-08 graduated with some kind of education debt?

  • 27
  • 42
  • 58
  • 66
  • 72
  • 85

Take a wild guess: What's the total amount of financial aid out there, waiting to be snapped up by eager students?

  • $986 million
  • $7 billion
  • $49 billion
  • $168 billion
  • $343 billion

The first thing you need to do in the search for financial aid is fill out this form.

  • FAFSA
  • TCMSA
  • DEDRA

What's the most sought-after form of financial aid?

  • grants
  • federal loans
  • need-based financial aid
  • education tax credits
  • tax deductions

What's the main federal grant program?

  • Pell
  • Landsman
  • Scott

What's the main factor in evaluating if you're eligible for a Pell Grant?

  • your SAT score
  • your financial need
  • your high school GPA
  • your volunteer work
  • your college grades

What are the two main types of federal loans available to college students?

  • Parton and Nicholas
  • Stafford and Perkins
  • Pell and Fairfield
  • Taylor and Winchester

In 2008, President Bush signed a bill that increased possible federal loan amounts by ______.

  • $1,000
  • $2,000
  • $3,000

If you qualify for a federal loan, the government will pay the interest while you're in school.

  • true
  • false

What's the maximum standard repayment period for a federal student loan?

  • three years
  • five years
  • 10 years
  • 12 years
  • 15 years

What's one of the main benefits of a 529 college savings plan?

  • You can withdraw the funds at any time and pay no taxes.
  • You can start saving as soon as your child turns 3.
  • You pay no taxes on the account's earnings.

You can use a 529 plan to prepay tuition at today's tuition rates.

  • true
  • false

In some states, your 529 account can grow up to $368,000.

  • true
  • false

How many hours per week do students usually work in a work-study program?

  • five to 10
  • 10 to 15
  • 15 to 20