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Financial Literacy Club

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Money After High School · Lesson 8

College Costs and Scholarships

Part A. Vocabulary

Define each term in your own words.

Cost of attendance

Part B. Guided notes

Fill in each blank using the word bank.

Word bank: calculator · community · scholarship · scholarships · unlocks

  1. Net price = cost of attendance − grants − .
  2. Use every college's net price .
  3. The FAFSA is free and most aid.
  4. Never pay to get a .
  5. Dual credit and college can save a lot.

Part C. Check your understanding

Circle the best answer.

  1. A college's cost of attendance is $30,000. You're offered $12,000 in grants and $4,000 in scholarships.

    1. What's your net price?

    • A. $30,000
    • B. $18,000
    • C. $14,000
    • D. $16,000

  2. 2. Which type of aid must be repaid?

    • A. Pell Grants
    • B. Merit scholarships
    • C. Student loans
    • D. Need-based grants

  3. A website promises a guaranteed scholarship if you pay a $99 processing fee.

    3. What should you do?

    • A. Pay — it's guaranteed
    • B. Pay half
    • C. Avoid it — legitimate scholarships don't charge fees
    • D. Share it with friends

Part D. Apply it

Show your work.

  1. 1. Cost of attendance is $32,000. You receive $12,000 in grants and $5,000 in scholarships. What's the net price?

  2. 2. A website charges $99 and guarantees you'll win scholarships. Is that a red flag? Why?

Part E. Think about it

Answer in complete sentences.

  1. 1. What should matter more when choosing a college: net price or reputation? Why?

  2. 2. Why do you think many families never use net price calculators?

Exit ticket

Name

What's the difference between a grant and a loan?