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10. True or False: Parent income and financial information are not required for most high school students on the FAFSA.False
True

11. True or False: It's best to wait until you know for sure where you will attend college before you apply for financial aid.False
True

12. True or False: The most preferable form of financial aid is student loans.False
True

13. True or False: Financial aid may be different depending on the college.False
True

14. True or False: The amount of Expected Family Contribution (EFC) changes depending on the cost of the college with less expensive colleges expecting your family to contribute more. True
False

15. Your friend, Terrell, wants to find scholarships to attend college. Which of these is good advice for you to give him?Scholarships are like loans and he'll have to repay them.
Because he's a junior in high school, it's too early for him to start looking for scholarships.
Give up because there are no scholarships for guys like him.
Ask his boss for a reference because his boss thinks he's a good worker.

16. You have a young child. Your mother, a Colorado resident, wants to give him a birthday gift. She always gets him a toy that he plays with for a few days and then it's broken or ignored. Why might you tell her to donate to his CollegeInvest 529 College Savings Plan?It tells your son that you are expecting him to go to college.
The money will grow tax-free when it's used for qualified higher education expenses.
All of the answers are correct.
It is never too early to start saving for college.
It only takes $15 to contribute to his savings plan so she can do that and buy him a fun toy like sidewalk chalk, bubbles, books, or crayons and still only spend $20.

17. Why is it usually better to use federal student loans rather than credit cards to pay for tuition and living expenses for college (choose two correct answers)?The interest is higher on student loans than credit cards.
The re-payment plans for credits cards are better.
Federal student loan payments can be deferred while you are in college.
Colleges will refund any left-over student loan money to me after I pay my bill to help with other expenses while I am in college.

18. Dropping out of college rather than completing may be financially dangerous because (choose two correct answers):I will still have to repay my student loans.
I probably won't earn as much money as if I had finished my degree or certificate.
I can actually earn more money over my lifetime if I drop out because I can work full-time and won't have to go to school.
I will still have to repay my grants.