Best Value Colleges Quiz

How savvy are you when it comes to paying for college? Take our 5-minute quiz to find out!

The first step in applying for federal student aid is filling out the FAFSA (Free Application for Financial Student Aid). The FAFSA includes a long series of questions (about 100 of them), whose answers are analyzed by the federal government. How is your "Financial Need" calculated for federal student loans?
1. it is directly proportional to your (or your parents') income
2. your "estimated family contribution" is subtracted from the total "cost of attendance"
3. your "earning potential" is estimated based on the colleges you might attend
4. all federal aid recipients receive the same amount of money each year, as long as the FAFSA has been completed
True or False: College tuition rates increase at the same rate as the general inflation rate.
1. True
2. False
The Best Value Colleges for 2014 were selected based upon institutional data and student opinion surveys collected from the fall of 2012 through fall of 2003. Academics, costs, financial aid, percentage of graduating seniors who borrowed from any loan program, and the average dollar amount of debt at graduation were all factors that were considered. The #1 public institution was the North Carolina at Chapel Hill, and the #1 private institution was Williams College. What is the difference in cost (tuition + fees + room and board) between these two schools for an out-of-state entering freshman, based on the latest estimates?
1. about $19,500
2. about $15,000
3. about $7,700
4. about $4,800
How much federal aid was given to students (includes grants, loans, and work study programs)?
1. $150 billion
2. $100 billion
3. $75 billion
4. $50 billion
How much more do college graduates with a bachelor's degree earn compared to high school graduates without a college degree?
1. 30 percent
2. 40 percent
3. 50 percent
4. 80 percent
How many of the 150 schools on The Princeton Review and USA TODAY's "Best Value Colleges" list are tuition-free colleges?
1. 2
2. 5
3. 8
4. none
True or false: There are about twice as many not-for-profit, 4-year or above private colleges and universities in the U.S. as there are public colleges and universities
1. True
2. False
Which of the following is NOT given to students based on financial need?
1. subsidized Stafford Loan
2. PLUS Loan
3. Pell Grant
4. Perkins Loan
Which region of the U.S. tends to have more students attending public colleges?
1. the West Coast
2. New England
3. the upper Midwest
4. the South
How long is the "grace period" to begin repayment on Federal Stafford loans after graduation, leaving school, or falling below half-time enrollment status?
1. one month
2. three months
3. six months
4. one year

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