Unit 3 Key points EPF:




  1. What options can you pursue after high school?  After high school, you can attend four-year colleges and universities, community colleges, trade or technical schools, apprenticeships, enter the workforce, military service or take a gap year. 

  2. If you choose to attend a college, what options do you have for financing your education? Scholarships and grants (do not need to be repaid), work-study program, federal student loans (offered through FAFSA), private student loans (from banks or other lenders), family contributions or personal savings. 

  3. What is the difference between sticker price and net price for college?  Sticker price is the total published cost of attending college, including tuition, room, board, and fees. Net price is the actual cost after subtracting scholarships, grants, and other financial aid. This is what is paid out-of-pocket or with loans. 

  4. What are the different types of loans available to you? 

Direct subsidized loans: Interest is covered by the government while you are in school but it must be paid back. 

Direct unsubsidized loans: Interest accrued while in school. Eligibility is determined by your cost of attendance minus other financial acid. 

Private loans: Offered by banks and other lenders, often with fewer repayment options and higher interest rates. 

  1. What is the difference between indirect and direct costs of education? Direct costs are expenses billed directly by the school, such as tuition, fees, room and board. Indirect costs on the other hand are other expenses that aren’t billed by the school but are necessary for attending the college (supplies, books, transportation, personal expenses). 

  2. If you choose to take out federal loans, what are your options for repayment?  

Standard repayment plan: Fixed payments over 10 years. 

Extended repayment plan: Fixed or graduated payments over 25 years. 

  1. What does your Student Aid Index measure on your FAFSA?  The SAI measures a family’s ability to contribute to a students college education. It is used to determine your eligibility for need-based financial aid. 

  2. What are the differences between hard and soft skills? Hard skills are specific, teachable skills (computer programming, data analysis, foreign languages, etc..) and soft skills are interpersonal skills such as communication, adaptability, compassion and leadership.

What are the differences between a resume and a cover letter?  A resume is a document summarizing education, skills, work experience, and achievements and is typically 1-2 pages. A cover letter is a personalized letter sent with a resume to explain why an applicant is a good fit for the job and where they highlight specific experiences and skills that relate to the position they are applying for.