Question

general financial literacy
4501
match each term to its description. (drag and drop your answer to the appropriate box.)
financial assistance you do not have to repay
financial assistance you must repay
government program to help students get part time jobs to pay for educational expenses
used to determine eligibility for student financial aid
agreement in which student pays the university a percentage of their income, after graduation for a set amount of time, in exchange for the cost of their education
tax advantaged post - secondary education savings account
student loan pell grant 529 plans income share fafsa work study

Explanation:

To solve this matching problem, we analyze each description and match it with the correct term:

1. "Financial assistance you do not have to repay" → Pell Grant (grants are non - repayable financial aid).
2. "Financial assistance you must repay" → Student Loan (loans require repayment).
3. "Government program to help students get part - time jobs to pay for educational expenses" → Work Study (Federal Work - Study is a program that provides part - time jobs for students).
4. "Used to determine eligibility for student financial aid" → FAFSA (Free Application for Federal Student Aid is used to determine financial aid eligibility).
5. "Agreement in which student pays the university a percentage of their income, after graduation for a set amount of time, in exchange for the cost of their education" → Income Share (Income - Share Agreements involve paying a percentage of income after graduation).
6. "Tax - advantaged post - secondary education savings account" → 529 Plans (529 plans are tax - advantaged savings accounts for education).

Answer:

• "Financial assistance you do not have to repay" : Pell Grant
• "Financial assistance you must repay" : Student Loan
• "Government program to help students get part time jobs to pay for educational expenses" : Work Study
• "Used to determine eligibility for student financial aid" : FAFSA
• "Agreement in which student pays the university a percentage of their income, after graduation for a set amount of time, in exchange for the cost of their education" : Income Share
• "Tax advantaged post - secondary education savings account" : 529 Plans