Question: 1. Financial literacy is a common conversation for first generation students. After meeting with a group of local high school honor students and their families,

1. Financial literacy is a common conversation for first generation students. After meeting with a group of local high school honor students and their families, you recognize that navigating the financial aid system goes beyond filling out a FAFSA. A major concern was paying for college and graduating with debt. In a discussion with the group about grants, scholarships and loans, they magnified their concerns about repayment.

To prepare for the next group of honor students and families you want to present a clear picture about grants, scholarships, and loans.

a. Describe each type of funding.

b. Explain the benefits and disadvantages of each kind of funding.

c. Highlight the responsibilities for repayment.

2. The financial aid department conducted a survey to help improve student services. In the survey, students were asked if they knew the difference between federal and private loans. The response was an overwhelming 'No'55% of the student population said 'No'. This was concerning to the staff, especially for graduating students.

a. Describe the difference between federal and private loan lenders.

b. Highlight the difference between federal and private loans.

c. Explain the benefits and disadvantages the different kinds of loan.

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