Question

Matt wants to attend a university in California and is waiting to hear back from schools where he has applied. He has filled out a FAFSA, which is a federal form that helps the government determine financial need for grant programs.
Matt’s family has limited savings. Also, he wants to avoid taking on a great deal of debt that will have to be paid once he is out of school. Which options would best suit his circumstances?
Which options would meet Matt’s needs? Check all that apply.
-getting a work-study job
-taking out a private loan
-applying for federal loans
-applying for federal grants
-working at an on-campus job
-participating in a national service program

Answer 1

Answer:

Getting a work-study job

Working at an on-campus job

Explanation:

The first option that will meet Matt's needs is to get a work-study job. A work-study job is like a financial aid program available in the universities to help students out of their financial needs. Work-study job is a part-time job that will enable Matt to work while studying at the University in California. It allows Matt to engage in a part-time job for some hours a week during his free time, like 20 hours a week while he studies in school and earns some money to subsidize the cost of his studies since Matt wants to avoid paying debt once he is out of school.

A work-study job is the best option for Matt's finance position because it will provide financial assistance for the cost of his education.

The other option for Matt is to work at an on-campus job. This is almost the same as a work-study job because it is a part-time job and carried out only in his free time. It is a part-time job done by students in the university while studying to help their financial needs. The only difference with the work-study job is that the job here will only be done on campus, unlike work-study job which can be done outside the campus. Here Matt will have to get a part-time job on campus and not outside the campus.

Answer 2

Answer:

• Applying For Federal Grants

• Having An On-Campus Job

• Getting Work-Study Job

Explanation:

Since Matt has already filled FAFSA, a form that helps the government determine the grants, his first choice could be federal grants. Federal government provides around  $150 billion per year in loans and grants for students who want to attend the California State University or private institution or UC. And, since grants are non-refundable, Matt won't feel any stress during or after his college days. What he needs to do is to provide complete details of his financial circumstances to get those grants.  

An on-campus job is probably the best option. It will help Matt to maintain a balance between academics and work while arranging funds. Also, there aren't additional transportation costs associated with them.

If on-campus job is not available, the other option is getting a work-study job. Work-study jobs are federal and state-funded ( sometimes), that help campus students with finances. While it won't cover all fees, you have to combine them with your scholarships, loans, or grants. But it can be quite beneficial for Matt, if he qualifies.

And, since he has already filled FAFSA, he is eligible for it. Just one thing that Matt has to ensure is whether or not his school offers work-study.