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Ball State FIN 101 Exam 3 (Olga) | Questions And Answers Latest {} A+ Graded | 100% Verified
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Ball State FIN 101 Exam 3 (Olga) | Questions And Answers Latest {} A+ Graded | 100% Verified
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Ball State FIN 101 Exam 3 (Olga) | Questions And Answers Latest {2024- 2025} A+ Graded| 100% Verified
Chapters 9 & 10 -
FAFSA - -Free Application for Federal Student Aid
-Main federal form used to qualify for financial aid
-Best way to start applications for college financial aid
The Aid Package - -Scholarships & Grants
-Student Loans
-Work-study
Types of Grants - -Pell Grant
-TEACH Grant
-Academic Competitiveness Grant
-Federal Supplemental Education Opportunity Grant
Pell Grants - -Largest & best known program of college aid
Stafford Loans;
Subsidized Loans - -Government pays interest while in school & for 6 months after graduation.
-Loan is need based and is determined by FAFSA form.
Stafford Loans;
Unsubsidized Loans - -A straight loan regardless of need.
-Interest payments can be accrued and rolled into the principle if the student wants.
, Federal Supplement Education Opportunity Grants - -Source of assistance that targets students in
extreme need
Perkins Loans - -Federal loan program that offers best interest rates
Plus Loans (PLUS) - -Federal loan program that lets parents borrow up to the total cost of college, minus
the aid the student receives.
Advantages of 529 Prepaid College Tuition Plans - -Lock in tuition rates years before needed
-May earn a state income tax deduction
-Change beneficiaries if student changes mind
-Out of state relatives can invest
Exchange Traded Funds (ETF) - -New type of security that looks like index mutual fund, but is traded like
a stock on open market.
Order of Investments
(Most risky - Least risky) - 1. Stocks (Most Risky)
2. Mutual Funds
3. Real Estate
4. Bonds
5. Annuities
6. Cash (Least Risky)
The suggested asset allocation for the investors ages are between 20 and 30 - -Stock: 80-90%
-Bonds: 0-5%
-Cash: 10-15%
Value Stocks - -Represent companies that investors believe the market has under priced.
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