1. Unit One: Getting Ready For College

2. VI. STUDENT LOANS, GRANTS, & SCHOLARSHIPS

3. 1. Financial aid primarily comes from all of the following, except…
a.) federal government b.) state government c.) colleges/universities & other private lenders d.) the student’s friends and/or family members

4. 2. What is the difference between a grant and a loan?
You don’t have to pay a grant back. Loans must be paid back, and in some cases, with interest

5. 3. What is the difference between a fixed-interest rate and a variable-interest rate?
a fixed-interest rate does not change over time; a variable-interest rate may change. It usually starts out lower than a fixed-interest rate to attract customers

6. 4. What is the difference between a subsidized and an unsubsidized Stafford Loan?
The student does not have to pay on the subsidized loan while he/she is in school and shortly thereafter. The student must start paying right away on an unsubsidized loan.

7. 5. What is a ‘Work Study Program’?
The college/university will find a part-time job (on or near campus) for the student and that money can be used to offset tuition, room/board

8. 6. What are 2 reasons why you should be weary of private scholarship websites?
a.) it might be a scam; gov’t. scholarships offer more $ b.) it might be a scam; you might have to pay a fee to join this website c.) gov’t. scholarships offer more $; you might have to pay a fee to join this website

9. VII. SHARK TANK

10. 1. An entrepreneur is a ___ -taker who creates a new ____, or expands on an ______ one.
risk
g/s
existing

11. 2. Why are both the shark investors and the contestants considered entrepreneurs?
The sharks are taking a risk by investing in these g/s ideas that may or may not be successful; the contestants are taking a risk by giving up their previous careers to try and launch a new business.

12. 3. What does it mean when a contestant is asking for $500,000
3. What does it mean when a contestant is asking for $500, for 10%
They are asking the sharks for an investment of $500, and in return, they will give up 10% equity in their company

13. 4. Identify one g/s idea from Shark Tank that you would invest in if you were a shark and explain why?
Booty fitness apparel Portable wine glasses Rescue signal Electric skateboard Fresh pet food delivered Chewable coffee cubes