3.
Financial Aid Offer #1 includes a "Family Financing Option"? Which statement best
describes this type of aid?
a.
b.
C.
d.
This option is gift aid and does not need to be repaid.
It is a reflection of options available to finance the remaining cost of attendance.
It is a loan available through the federal
government which requires a family
member to cosign.
It is a type of scholarship available to students who have another family membe
attending the university.

Question

30-04-2024
Business

Answered

3.
Financial Aid Offer #1 includes a "Family Financing Option"? Which statement best
describes this type of aid?
a.
b.
C.
d.
This option is gift aid and does not need to be repaid.
It is a reflection of options available to finance the remaining cost of attendance.
It is a loan available through the federal
government which requires a family
member to cosign.
It is a type of scholarship available to students who have another family membe
attending the university.

Answer :

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GinnyAnswer GinnyAnswer · Answer 1 · 2024-04-30T11:02:13-04:00

The best description for the "Family Financing Option" included in Financial Aid Offer #1 is: b. It is a reflection of options available to finance the remaining cost of attendance. Explanation: 1. The "Family Financing Option" typically refers to various methods families can use to cover the remaining expenses after financial aid, scholarships, and grants have been applied to the cost of attendance. 2. This option may include payment plans, federal parent loans, private education loans, or other financial strategies to bridge the gap between the total cost of attendance and the financial aid received. 3. It is designed to assist families in making college more affordable by offering different ways to manage and finance the student's education, considering the family's financial situation and resources. In summary, the "Family Financing Option" is about providing families with choices and tools to address the financial responsibilities associated with attending college beyond what is covered by scholarships and financial aid.