IXL | Paying for college | 6th grade math

Anita is using multiple methods to pay for college. Match each method to its description.

savings

scholarship

work-study

Description

Method

Money Anita plans to earn at her job in the college computer lab

Money given to Anita by her college because of her high test scores

Money Anita was given as gifts that she keeps in the bank

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question

Alvin is using multiple methods to pay for college. Match each method to its description.

student loan

grant

savings

Description

Method

Money Alvin has been keeping in the bank for his college education

Money given to Alvin by the government because of his family's financial need

Money Alvin borrows from a bank that he will need to repay after graduation

key idea

Grants are given by the government, schools, or non-profit organizations. They are typically based on financial need. They do not need to be paid back.

Savings are money that is already saved in a bank. Students might use their own savings or their family's savings to pay for college.

A student loan is money that is borrowed, often from the government. The money needs to be paid back, typically with interest.

solution

Look at the first description.

Money Alvin has been keeping in the bank for his college education

The money is already kept in a bank. So, this describes

savings.

Look at the second description.

Money given to Alvin by the government because of his family's financial need

The money is given and is based on financial need. So, this describes a

grant.

Look at the third description.

Money Alvin borrows from a bank that he will need to repay after graduation

The money is borrowed. So, this describes a student

loan.

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