Personal Finance Dave Ramsey Chapter 7 College Planning

Front

You must go to a prestigious school in order for employers to recognize your talents and strengths.

Back

False

Front

Which of the following is NOT a good option when it comes to paying for your education? Plan ahead, Fill out the FAFSA, Ask your parents to take out a loan, Get a part-time job

Back

Ask your parents to take out a loan

Front

The academic and financial choices you make in the next few years will affect the next 40 years of your life.

Back

True

Front

You must shop for the best price for your education in the same way you comparison shop for any large purchase.

Back

True

Front

Which of the following could be a negative consequence of taking out student loans? Not having the freedom to be a stay-at-home parent because of student loan payments. Having to delay investing and saving for your future because of student loan payments. Not having flexibility in your career options because of student loan payments. All of the above.

Back

All of the above.

Front

The average repayment period for a student loan is:

Back

20 years

Front

The Fourth Foundation is: Pay cash for your car, Build wealth and give, Build a $500 emergency fund, Pay cash for college

Back

Pay cash for college

Front

Which of the following is NOT recommended when you are cash-flowing your college education? Live on a zero-based budget, Attend an out-of-state school, Work and save money over the summer months, Make sure you have an emergency fund

Back

Attend an out-of-state school

Front

A person that starts his or her own business

Back

Entreprenuer

Front

The total estimated student loan debt is over: $10 Thousand, $1 Trillion, $7 Trillion, $1 Billion

Back

$1 Trillion