NGPF Student Loans Flashcard

NGPF Student Loans Flashcard

Assessment

Flashcard

Other

12th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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9 questions

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1.

FLASHCARD QUESTION

Front

What are the different types of student loans?

Back

federal student loans, private student loans, and parent PLUS loans

2.

FLASHCARD QUESTION

Front

How are interest rates determined on student loans?

Back

Interest rates on student loans are determined by several factors, including the type of loan, the borrower's credit history, and the current market conditions.

3.

FLASHCARD QUESTION

Front

What are the repayment options for student loans?

Back

standard repayment, graduated repayment, income-driven repayment, and extended repayment

4.

FLASHCARD QUESTION

Front

How does taking out student loans impact your credit score?

Back

Taking out student loans can impact your credit score in both positive and negative ways.

5.

FLASHCARD QUESTION

Front

What happens if you default on your student loans?

Back

Defaulting on your student loans can have serious consequences, including damage to your credit score, wage garnishment, and legal action.

6.

FLASHCARD QUESTION

Front

Which type of student loan typically has a lower interest rate: federal or private?

Back

federal

7.

FLASHCARD QUESTION

Front

What is the difference between fixed and variable interest rates on student loans?

Back

Fixed interest rates remain the same, while variable interest rates can change.

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