Dave Ramsey Chapter 5 Life After High School

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The total estimated student loan debt outstanding (unpaid) is over:

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$1 trillion

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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

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Ask your parents to take out a loan

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Which of the following are ways that you can invest in yourself? Find a mentor, Surround yourself with people who have similar goals and ambitions as you, Read books

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All of the above

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Which of the following statements is false?
1. Millions of people can't afford to make their student loan payment every month.
2. Our culture accepts student loan debt as normal and sometimes even refers to it as good debt.
3. Debt is owing anything to anyone for any reason.
4. A student loan is an award.

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A student loan is an award.

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Which of the following statements about college financial aid is false? Many businesses have scholarships for employees' children. Grants are free money. The Free Application for Federal Student Aid (FAFSA) is the first step to receiving any kind of financial aid. Scholarships are only for the highest academic achievers.

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Scholarships are only for the highest academic achievers.

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You should visit your college's financial aid office if: Your parents' financial situation has changed, You have any problems with the financial aid application process, A medical situation has come up, All of the above

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All of the above

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Which of the following statements is false?
On-campus jobs may pay you directly or pay toward your tuition bill.
Research shows that students who work up to 20 hours a week have the highest grade point averages.
Research shows that working more than 20 hours a week may affect your grades negatively.
Students rarely drop out of college due to financial trouble.

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Students rarely drop out of college due to financial trouble.

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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.

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Attend an out-of-state school.

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The average repayment period for a student loan is:

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10 years

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Which of the following statements is false?
On-the-job training often combines a professional trainer, hands-on activities and formal classroom training.
Students who are looking to learn specific skills can look into free or low-cost certifications found online, at community colleges, or through government-funded programs.
An associate’s degree is a two-year degree that can offer specialized training and a flexible schedule that allows you to work while you earn your degree.
All high-paying careers require a four-year college degree.

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All high-paying careers require a four-year college degree.