College debt

College debt

​Students will be able to:

• Discuss what factors are important when considering whether or not to attend college.

• Analyze hypothetical and personal scenarios involving college and career decisions that impact their ability to pay for college

Multiple Choice

All of the following degrees typically take at least 3 years to complete EXCEPT

• Master's Degree
• Bachelor's Degree
• Associate's Degree
• Doctorate Degree

Multiple Choice

What’s the first thing you should do about your student loans?

• Get organized

• Flee the country and change your name.

Defaulting on a loan

If your federal loans go into default – defined by the government as failing to make a payment for 270 or 330 days depending on your loan program -- the Debt Collection Improvement Act of 1996 allows the Department of Education to garnish up to 15% of your pay. If retired and receiving Social Security, the government can garnish up to 15% of those payments, too – but if you’re disabled and receiving Supplemental Security Income (SSI), those payments cannot be taken. The IRS also has the ability to take any tax refund you are owed and apply it to your outstanding balance.

Multiple Choice

If you DON’T pay back your federal loans, the government can:

• a. Seize your tax refund

• b. Garnish your wages

• c. Put you in jail

• Both A and B

Multiple Choice

Student loans are .....

• like free money

• ore often forgiven

• must be paid back

• only need to be paid back if you have a job

Multiple Choice

You must begin paying back a student loan ...

• when you are ready to do so

• only when you find a job

• soon after you graduate

• none of the above

Multiple Choice

Those with a college degree, on average, earn thousands of more dollars/year when compared to those with just a HS dipolma

• True
• False

Multiple Choice

This is the form you must fill out before going to college in order to get aid from the government to pay for college

• FAFSA
• FASAF
• FASFA
• AFSAF

Multiple Choice

This is money you can get to pay for college, which has to be paid back.

• Scholarhip
• Grant
• Student Loan
• College Savings

Multiple Choice

A majority of students receive student loans/aid to help pay for college

• True
• False