Chapter 5 Dave Ramsey

The total estimated student loan debt is over:

• $10 Thousand
• $1 Trillion
• $7 Trillion
• $1 Billion

Which of the following is NOT a good option to pay for your education?

• Plan ahead
• Fill out the FAFSA
• Ask your parents to take out a loan
• Get a part-time job

Which of the following is NOT a good option to pay for your education?

• Plan ahead
• Fill out the FAFSA
• Ask your parents to take out a loan
• Get a part-time job

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
• Read books
• All of the above

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

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

The average repayment period for a student loan is:

• 15 years
• 5 years
• 20 years
• 10 years

The Fourth Foundation is:

• Pay cash for your car
• Build a $500 emergency fund
• Build wealth and give
• Pay cash for college

Percentage of college students that graduate with student loans

• 90%
• 66%
• 30%
• 25%

Which of the following is NOT one of the basics of budgeting?

• Pay yourself first by saving
• Stick to your budget unless something unexpected happens
• Make it a priority to give
• Live on less than you make