Personal Finance - Paying for Higher Education

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

• True
• False

Tags

CCSS.RI.11-12.7

CCSS.RI.8.7

CCSS.RI.9-10.7

CCSS.RL.11-12.7

CCSS.RL.9-10.7

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

What does it mean when a student loan is "forgiven"?

• You get a letter of apology from the government
• You don't have to keep going to classes to get your degree
• You don't get as much money as your were previosuly promised
• You don't have to pay back the remainder of your loan debt

Tags

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

CCSS.RI.9-10.4

CCSS.RI.9-10.4

Private student loans have better interest rates than government student loans

• True
• False

Tags

CCSS.6.EE.B.8

A federal student loan is provided by...

• Private companies
• The state you live in
• US Federal government
• Investors

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

• True
• False

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

• Scholarhip
• Grant
• Student Loan
• College Savings

Which of the following statements is TRUE about the advantages of federal student loans compared to private student loans?

• Federal student loans generally offer higher interest rates which remain fixed over the term of the loan
• Federal student loans do not need to be repaid if the borrower runs into financial difficulty and goes bankrupt
• Federal student loans require a credit check
• Federal student loans offer more flexible repayment terms

A subsidized loan is when ____________________ pays the interest while you are in school, while an unsubsidized loan is when ___________________ pays the interest while you are in school.

• the government; parents
• the borrower; parents
• the borrower; the government
• the government; the borrower

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.8.3

CCSS.RI.9-10.3

CCSS.RI.9-10.5

Which federal loans are available for parents to take out for their children's education?

• Perkins Loans
• Direct PLUS Loans
• Subsidized Direct Loans
• Unsubsidized Direct Loans