Student Loans

Student Loans

Assessment

Quiz

Other

9th - 12th Grade

Medium

CCSS
RI.11-12.3, RI.11-12.5, RI.8.5

+2

Standards-aligned

Created by

Wendy Beuglas

Used 52+ times

FREE Resource

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25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In order to qualify for Federal student loans…
You must have financial need
You must file the FAFSA
You must complete a separate application for federal loans
You must take out a private loan

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

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

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

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.8.5

CCSS.RI.9-10.3

CCSS.RI.9-10.5

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

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

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

A rule of thumb is a broadly accurate guide or principle. Which statement below represents a rule of thumb for how much a student should borrow for their college education?
A student should borrow as much as a private lender will allow them to borrow.  
A student should borrow no more than 35% of their discretionary income upon graduation from college.
A student should borrow no more than they expect to make as a starting salary upon graduation from college.  
A student should borrow as much as they expect to earn 10 years after they graduate from college.  

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Your friend is talking about stuff she has read online about PRIVATE student loans. Which of the following statements she says is TRUE?
"You do not need a co-signer for taking out private student loans; you only need a co-signer for taking out federal loans."
"Private student loans are subsidized."
"All private student loan lenders offer forbearance and deferment options."
"Private student loan lenders may require you to make payments toward the loan while you are still in school."

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

To decrease your total student debt, it is a good idea to do which of the following?
Take out student loans that amount to more than you expect to earn in the first year after you graduate
Pay the interest on your loans while you are still in school
Borrow private loans first
Take an extra year to graduate (5 years total)

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