Chapter 5 Study Guide

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 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

Which of the following statements is false?

• Millions of people can't afford to make their student loan payment every month.

• Our culture accepts student loan debt as normal and sometimes even refers to it as good debt.

• Debt is owning anything to anyone for any reason.

• A student loan is an award.

Tags

CCSS.RI.8.1

CCSS.RI.8.8

CCSS.RL.11-12.1

CCSS.RL.8.1

CCSS.RL.9-10.1

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.

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 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.

Tags

CCSS.RI.8.1

CCSS.RI.8.8

CCSS.RL.11-12.1

CCSS.RL.8.1

CCSS.RL.9-10.1

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

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.

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