Personal Finance Ch 5 (life after high school) post test

If you plan to attend a community college for your first two years, you’ll want to work closely with your advisor to make sure that the classes you take will transfer to your four-year school of choice.

• true

• false

A form that is completed annually by current and prospective college students to determine their eligibility for financial aid

• FOS

• FAFSA

These may be free or low-cost; found online, at community colleges, or through government-funded programs

• Associate's degree

• certifications

Usually a professional trainer serves as the course instructor and uses a combination of hands -on activities and formal classroom training

• associate's degree

• on-the-job training

Our culture thinks student loan debt is normal and that it’s an acceptable way to pay for college.

• true

• false

Which of the following is not recommended when you are cash-flowing your college education?

• Attend an out-of-state school.

• Live on a zero-based budget.

• Work and save money over the summer months.

• Make sure you have an emergency fund.

A wise college plan does not include:

• Creating a budget and starting to save now

• Finding the most expensive, prestigious college so that you can impress future employers

• Shopping around for the most appropriate, low-cost academic option for your career choice

• Scoring well on the ACT or SAT

Which of the following statements is false?

• On-campus jobs may pay you directly or pay toward your tuition bill.

• Students rarely drop out of college due to financial trouble.

• 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.

You must shop for the best price for your education in the same way you comparison shop for any large purchase.

• true

• false

A form of federal or state financial aid that does not need to be repaid; usually given to students who demonstrate financial need

• grant

• scholarship