Student loan repayment

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

what are ways to avoid paying or minimizing your student loan debt?

• obtain Scholarships/ Financial Aid
   join debt relief government programs make timely payments on loan/ get a public service job, government or non profit.
• buy food and forget about it
• make more late payments
• take out another loan to pay off that loan

What should you do if you can't afford your student loan payments?

• Apply for another loan

• Apply for an income based repayment plan

• Apply to another school

• Just don't pay it

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

Which of the following statements is TRUE?

• the longer the term, the more total interest you pay

• the longer the term, the quicker you will pay off your loan

• the longer the term, the lower the total cost of your loan will be

• the longer the term, the more damaged your credit score will be

Susie is considering a graduated repayment plan, which means ________

• Her monthly payments will start lower and end higher.

• She won't be charged any interest until she successfully graduates.

• Her payments will fluctuate with how much money she's earning every month.

• She will receive loan credits based on how high her GPA is when she graduates.

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

Public service loan forgiveness is good for any job you want to have.

• True

• False

Tags

CCSS.RI.8.2

CCSS.RL.11-12.2

CCSS.RL.7.1

CCSS.RL.8.1

CCSS.RL.9-10.2

Income based repayment can be combined with public service loan forgiveness.

• True

• False

It is possible to have payments that are $0 and still count towards repayment.

• True

• False

If you make income based repayments for 20 years and still owe money, the rest of your debt is forgiven.

• True

• False

Death, disability and bankruptcy are bad ways to cancel your student debt because..

• They are all pretty bad personal outcomes for you.

• Your family has to pay off your loan if you die.

Tags

CCSS.RI.8.1

CCSS.RI.8.8

CCSS.RL.11-12.1

CCSS.RL.8.1

CCSS.RL.9-10.1