Math of Finance Pre-Unit 1 Knowledge Check 1

What path leads to the highest average future earning potential?

• College Degree

• High School Diploma

• GED

• Associate's DegreeMath

Which of the following is not a cost included in the sticker price of college?

• Tuition

• Travel Expenses

• Room & Board

• Books

• Campus Fees

Which of the following is NOT a way that families pay for college tuition?

• Savings & Income

• Grants & Scholarships

• Loans

• None of the above

Student loand debt is the second largest consumer debt. What is the largest?

• Credit Card Debt

• Car Loan Debt

• Mortgage Debt

• Tax Debt

People in which category are most likely to fail to repay their student loans?

• Graduates with an associate's degree

• Graduates with a high school diploma

• Graduates with a bachelor's degree

• Graduates with a certificate

• Those who do not complete their degree program

Who uses your completed FAFSA form for financial aid purposes?

• Colleges & Universities

• The Federal Government

• Local Scholarship Committees

• All of the Above

• Both A & B

Which of the following is NOT true about scholarships and grants?

• You do not have to pay back the money given

• Applying for them can be time consuming

• There may be a minimum GPA associated with the award

• The moeny can only be obtained through the federal government.

Which of the following is true about repayment of student loans?

• Federal loans carry fixed rates

• With some loans, the government pays the interest while you're still in school.

• You may not pay more than your monthly payment

• Both A & B

Students are graduating with less student deb than ever before.

• True

• False

The net price of college is the actual tuition after grants and scholarships.

• True

• False