FPF Chapter 7 Test

Many high schoolers get so caught up in the idea of the college experience that they don't think critically about . . .

• Their dream job

• Their high school GPA

• How their college choice will affect their financial future

Student loans are a type of "good" debt.

• True

• False

Part of making a plan to______ involves searching for scholarships, saving, and talking with your family about what kind of financial help you'll get.

• Pay cash for college

• Get good grades

• Live in a dorm

You can fund your education by finding the right mix of____, ____, and ____.

• Cash; loans; grants

• Grants; scholarships; work

• Scholarships; trust funds; federal aid

Ask yourself, "Do I need this____ for my____ ?" before you start applying to schools.

• Degree; career

• Grant; job

• Loan; future

What's a better question to ask instead of, "Where do I want to go to college?"

• "How do I get into college?"

• "Where do I want to live?"

• "What do I want to do for a career?"

It takes the average person ____ to pay off their student loan debt.

• 10 years

• 20 years

• 2 years

Private student loans typically have a higher interest rate than federal student loans.

• True

• False

Getting good grades and scoring well on college entrance exams give you a better chance of ____ .

• Getting an interview

• Getting a scholarship

• Going to an out-of-state college

Since federal funding is often awarded on a first-come, first-served basis, you'll be more likely to get financial help by filling out your FAFSA as soon as possible

• True

• False