Finance Chapter 7 Test

In order to qualify for student aid, a student and his or her parent(s) must complete the ____ every year the student is in college.

• FASFA

• FAFSA

• I have no clue

• GED

A(n) _____ is also referred to as a four-year college degree or an undergraduate degree.

• Bachelor's Degree

• Assosiate's Degree

• Intermediate Degree

A(n) ____ is financial aid that's based on a student's financial need and doesn't need to be paid back.

• Scholarship

• Loan

• Grant

• Work Study

On average across the country, the _____ is lower for those with a college degree.

• Federal Student Loan

• Unemployment Rate

• Rate of Increase

A great alternative to a four-year college—and one that could save you a bunch of money—would be to go _____

• Community College

• Nowhere

• The answer is not here

• Click to pass Finance class

If you receive financial aid that's based on your achievements, that's called:

• An award

• A Grant

• A Scholarship

• Work-Study

Student loans you take out to pay for college are almost impossible to . . .

• Pay off

• Bankrupt

• Enjoy

• Sign up for

What is the total amount of student loan debt in the US?

• 1.6 trillion

• 1.8 trillion

• 3.5 billion

• 1.7 trillion

What percent of college students end up dropping out?

• 40%

• 37%

• 20%

• 88%

People with Bachelor's degrees typically earn ____ throughout their career

• More

• Less

• None