QUIZ: Ch. 3.3 - 3.5 (Math for Finance)

Match the following

• Expected Family Contribution

• A form where the loan applicant must supply personal & financial data that will assist in the loan decision making process.

• FAFSA

• Describes the situation when no payment is required on a loan.

• Accrues

• Describes the situation when interest builds up or adds to the principal amount.

• Defer

• This is sent to the family after the FAFSA is processed, includes info. about which student loans are available.

• Student Aid Report

• The amount of tuition that's anticipated to be covered based on financial info. submitted to a loan agency.

Tags

CCSS.HSA.SSE.B.4

Match the following

• Federal Perkins Loan

• A type of loan that the federal government funds and makes available for students.

• Federal Direct Unsubsidized Loan

• A type of loan that's available for students with exceptional financial need and offers extremely low interest rates. This loan has expired as of September of 2017.

• Federal Loan

• A student loan that is not need-based, which students are expected to pay interest that accrues from the time the loan is received.

• Private Loan

• A need-based student loan, which borrowers can defer interest payments for a period of time. Any interest accumulated is paid for by the Dept. of Education.

• Federal Direct Subsidized Loan

• A type of loan issued by a bank, a credit union, or state agency.

Tags

CCSS.HSA.REI.A.1

Definition: Interest Capitalization is...

• The process of adding unpaid interest to the principal balance of a loan or investment.

• The process of transferring interest from one loan or investment to another.

• The process of calculating interest on a loan or investment.

• The process of deducting unpaid interest from the principal balance of a loan or investment.

Tags

CCSS.7.RP.A.3

[Ch. 3.3 Notes, Question #1] According to your notes, what percent of students borrow money to cover the costs of higher-education?

• 15% - 25%

• 30% - 40%

• 45% - 55%

• 60% - 70%

Tags

CCSS.7.RP.A.2C

[Ch. 3.3 Notes, Question #3] According to your notes, what is the average student loan debt, in dollars, for the year 2025?

• $17,600

• $28,350

• $39,075

• $46,400

Tags

CCSS.HSS.IC.A.1

CCSS.HSS.IC.B.4

[Ch. 3.3 Notes, Question #9] According to your notes, when we looked up the prices to attend FSCJ and UNF, what was the cost per credit hour (In-State) to attend FSCJ?

• $99 / credit hour

• $120 / credit hour

• $159 / credit hour

• $170 / credit hour

Tags

CCSS.HSF-LE.A.1B

[Ch. 3.3 Notes, Question #9] According to your notes, when we looked up the prices to attend FSCJ and UNF, what was the cost per credit hour (In-State) to attend UNF?

• $199 / credit hour

• $228 / credit hour

• $261 / credit hour

• $299 / credit hour

Tags

CCSS.HSA.SSE.B.4

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSA.CED.A.3

CCSS.HSA.REI.A.1

CCSS.HSA.REI.B.3

CCSS.HSN.Q.A.1

If you take out a loan to attend college and you just earned your 4-year degree, what "grace period" do you have (in months) before you're REQUIRED to start making monthly payments on your loan? Remember, this is in reference to after you graduate and earn your bachelor's degree.

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSA.CED.A.3

CCSS.HSA.REI.A.1

CCSS.HSA.REI.B.3

CCSS.HSA.CED.A.4