Student Loans Quiz

What should students and parents consider before taking out a student loan?

• The provider of the loan and the terms and conditions

• The interest rate and repayment options

• The amount of grants and scholarships available

• The cost of college and future budget

What is the purpose of Direct Subsidized Loans?

• To assist eligible undergraduate students with financial need

• To provide loans for graduate and professional students

• To consolidate multiple student loans into one

• To offer loans to parents of undergraduate students

What is the eligibility requirement for Direct Unsubsidized Loans?

• Financial need does not affect eligibility

• Demonstration of financial need is required

• Credit check is required

• Enrollment in a master's program is required

Which program provides forgivable loans for designated critical employment shortage professions in North Carolina?

• Forgivable Education Loans for Service (FELS)

• North Carolina Transforming Principal Preparation Program

• North Carolina Teaching Fellows Program

• NC Assist Loans

What should borrowers consider before taking out a private student loan?

• Interest rate, repayment options, and future salary

• The provider of the loan and the terms and conditions

• The amount of grants and scholarships available

• The eligibility requirements for federal loans

Remember if you take out a loan to pay for college

• its free money

• the money has to be paid back

• the government pays it back

• it will be forgiven

Which type of loans are less expensive?

• private loans

• federal student loans

In paying for college, loans should be

• used first to pay for school

• used as a last resort

• are always needed