Unit 4 Quiz - Student Loans

What is the definition of unemployment rate?

• The percentage of the labor force that's jobless and looking for work

• The percentage of the population that's jobless and looking for work

• The percentage of the population that's employed and looking for work

• The percentage of the labor force that's employed and looking for work

What does postsecondary education refer to?

• All education that takes place after high school

• All education that takes place during high school

• All education that takes place before high school

• All education that takes place after college

What is a bachelor's degree?

• A degree from a high school

• A degree from a trade school

• A graduate degree from a college or university

• An undergraduate degree from a college or university

How long does it typically take to complete an associate degree?

• Six months

• Two to three years

• Four to five years

• One year

What are private student loans?

• Loans made by colleges or universities with terms and conditions set by the institution

• Loans made by banks, credit unions, or other organizations with terms and conditions set by the lender

• Loans made by the government with terms and conditions set by law

• Loans made by family or friends with no terms or conditions

What are federal student loans?

• Loans made by family or friends with no terms or conditions

• Loans made by the government with terms and conditions set by law

• Loans made by colleges or universities with terms and conditions set by the institution

• Loans made by banks, credit unions, or other organizations with terms and conditions set by the lender

What are subsidized loans?

• Private student loans that are based on a student's financial need and don't accrue interest for a set period of time

• Federal student loans that are based on a student's financial need and don't accrue interest for a set period of time

• Federal student loans that aren't based on a student's financial need and start accruing interest immediately

• Private student loans that aren't based on a student's financial need and start accruing interest immediately

What does FAFSA stand for?

• Financial Assistance for Student Applications

• Free Application for Federal Student Aid

• Financial Aid and Scholarship Application

• Federal Aid for Student Assistance

What is work-study?

• A program that allows students to work after completing their studies

• A program that allows students to work during summer break only

• A program that allows students to work full time while continuing their studies

• A program that allows students to work part time while continuing their studies

What are unsubsidized loans?

• Federal student loans that aren't based on a student's financial need and start accruing interest immediately

• Private student loans that are based on a student's financial need and don't accrue interest for a set period of time

• Federal student loans that are based on a student's financial need and don't accrue interest for a set period of time

• Private student loans that aren't based on a student's financial need and start accruing interest immediately