PF: Chapter 7 Review

What is the main focus of The Fourth Foundation?

• Dropping out of college

• Taking out student loans

• Delaying life goals

• Paying cash for college

Why are student loans often considered 'good debt'?

• They are based on financial need

• They are easy to repay

• They have low interest rates

• They help build credit score

What percentage of college graduates have student loan debt?

• 100%

• 25%

• 49%

• 75%

What is the average amount of student loan debt for college graduates in America?

• $35,000

• $100,000

• $50,000

• $10,000

What is the main disadvantage of unsubsidized student loans?

• They have high interest rates

• They require financial need

• They have deferred interest

• They are difficult to obtain

What is one way to cut down on college costs?

• Take CLEP exams

• Choose a college based on its ranking

• Attend a small high school

• Take AP and IB classes in high school

What are Advanced Placement (AP) and International Baccalaureate (IB) classes?

• Tests to earn college credits

• College-level courses offered in high schools

• Dual enrollment classes

• Classes to test out of certain subjects

What should you consider when choosing a college?

• All of the above

• Location and tuition

• Class size and school culture

• College ranking lists

What is the purpose of a net price calculator?

• To compare schools based on completion rate

• To estimate future earnings

• To calculate the true cost of attending a college

• To determine the sticker price of a college

What is the first step in the search for financial aid?

• Working part-time

• Researching grants

• Applying for scholarships

• Completing the FAFSA