Education and Earning Power

How does acquiring additional education or training affect one's earning potential according to the text?

• It leads to a decrease in earning potential

• It has no effect on earning potential

• It increases the potential for earning

• It reduces the necessity for further education

What is typically the duration of an undergraduate program?

• Less than a year

• Two years

• Four years

• More than four years

According to the text, a person with an undergraduate degree earns (a)   over a lifetime compared to someone with just a high school diploma.

• 30% more
• 50% more
• 84% more
• 350,000 dollars more

How much more can a high school graduate earn over a lifetime than a person without a high school diploma, as stated in the text? (a)  

• 30% more
• 84% more
• $350,000 more
• $500,000 more

By the year 2018, what percentage of jobs in America will require some sort of post-secondary education? (a)  

• 63%
• 50%
• 75%
• 80%

What percent of jobs will require only a high school education or less by the year 2018? (a)  

• 37%
• 50%
• 63%
• 80%

What is a vocational school?

• A school where students learn advanced scientific theories.

• A school where students are taught the skills needed to perform a particular job.

• A school that only offers online courses.

• A school that focuses exclusively on teaching languages.

What is generally advised regarding the amount to borrow in student loans?

• To borrow as much as possible to cover all expenses.

• To borrow more than your anticipated annual salary.

• To borrow less than your anticipated annual salary.

• To borrow exactly the amount of your anticipated annual salary.

What is tuition?

• The fee paid to receive a diploma.

• The fee paid to apply for college.

• The fee paid in order to receive instruction at a school.

• The fee for participating in extracurricular activities.

What is a grant?

• A loan that needs to be repaid with interest.

• Money awarded to a person from the government or school to help pay tuition that does not need to be repaid.

• A monthly allowance given to all students.

• A fee charged for using the library and other facilities.