Dave Ramsey Ch. 7 Test

Many high schoolers get so caught up in the idea of the college experience that they don't think critically about...

• Their high school GPA

• How their college choice will affect their financial future

• Their dream job

• What requirements they need to get into college

Student loans are a type of "good" debt.

• True

• False

Part of making a plan to _____ involves searching for scholarships, saving, and talking with your family about what kind of financial help you'll get.

• Pay cash for college

• live in a dorrm

• take out a student loan

• get good grades

You can fund your education by finding the right mix of _____, _____, and _____.

• cash; loans; grants

• grants; scholarships; work

• work; loans; cash

• scholarships; trust funds; federal aid

Ask yourself, "Do I need this _____ for my _____?" before you start applying to schools.

• Degree; career
• career; college

• loan; future

• grant; job

What's a better question to ask instead of, "Where do I want to go to college?"

• "What do I want to do for a career?'

• "How do I get into college?"

• "Where do I want to live?"

• "Do I want to go to college?'

It takes the average person _____ to pay off their student loan debt.

• 20 years
• 10 years

• 5 years

• 2 years

Private student loans typically have a higher interest rate than federal student loans.

• True

• False

Getting good grades and scoring well on college entrance exams give you a better chance of ________.

• Going to an out-of-state college

• Getting a scholarship

• Getting an interview

• Graduating early

Since federal funding is often awarded on a first-come, first-served basis, you'll be more likely to get financial help by filling out your FAFSA as soon as possible.

• True

• False