Student Loans Quiz

What did Jonah and Taylor complete to determine their financial aid eligibility?

• SAT exam

• FAFSA process

• College application

• Scholarship essay

What is the role of the U.S. Department of Education in consolidation loans?

• To provide grants

• To combine federal student loans into one

• To offer private loans

• To reduce tuition fees

What is a benefit of federal student loans for part-time students?

• Immediate repayment required

• No repayment until leaving college

• Higher interest rates

• Limited loan amounts

Which type of student loan has no pre-payment penalty fee?

• Federal student loans

• Private student loans

• Both federal and private student loans

• Neither federal nor private student loans

What is a tip offered by the U.S. Department of Education for financing education?

• Ignore how much you borrow

• Only use private loans

• Think about how loans affect future finances

• Always pay the minimum amount

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.8.5

CCSS.RI.9-10.3

CCSS.RI.9-10.5

What is the benefit of making good grades in college?

• Qualifying for scholarships

• Getting a job immediately

• Avoiding loans

• Reducing tuition fees

Tags

CCSS.RI.8.1

CCSS.RI.8.8

CCSS.RL.11-12.1

CCSS.RL.8.1

CCSS.RL.9-10.1

What is the final note about Jonah and Ross's decision?

• They should use more credit cards

• They are making a better decision than Taylor

• They should avoid student loans

• They should not pay their loans

Tags

CCSS.RL.6.3

CCSS.RL.7.3

CCSS.RL.8.3

CCSS.RL.9-10.3

CCSS.RL.11-12.9

What should Jenna do if she finds the interest rate increase was not communicated properly?

• Ignore the statement

• Contact the credit card company for clarification

• Pay the increased amount without question

• Close her account immediately

Tags

CCSS.RL.6.3

CCSS.RL.7.3

CCSS.RL.8.3

CCSS.RL.9-10.3

CCSS.RL.11-12.3

Which act requires lenders to inform borrowers about the cost of borrowing, including finance charges and APR?

• Fair Credit Billing Act (1975)

• Truth in Lending Act (1969)

• Consumer Leasing Act (1976)

• Electronic Fund Transfer Act (1976)

Which act ensures individuals have an equal opportunity to receive credit without discrimination?

• Consumer Leasing Act (1976)

• Fair Credit Reporting Act (1971)

• Equal Credit Opportunity Act (1975)

• Electronic Fund Transfer Act (1976)