Student loan

Student loans automatically disappear after 10 years.

• True

• False

You can start repaying student loans while you’re still in school.

• True

• False

Which type of loan does not require a credit check?

• Private loan

• Personal loan

• Federal Direct Subsidized Loan

• All of the following are correct

What happens if you miss multiple payments on your student loan?

•  Loan goes into default

• Nothing

• The loan is forgiven automatically

  
  

Federal student loans always have lower interest rates than private loans.

• True

• False

You can apply for federal student loans at any time during the school year.

• True

• False

Federal student loans require you to complete the ________ application to determine eligibility.

What is the current grace period for federal student loans before repayment begins?

• 1 month

• 9 months

• 6 months

• Immediately

If you miss one loan payment, your loan immediately goes into default.

• True

• False

You can use federal student loans to pay for living expenses, like rent and groceries, while in college.

• True

• False