Student Loans

Your guidance counsellor and college/university fairs at your school provides important financial aid forms and information about student loans, grants, and scholarships.

• True

• False

To take part of someone’s paycheck because they own money for a student loan.

• garnish

• steal

• default

• scholarship

When a person is late making a payment towards to their student loan

• garnish

• delinquent

• default

• forgetful

When you fail to payback a student loan.

• garnish

• delinquent

• default

• grant

Loans are...

• Free Money

• Borrowed Money

• Earned Money

• Not given through FAFSA

Direct Subsidized Loan

• A student loan that the federal government pays interest on as long as the student is in school at least half-time

• A method of debt financing that enables individuals to borrow and lend money without the use of a financial institution as an intermediary

• A line of credit extended to a homeowner that uses the borrower's home as collateral

• Original amount of money borrowed, separate from interest or fees

A federal student loan is provided by...

• Private companies

• The state you live in

• US Federal government

• Investors

What is the term for the interest rate that remains constant throughout the life of a student loan?

• Variable rate

• Fixed rate

• Adjustable rate

• Floating rate

Which type of student loan does not accrue interest while the student is in school at least half-time?

• Direct Unsubsidized Loan

• Direct PLUS Loan

• Direct Subsidized Loan

• Private Loan

What is the grace period typically offered after graduation before student loan repayment begins?

• 3 months

• 6 months

• 9 months

• 12 months