Student Loan Forgiveness Quiz

Student Loan Forgiveness Quiz

Assessment

Interactive Video

Business

9th - 10th Grade

Hard

Created by

Jennifer Brown

FREE Resource

5 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the new deadline for requesting a loan consolidation under the Biden Administration's extension?

April 30th

May 15th

June 30th

July 15th

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is the extension of the loan consolidation deadline considered significant?

It reduces the interest rate on all student loans.

It allows borrowers to receive credit for all months earned toward forgiveness.

It eliminates the need for any future payments.

It provides a one-time cash bonus to borrowers.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How can borrowers pursuing Public Service Loan Forgiveness benefit from the extension?

By having their loans automatically forgiven.

By receiving a grant to pay off their loans.

By getting additional credit for qualifying employment months.

By receiving a lower interest rate on their loans.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What issue does the payment count adjustment aim to address?

The high cost of tuition fees.

The lack of available student loans.

Problems with how payments were being counted in income-driven repayment plans.

The need for more financial aid advisors.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What should borrowers do to take advantage of the payment count adjustment?

Check their eligibility and take action before the deadline.

Contact their local bank for assistance.

Apply for a new student loan.

Ignore the deadline and wait for automatic adjustments.