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WorksheetsDR - Life After High School - Chapter 5
Total questions: 20
Worksheet time: 10mins
The total estimated student loan debt outstanding (unpaid) is over:
$1 trillion
$10 thousand
$7 trillion
$1 billion
Which of the following is not a good option when it comes to paying for your education?
Plan ahead
Fill out the FAFSA
Ask your parents to take out a loan
Get a part-time job
Which of the following are ways that you can invest in yourself?
Find a mentor
Surround yourself with people who have similar goals and ambitions as you
read books
all of the above
Which of the following statements is false?
Millions of people can't afford to make their student loan payment every month
Our culture accepts student loan debt as normal and sometime even refers to it as good debt.
Debt is owing anything to anyone for any reason
A student loan is an award
Which of the following statements about college financial aid is false?
Many businesses have scholarships for employees'children
grants are free money
The Free Application for Federal Student Aid (FAFSA) is the first step to receiving any kind of financial aid.
Scholarship are only for the highest academic achievers
You should visit your college's financial aid office if:
Your parents' financial situation has changed
You have any problems with the financial aid application process
a medical situation has come up
All of the above
Which of the following statements if false?
On-campus jobs may pay you directly or pay toward your tuition bill
Research shows that students who work up to 20 hours a week have the highest grade point averages
Research shows that working more than 20 hours a week may affect your grades negatively
Students rarely drop out of college due to financial trouble
Which of the following is not recommended when you are cash-flowing your college education?
Live on a zero-based budget
attend an out-of-state school
Work and save money over the summer months
Make sure you have an emergency fund
The average repayment period for a student loan is
15 years
5 years
20 years
10 years
Which of the following statements is false?
On-the-job training often combines a professional trainer, hands -on activities and formal classroom training.
Students who are looking to learn specific skills can look into free or low -cost certifications found online, at community colleges, or through government-funded programs.
An associateʹs degree is a two-year degree that can offer specialized training and a flexible schedule that allows you to work while you earn your degree.
All high-paying careers require a four-year college degree.
The Fourth Foundation is:
Pay cash for your car
Build wealth and give
Build a $500 emergency fund
Pay cash for college
Which of the following could be a negative consequence of taking out student loans?
Not having the freedom to be a stay-at-home parent because of student loan payments
Having to delay investing and saving for your future because of student loan payments
Not having flexibility in your career options because of student loan payments
All of the above
Percentage of college students that graduate with student loans:
90%
66%
30%
25%
A wise college plan does not include:
Creating a budget and starting to save now
shopping around for the most appropriate, low-cost academic option for your career choice
scoring well on the ACT or SAT
Finding the most expensive, prestigious college so that you can impress future employers
Which of the following is not one of the basics of budgeting?
Pay yourself first by saving
Stick to your budget unless something unexpected happens
Make it a priority to give
Live on less than you make
You'll only need to complete the FAFSA once during your college education.
True
False
A four-year degree is necessary regardless of which career you're entering.
True
False
A form of financial aid that does not need to be repaid; usually awarded on the basis of academic, athletic or other achievements
Grant
Scholarship
Loan
Gift
These may be free or low-cost; found online, at community college, or through government-funded programs
Associate's degree
certifications
Bachelor's Degree
Master's Degree
If you plan to attend a community college for your first two years, you'll want to work closely with your adviser to make sure that the classes you take will transfer to your four-year school of choice.
True
False
