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WorksheetsStudent debt and financial aid quiz
Total questions: 15
Worksheet time: 23mins
What are some foreseeable issues/dilemmas with taking out multiple loans or taking out a substantial loan?
going into debt
buying a house
buying a car
building credit
What percentage of americans go into student debt in 2022
20%
11%
13.5%
45%
Why do you have to file the FAFSA every year?
So the college you attend doesn't remove you
So you can receive financial aid for college
So colleges will give you scholarships
So you’re protected by NSHSS
Who qualifies for a Direct Plus Loan?
Any undergraduate student
Teachers
Parents of a college student
High school students
Your friend has been accepted into her #1 choice for college. She’s so excited that she doesn’t bother looking at her financial aid package and wants to confirm her spot right away.
You should
Be supportive
Warn her
Throw a party
Urge her to go through it
What percentage of private student loans are in deferment?
20%
50%
72.4%
30%
True or False: Interest rates for cosigned private loans averaged over 10% in 2019.
True
False
Who is ultimately responsible for paying back a Parent PLUS loan?
You
Your parents
What makes you eligible for financial aid?
Being a convicted criminal
Proof that you are qualified to obtain college education
Having less income than everyone else
Being involved in extracurricular activities
The type of arrangements many parents and students make if the parent decides to take out a Parent PLUS Loan are
A the student will put it their name
They sign a contract
They agree to pay back their parents
Parents usually don't make an agreement
What if the financial aid given isn't enough to cover expenses?
Find another college where the aid will cover
Don't go to college
Show up on campus anyway
Apply for more scholarships
What is the average cost for in state tuition
$3,894
$15,243
$9,580
$20,000
When is the best time to borrow money in college
Freshman
Sophomore
Junior
Senior
What is the purpose of a private education loan?
To pay off student debt
To help pay for full education
To pay for private school
To help maintain scholarships
On average: how many student borrowers are in debt?
$1 million
$800,000
$43.2 million
$42,000
