Free Printable Federal Loans

Worksheets

Federal Loans

Total questions: 14

Worksheet time: 7mins

Name

Class

Date

For Unsubsidized and subsidized loans the largest percent of loan fees they may ask for is the same.

Partially true

False

Depends on the lender

True

Who decides whether or not you are eligible for a federal loan?

Federal Government

Department of Education

FLA(Federal Loan Association)

Department of Federal Loans

A Federal Loan is money from the government you get to keep free of charge.

True

False

Partially true

Depends on the situation

How many types of federal loans are their?

None of these options

You can pay back federal loans whenever you want as long as it meets the deadline.

False

Only after 10 years

Only after retirement

True

How much money in federal loans can I borrow as an Undergraduate?

$5,000-$10,000

$5,500-$12,000

$5,500-$15,000

$6,500-$20,000

Subsidized, Unsubsidized, Consolidation, and Plus loans are the types of federal loans that we went over?

True

Not sure

Partially true

False

What is a fixed payment?

A set amount of money that is paid regularly

A variable amount of money that is paid regularly

A random amount of money that is paid irregularly

A one-time payment that is paid at the end of a contract

The equation at which interest is calculated is A=PxRxT. True or false?

False

A=P+R-T

True

A=PxR/T

10.

What are consequences of failing to pay back your loans on time?

Damage to Credit Score

Wages getting Garnished

All of the above

Lose of tax refund and/or social security check

11.

All federal loans don't obligate you to get a credit check or have a cosigner?

True

Depends on the lender

Sometimes

False

12.

What is income-driven repayment?

A repayment plan that increases the monthly payment as the borrower's income decreases

A federal student loan repayment plan that adjusts the monthly payment based on the borrower's income and family size.

A plan that allows borrowers to make payments based on their credit score

A type of investment that generates a fixed return regardless of the borrower's income

13.

What are the types of Income-Driven Repayment?

Subsidized, Unsubsidized, Parent PLUS

Fixed, Variable, Hybrid

Standard, Graduated, Extended

IBR, PAYE, SAVE, ICR

14.

When is a loan Capitalized?

When the loan is forgiven

When the loan is refinanced

When the interest accrued on the loan is added to the principal balance.

When the loan is paid off early

100 %

Federal Loans

Total questions: 14

Worksheet time: 7mins

Similar Resources on Wayground