WorksheetsS25TH - College and Careers
Total questions: 54
Worksheet time: 27mins
Name
Class
Date
1.
Which of these do you need before buying a house?
a)
Credit score of at least 760
b)
Credit score of at least 620
c)
Neither of these - credit scores don't matter when buying a house.
2.
Which of these do you need before renting an apartment?
a)
Credit score of at least 760
b)
Credit score of at least 620
c)
Neither of these - credit scores don't matter when buying a house.
3.
The income lost by going to college, instead of working is called :
a)
Opportunity Cost
b)
Tuition
c)
Room
d)
Board
e)
Books
4.
The cost of taking college classes is usually charged by credit hour, and is called:
a)
Opportunity Cost
b)
Tuition
c)
Room
d)
Board
e)
Books
5.
The cost of housing while going to college is called:
a)
Opportunity Cost
b)
Tuition
c)
Room
d)
Board
e)
Books
6.
The cost of food while going to college is called:
a)
Opportunity Cost
b)
Tuition
c)
Room
d)
Board
e)
Books
7.
The cost of materials you need for college is called:
a)
Opportunity Cost
b)
Tuition
c)
Room
d)
Board
e)
Books
8.
Which TWO of these do you add together to get the "Investment" that you will make if you go to college:
a)
Cost of attendance
b)
Opportunity cost
c)
Average lifetime earnings for graduates with your degree
d)
Average lifetime earnings for high school graduates
e)
The salary you will earn the first year aftere earning your college degree
9.
Which TWO of these do you subtract from each other to get the "Return" that you will make if you go to college:
a)
Cost of attendance
b)
Opportunity cost
c)
Average lifetime earnings for graduates with your degree
d)
Average lifetime earnings for high school graduates
e)
Student loan debt
10.
Tuition, Room, Board, and Books are all part of the:
a)
Cost of attendance
b)
Opportunity cost
c)
Average lifetime earnings for graduates with your degree
d)
Average lifetime earnings for high school graduates
e)
Student loan debt
11.
To calculate your "Return", start with ____ and subtract what you could have earned if you did not earn a college degree.
a)
Cost of attendance
b)
Opportunity cost
c)
Average lifetime earnings for graduates with your degree
d)
Average lifetime earnings for high school graduates
e)
Student loan debt
12.
When you graduate from college, your student loans should not be more than 100 % of your _______ .
a)
Cost of attendance
b)
Opportunity cost
c)
Average lifetime earnings for graduates with your degree
d)
Average lifetime earnings for high school graduates
e)
Starting salary that you will earn the first year after earning your college degree
13.
To calculate your "Return", start with Average lifetime earnings for graduates with your degree and subtract ____ .
a)
Cost of attendance
b)
Opportunity cost
c)
Average lifetime earnings for graduates with your degree
d)
Average lifetime earnings for high school graduates
e)
Student loan debt
14.
To calculate your ROI for going to college, you need to include all of these EXCEPT :
a)
Cost of attendance
b)
Opportunity cost
c)
Average lifetime earnings with the degree you will earn
d)
Average lifetime earnings of someone with only a high school degree
e)
Student loan debt
15.
Theoretically, you should include Room or Board in your ROI calculation:
a)
Only if your alternative to college is living at home for free
b)
Only if your alternative to college is paying for food and an apartment on your own
c)
Always include Room and Board in your ROI
d)
Never include Room and Board in your ROI
16.
Which of these statements about two-year colleges is true?
a)
If you start at a two-year college, your degree from the four year university won't even mention the two-year college.
b)
You can start at two-year college and then switch to a four-year universtiy.
c)
Two-year colleges can save you a lot of money
d)
All of these are true
17.
Your student loans when you graduate should be ____ of your starting salary, or less.
a)
100 %
b)
30 %
c)
15
d)
140
e)
25 %
18.
If you plan on getting a four-year degree, your student loans after your first year in college should be ____ of your starting salary, or less.
a)
100 %
b)
30 %
c)
15
d)
140
e)
25 %
19.
Your monthly rent should be ____ of your monthly net income, or less.
a)
100 %
b)
30 %
c)
15
d)
140
20.
Which of these is a true statement about credit hours in college:
a)
To graduate on time, you need to take 15 hours per semester
b)
If you take 15 credit hours per semester, each week you will spend 15 hours in the classroom
c)
Both of these are true
d)
Neither of these are true
21.
Which of these is the equation for ROI:
a)
(R - I / I) * 100 %
b)
(R + I / I) * 100 %
c)
(I - R/R) * 100 %
d)
(I + R/R) * 100 %
e)
None of these
22.
Which of these student loans don't accrue interest while you are in school:
a)
Parent PLUS
b)
Subsidized
c)
Unsubsidized
d)
Private
23.
Subsidized loans are available for:
a)
Students studying for their undergraduate degree (bachelor's degree)
b)
Students studying for their graduate degree (masters, doctorate)
c)
Both of these
d)
Neither of these
24.
Sam is deciding whether to get a Bachelor’s Degree from a public college, or start working full-time for $20 an hour. If they get their bachelor’s degree in four years, and don't work during college, their opportunity cost for going to college is:
a)
$160,000
b)
$80,000
c)
$180,000
d)
$1,000,000
25.
Sam decides to get a Bachelor’s Degree from a public college, to earn a degree that will allow her to earn $40,000 annual salary. If they don't work during college and get their bachelor’s degree in six years instead of four, what is the opportunity cost of taking two extra years to graduate?
a)
$100,000
b)
$80,000
c)
$180,000
d)
$1,000,000
26.
Americans owe more in student loans than which TWO of these:
a)
Home loans
b)
Car loans
c)
Credit card loans
d)
The national debt
27.
Which statement about the cost of education is true:
a)
It is rising twice as fast as the general inflation rate.
b)
It is rising half as fast as the general inflation rate.
c)
It is rising at the same rate as the general inflation rate.
d)
None of these. The cost of college is going down because online classes are cheaper.
28.
When is the Department of Education supposed to release the FAFSA?
a)
October 1
b)
November 1
c)
December 1
d)
None of these - the Department of Education doesn't have anything to do with FAFSA.
29.
FAFSA is used to decide eligibility for which of these?
a)
Student loans
b)
Grants
c)
Work Study
d)
All of these
30.
Which of these provide student aid?
a)
State government
b)
Federal government
c)
Colleges
d)
All of these
31.
Two Truths and a Lie. Which of these is the lie about the FAFSA Simplification Act?
a)
It shortened the application.
b)
It changed the EFC to the SAI.
c)
It made it harder to qualify for a Pell Grant.
32.
Which of these is the best source for borrowing money for college:
a)
Loans from the federal government
b)
Private student loans
c)
None of these - you should never borrow money for college.
33.
Which of these normally pay more than a job that only requires a high school diploma:
a)
Nurses
b)
Electricians
c)
Mechanics
d)
Medical or dental assitants
e)
All of these
34.
Which of these statements about the relationship between salaries and happiness are NOT true?
a)
The more you make the happier you are.
b)
Most people are happier if their salary is enough for them to afford a place to live and food to eat.
c)
Happiness increases as you earn more money, but that tops out at around $75K.
d)
All of these statements are true.
e)
None of these statements are true.
35.
Which of these statements about "golden handcuffs" is NOT true:
a)
It describes people who hate their jobs, even though the job pays them a high salary
b)
It describes people who are stuck in a high paying job that they don't like
c)
It describes people that think they need to keep earning a high salary because they bought an expensive car
d)
It describes people that think they need to keep earning a high salary because they bought an expensive house
e)
It describes people that earn low salaries because they are more motivated by doing the right thing than buy making a higher salary
36.
Which of these do the experts say matter more than the number on your paycheck:
a)
Your connections with your co-workers
b)
The connections between your job and your community
c)
Gratitude that people show for your work
d)
None of these
e)
All of these
37.
For most people, the biggest cost of going to college is:
a)
Tuition
b)
Room and Board
c)
Interst on Student Loans
d)
None of these
38.
Which of these should you consider when deciding whether to go to college:
a)
The out of pocket cost
b)
The opportunity cost
c)
Whether you are motivated enough to finish college with good grades
d)
All of these
39.
Which of these is NOT an advantage of going to work instead of going to college:
a)
You can start making money right away.
b)
You get real-life work skills
c)
It can help you discovery what you are passionate about
d)
Some jobs that don't require a college degree can end up in a dead-end career.
40.
If you take an extra two years to graduate, you will have higher:
a)
Cost of Attendance
b)
Opportunity Cost
c)
Both of these
d)
Neither of these
41.
Typically, parents should:
a)
prioritize investing for retirement over paying for their kids’ college
b)
prioritize paying for their kids’ college over investing for retirement
42.
Which is better:
a)
Private student loans
b)
Federal student loans
43.
What is the maximum amount of federal student loans that you can borrow as a freshman in college?
a)
$5,500
b)
$6,500
c)
$7,500
d)
$27,000
44.
What is the maximum amount of federal student loans that you can borrow as a sophomore in college?
a)
$5,500
b)
$6,500
c)
$7,500
d)
$27,000
45.
What is the maximum amount of federal student loans that you can borrow as a junior in college?
a)
$5,500
b)
$6,500
c)
$7,500
d)
$27,000
46.
What is the maximum amount of federal student loans that you can borrow as a senior in college?
a)
$5,500
b)
$6,500
c)
$7,500
d)
$27,000
47.
What is the total amount of federal student loans that you can borrow as a college undergraduate?
a)
$5,500
b)
$6,500
c)
$7,500
d)
$27,000
48.
A general rule of thumb for borrowing is that a college graduate should not take on more debt than ____ % of their anticipated starting salary for their expected career.
a)
25
b)
60
c)
75
d)
100
49.
The average total student loan debt-to-income ratio (DTI) for a new graduate is about ____ %.
a)
25
b)
60
c)
75
d)
100
50.
Spring break events are ______.
a)
a luxury
b)
a necessity
51.
As the age of students increases, the percentage of students who work:
a)
Goes up
b)
Goes Down
c)
Stays the same
52.
Full time students who work 20 or fewer hours:
a)
Get better grades
b)
Take more hours
c)
Get worse grades
d)
Take fewer hours
53.
Full time students who work more than 20 hours:
a)
Get better grades
b)
Take more hours
c)
Get worse grades
54.
Which of these is NOT a true statement about the Graduated Repayment Plan:
a)
You will pay more interest than under the standard plan
b)
In your first few years, your monthly payments will be more than under the standard plan
c)
In your first few years, your monthly payments will be less than under the standard plan
d)
You will be paying longer than under the standard plan
100 %
