WorksheetsCost of Education & Training Review
Total questions: 41
Worksheet time: 21mins
The __________ is considered a private university.
University of Notre Dame
University of North Carolina
University of Texas
University of Florida
Which of the following describes vocational or trade school?
Two-year school where a student can receive an associate degree
Four-year school where a student can receive a graduate degree
Short-term school, which focuses on specific topics
Long-term school, which focuses on specific topics
Select all of the following which are factors which play a role in academic reputation.
Financial resource
Graduation rates
Location
Student engagement
Which of the following is most likely an admissions requirement?
Test scores
Financial needs
Extracurricular and leadership activities
Student involvement
Select all of the following which are considerations a student should consider when choosing a postsecondary education path.
A school where their friends attend
A school which fits only their personal budget
A school which offers subjects within their career interests
A school with a good academic reputation
Damien plans to attend a public, two-year institution in his hometown while living at home. Which of the following will be the greatest cost he will incur while attending this school?
Tuition and fees
Room and board
Books and supplies
Transportation
__________ is a funding source in which students must repay the funding received.
Personal saving or income
Scholarships
Student grants
Which of the following represents the FAFSA acronym?
Funding Application for Federal Student Aid
Funding Application of Financial Student Aid
Free Assignment of Financial Student Aid
Free Application for Federal Student Aid
__________ allow students to combine multiple loans into one.
Direct subsidized loans
Direct unsubsidized loans
Direct consolidation loans
Direct PLUS loans
Students must possess financial need to obtain a federal work-study.
True
False
Select all of the following which are loan repayment considerations.
College grade point average
Interest rates
Loan consolidations
Repayment plans
__________ is used to help calculate interest.
Cost of attendance
Expected family contribution
Outstanding principal balance
Financial need
Which of the following is the best definition of interest rate factor?
The amount of money which has yet to be paid on a loan
The daily rate of interest on the loan
The percentage of the loan which is added to the amount the student borrows
The number of days since the student's last payment
How many years will a student have to repay their student loans before they choose to consolidate them into one “direct consolidation loan” and use the “revised pay as you earn repayment plan”?
15 to 20 years
20 to 25 years
25 to 30 years
30 to 35 years
Which of the following should be done if students cannot repay their loans?
Avoid paying their monthly bill
Change their repayment plan
Take out a loan to help pay their monthly bill
Avoid consolidating their loans
Which of the following best defines loan consolidation?
Multiple loans are combined with 10 percent of the principal forgiven
Multiple loans are combined with the principal increased by 10 percent
Multiple loans are combined into one loan with one monthly payment
Multiple loans are combined into one loan with daily payments
Which of the following postsecondary education options operates as an educational nonprofit organization who receives funding through tuition, donations and endowments?
Community colleges
Public universities
Private universities
Vocational and trade schools
Federal student loans do NOT require students to pay them back until after graduation.
True
False
Select all of the following which should be considered when choosing postsecondary education.
Academic reputation
Admission requirements
Personal budget
School mascot
Size of school
Select all of the following which are repayment plan options for student loans.
Graduated Repayment Plan
Income-Sensitive Repayment Plan
Loan Consolidation Repayment Plan
Standard Repayment Plan
After earning a bachelor's degree, how many additional years of education does a master’s degree require?
One to two years
Three to four years
Five to six years
Seven to eight years
Vocational and Trade Schools are short-term schools which tend to focus on specific topics or careers and help prepare students for the workplace by earning diplomas, certificates or licenses.
True
False
Which of the following refers to a set amount of money an institution feels a student’s family should be able to pay for their education?
Family assets and income
Expected family contribution
Family expenses and liabilities
Expected student contribution
Select the correct answer from the choices provided in the underlined section.
Federal Pell Grants are awarded to undergraduate students and do not have to be repaid, whereas
Indirect Unsubsidized Loans / Direct Subsidized Loans are awarded to undergrads and must be repaid.
Indirect Unsubsidized Loans
Direct Subsidized Loans
Select all of the following, which are classified as day-to-day or personal expenses students may have.
Car loan payments
Cell phone bills
Laundry
Tuition
Calculating interest includes the outstanding principal balance, the number of days since the last payment and the amount of interest previously paid.
True
False
Which of the following degree levels does a doctoral degree fall under?
Graduate degree
Undergraduate degree
Certification
License
Select the correct answer from the choices provided in the underlined section.
Student loan consolidations allow students to combine one / multiple student loan(s) to have one interest rate and one monthly payment.
one
multiple
Select all of the following on which financial aid eligibility depends.
Cost of attendance
Expected family contribution
Grade point average
Year of enrollment
Kelly has an outstanding principal balance of $12,000. It has been eight days since her last payment, and her interest rate factor is 3.89 percent. What is the total interest she must pay?
$18.28
$10.22
$21,321,34
$63.29
Which of the following is awarded only to undergraduate students and does NOT have to be repaid?
Federal Pell Grants
Supplemental Education Grants
Unsubsidized Loans
Family Federal Education Loans
Select all of the following plans a loan provider may advise a student to make when trying to repay a loan.
Asking parents for assistance
Changing the payment due date
Changing the repayment plan
Consolidating the loans
The loan forgiveness repayment plan is one of the available repayment plan options.
True
False
Schools considered to be educational nonprofit organizations, receiving the majority of their funding through tuition, donations and endowments
Private Universities
Vocational and Trade Schools
Community Colleges
Public Universities
Short-term schools which tend to focus on specific topics or careers
Private Universities
Vocational and Trade Schools
Community Colleges
Public Universities
Two-year colleges which award associate degrees and allow the students the option to transfer to a private or public university
Private Universities
Vocational and Trade Schools
Community College
Public Universities
Colleges or universities which are mainly funded by state government
Private Universities
Vocational and Trade Schools
Community College
Public Universities
Set the amount of money an institution feels a student’s family could contribute to their education
Expected Family Contributions
Student Grants
Free Application for Federal Student Aid
Cost of Attendance
Amount of money awarded to students based on certain financial need criteria
Expected Family Contribution
Student Grants
Free Application for Federal Student Aid
Cost of Attendance
Allows students to apply for financial aid from a variety of sources
Expected Family Contributions
Student Grants
Free Application for Federal Student Aid
Cost of Attendance
Amount of money a student will have to pay to attend the college or career school of their choice
Expected Family Contributions
Student Grants
Free Application for Federal Student Aid
Cost of Attendance
