WorksheetsChapter 7 Test—Multiple Choice
Total questions: 32
Worksheet time: 21mins
Many high schoolers get so caught up in the idea of the college experience that they don't think critically about . . .
Their high school GPA
How their college choice will affect their financial future
Their dream job
What requirements they need to get into college
Student loans are a type of "good" debt.
True
False
Part of making a plan to ______ involves searching for scholarships, saving, and talking with your family about what kind of financial help you'll get.
Pay cash for college
Live in a dorm
Take out a student loan
Get good grades
You can fund your education by finding the right mix of ______, ______, and ______.
Cash; loans; grants
Grants; scholarships; work
Work; loans; cash
Scholarships; trust funds; federal aid
Ask yourself, "Do I need this ______ for my ______?" before you start applying to schools.
Loan; future
Grant; job
Degree; career
Career; college
What's a better question to ask instead of, "Where do I want to go to college?"
"What do I want to do for a career?"
"How do I get into college?"
"Where do I want to live?"
"Do I want to go to college?"
. It takes the average person ______ to pay off their student loan debt.
20 years
10 years
5 years
2 years
Private student loans typically have a higher interest rate than federal student loans.
True
False
Getting good grades and scoring well on college entrance exams give you a better chance of ________.
Going to an out-of-state college
Getting a scholarship
Getting an interview
Graduating early
Since federal funding is often awarded on a first-come, first-served basis, you'll be more likely to get financial help by filling out your FAFSA as soon as possible.
True
False
A two-year degree with specialized training, a flexible schedule, and lower educational costs is called a(n) ________.
Community college degree
Associate degree
Bachelor's degree
Graduate degree
Many service industries, including massage therapy, financial services, auto repair, electrical work, and plumbing, don't require four-year degrees.
True
False
The first thing you need to do to get intentional about your future is...
Dream of the possibilities
Consider the cost of education
Build your resumé
Determine your college ROI
The average college student in America graduates with ______ in student loan debt.
$20,000
$10,000
$5,000
$35,000
You should figure out what you're passionate about before going to school for a specific field of work.
True
False
FAFSA is the federal application required to . . .
Receive financial aid
Get a part-time job your first semester
Do a work-study program
Get into college
To stay extra focused on your debt-free degree goal, you will need to avoid . . .
The FAFSA
A college degree
All types of financial aid
Student loans
You can save thousands of dollars by spending the first ______ at a(n) ________.
Two years; name-brand school
Part of your tuition; traditional four-year school
Two years; local community college
Year; out-of-state school
In-state college tuition is almost always a cheaper option than out-of-state college tuition.
True
False
Dropping out of college means you don't have to pay your student loans.
True
False
When applying for scholarships, you should consider both ______ and ______.
Friends; teachers
Tuition; school
Range; intensity
Speed; accuracy
Scholarships are a great way to fund your education because you don't have to . . .
Pay them back
Be a student
Apply for them
Write an essay
Most employers care more that you're educated in your field than they care about . . .
If you're good at your job
Your work ethic
Your future career plans
What college you went to
______ typically take(s) less than two years to complete, teach(es) you the skills you need for that career, and is/are often tied to that region's employment needs.
On-the-job training
Online courses
Military training
Trade and vocational schools
Certificate programs, boot camps, and accelerated programs are typically more ______ than other educational programs.
Expensive
Time consuming
Challenging
Flexible
Most students don't consider that they'll end up paying far more than the original amount they borrowed on their student loans because of ________.
The debt snowball
Higher income
Interest rates
Monthly payments
What is The Fourth Foundation?
Pay cash for college
Pay cash for your car
Save a $500 emergency fund
Build wealth and give
It's okay to not understand all the specifics of your financial aid before accepting the money.
True
False
Your college degree will only cost you the tuition, nothing more.
True
False
To decide if you're passionate about something, consider . . .
Going to school for it
Enlisting in the military
Volunteering in that field first
Getting certified in it
SHORT ANSWER — Use what you've learned in this chapter to answer these questions. How do student loans hold you back from investing in your future?
SHORT ANSWER — Use what you've learned in this chapter to answer these questions. What are three ways to lower the cost of college?
