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Chapter 7 Test—Multiple Choice

Total questions: 32

Worksheet time: 21mins

Name
Class
Date
1.

Many high schoolers get so caught up in the idea of the college experience that they don't think critically about . . .

a)

Their high school GPA

b)

How their college choice will affect their financial future

c)

Their dream job

d)

What requirements they need to get into college

2.

Student loans are a type of "good" debt.

a)

True

b)

False

3.

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.

a)

Pay cash for college

b)

Live in a dorm

c)

Take out a student loan

d)

Get good grades

4.

You can fund your education by finding the right mix of ______, ______, and ______.

a)

Cash; loans; grants

b)

Grants; scholarships; work

c)

Work; loans; cash

d)

Scholarships; trust funds; federal aid

5.

Ask yourself, "Do I need this ______ for my ______?" before you start applying to schools.

a)

Loan; future

b)

Grant; job

c)

Degree; career

d)

Career; college

6.

What's a better question to ask instead of, "Where do I want to go to college?"

a)

"What do I want to do for a career?"

b)

"How do I get into college?"

c)

"Where do I want to live?"

d)

"Do I want to go to college?"

7.

. It takes the average person ______ to pay off their student loan debt.

a)

20 years

b)

10 years

c)

5 years

d)

2 years

8.

Private student loans typically have a higher interest rate than federal student loans.

a)

True

b)

False

9.

Getting good grades and scoring well on college entrance exams give you a better chance of ________.

a)

Going to an out-of-state college

b)

Getting a scholarship

c)

Getting an interview

d)

Graduating early

10.

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.

a)

True

b)

False

11.

A two-year degree with specialized training, a flexible schedule, and lower educational costs is called a(n) ________.

a)

Community college degree

b)

Associate degree

c)

Bachelor's degree

d)

Graduate degree

12.

Many service industries, including massage therapy, financial services, auto repair, electrical work, and plumbing, don't require four-year degrees.

a)

True

b)

False

13.

The first thing you need to do to get intentional about your future is...

a)

Dream of the possibilities

b)

Consider the cost of education

c)

Build your resumé

d)

Determine your college ROI

14.

The average college student in America graduates with ______ in student loan debt.

a)

$20,000

b)

$10,000

c)

$5,000

d)

$35,000

15.

You should figure out what you're passionate about before going to school for a specific field of work.

a)

True

b)

False

16.

FAFSA is the federal application required to . . .

a)

Receive financial aid

b)

Get a part-time job your first semester

c)

Do a work-study program

d)

Get into college

17.

To stay extra focused on your debt-free degree goal, you will need to avoid . . .

a)

The FAFSA

b)

A college degree

c)

All types of financial aid

d)

Student loans

18.

You can save thousands of dollars by spending the first ______ at a(n) ________.

a)

Two years; name-brand school

b)

Part of your tuition; traditional four-year school

c)

Two years; local community college

d)

Year; out-of-state school

19.

In-state college tuition is almost always a cheaper option than out-of-state college tuition.

a)

True

b)

False

20.

Dropping out of college means you don't have to pay your student loans.

a)

True

b)

False

21.

When applying for scholarships, you should consider both ______ and ______.

a)

Friends; teachers

b)

Tuition; school

c)

Range; intensity

d)

Speed; accuracy

22.

Scholarships are a great way to fund your education because you don't have to . . .

a)

Pay them back

b)

Be a student

c)

Apply for them

d)

Write an essay

23.

Most employers care more that you're educated in your field than they care about . . .

a)

If you're good at your job

b)

Your work ethic

c)

Your future career plans

d)

What college you went to

24.

______ 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.

a)

On-the-job training

b)

Online courses

c)

Military training

d)

Trade and vocational schools

25.

Certificate programs, boot camps, and accelerated programs are typically more ______ than other educational programs.

a)

Expensive

b)

Time consuming

c)

Challenging

d)

Flexible

26.

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 ________.

a)

The debt snowball

b)

Higher income

c)

Interest rates

d)

Monthly payments

27.

What is The Fourth Foundation?

a)

Pay cash for college

b)

Pay cash for your car

c)

Save a $500 emergency fund

d)

Build wealth and give

28.

It's okay to not understand all the specifics of your financial aid before accepting the money.

a)

True

b)

False

29.

Your college degree will only cost you the tuition, nothing more.

a)

True

b)

False

30.

To decide if you're passionate about something, consider . . .

a)

Going to school for it

b)

Enlisting in the military

c)

Volunteering in that field first

d)

Getting certified in it

31.

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?

4 lines
32.

SHORT ANSWER — Use what you've learned in this chapter to answer these questions. What are three ways to lower the cost of college?

4 lines