1
True or False? Federal student loans do not require students to pay them back until after graduation.
True
After earning a bachelor's degree, how many additional years of education does a master’s degree require?
A. One to two years
B. Three to four years
C. Five to six years
D. Seven to eight years
A. 1-2 years
True or False? 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
True or false. The loan forgiveness repayment plan is one of the available repayment plan options.
False
What does FAFSA stand for?
Free Application for Federal Student Aid
True or False. All schools have the same criteria for admissions.
False
What is academic reputation?
A. Perceived excellence of a school
B. Financial Aid
C. Research Capabilities
A. Perceived excellence of a school. Overall beliefs and opinions about a school based on various attributes.
- research capability
- teaching quality
- financial resources
-student engagement
- graduation rates
Postsecondary education costs include:
A. tuition and fees
B. books and supplies
C. Transportation ad personal expenses
D. All of the above
D. All of the above
What is post-secondary education?
Education after/past high school
What is the difference between a loan and a grant?
A loan has to be paid back, a grant does not.
Which of the following is awarded only to undergraduate students and does NOT have to be repaid?
A. Federal Pell Grants
B. Supplemental Education Grants
C. Unsubsidized Loans
D. Family Federal Education Loans
A. Federal Pell Grants
Select all of the following plans a loan provider may advise a student to make when trying to repay a loan. (3)
Asking parents for assistance
Changing the payment due date
Changing the repayment plan
Consolidating the loans
Changing the payment due date
Changing the repayment plan
Consolidating the loans
True or false. Calculating interest includes the outstanding principal balance, the number of days since the last payment and the amount of interest previously paid.
False
Interest= principal x rate x days/365
Which of the following best defines loan consolidation?
A. Multiple loans are combined with 10 percent of the principal forgiven
B. Multiple loans are combined with the principal increased by 10 percent
C. Multiple loans are combined into one loan with one monthly payment
D. Multiple loans are combined into one loan with daily payments
C. Multiple loans are combined into one loan with one monthly payment
Which of the following postsecondary education options operates as an educational nonprofit organization who receives funding through tuition, donations and endowments?
A. Community colleges
B. Public universities
C. Private universities
D. Vocational and trade schools
C. Private Universities
Which of the following degree levels does a doctoral degree fall under?
A. Graduate degree
B. Undergraduate degree
C. Certification
D. License
Graduate degree
Select the correct answer from the choices provided in italics.
Student loan consolidations allow students to combine one / multiple student loan(s) to have one interest rate and one monthly payment.
multiple loan(s)
Select the correct answer from the choices provided in italics.
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.
Direct Subsidized Loans
Select all of the following, which are classified as day-to-day or personal expenses students may have. (3)
Car loan payments
Cell phone bills
Laundry
Tuition
Car loan payments
Cell phone bills
Laundry
Select all of the following on which financial aid eligibility depends. (3)
Cost of attendance
Expected family contribution
Grade point average
Year of enrollment
Cost of attendance
Expected family contribution
Year of enrollment
Select all of the following which should be considered when choosing postsecondary education. (4 answers)
Academic reputation
Admission requirements
Personal budget
School mascot
Size of school
Academic reputation
Admission requirements
Personal budget
Size of school
Select all of the following which are repayment plan options for student loans. (3)
Graduated Repayment Plan
Income-Sensitive Repayment Plan
Loan Consolidation Repayment Plan
Standard Repayment Plan
Graduated Repayment Plan
Income-Sensitive Repayment Plan
Standard Repayment Plan
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?
A. Family assets and income
B. Expected family contribution
C. Family expenses and liabilities
D. Expected student contribution
B. Expected family contribution
Match the terms to definitions.
1. Schools considered to be educational nonprofit organizations, receiving the majority of their funding through tuition, donations and endowments
2. Short-term schools which tend to focus on specific topics or careers
3 Two-year colleges which award associate degrees and allow the students the option to transfer to a private or public university
4.Colleges or universities which are mainly funded by state government
Terms:
Community Colleges
Private Universities
Public Universities
Vocational and Trade schools
1. Private Universities
2. Vocational and trade schools
3. Community colleges
4. Public Universities
Match the term to their descriptions:
1. Set the amount of money an institution feels a student’s family could contribute to their education
2. Amount of money awarded to students based on certain financial need criteria
3. Allows students to apply for financial aid from a variety of sources
4. Amount of money a student will have to pay to attend the college or career school of their choice
Terms:
Cost of Attendance
Expected Family Contribution
Free Application for Federal Student Aid
Student Grants
1. Expected Family contribution
2. Student Grants
3. Free Application for Federal Student Aid
4. Cost of Attendance