personal finance chap 7
The first and biggest decision you'll have to make about going to college the right way financially is to ____
take debt off the table
What will students who drop out of college have to do with their student loans? A. Pay them off B. Forget them C. Bankrupt them D. Forgive them
A
When it comes to picking a college, look for one that is . . . A. Affordable B. A big name C. Out of state D. Well known
A
Student loans you take out to pay for college are almost impossible to . . . A. Enjoy B. Bankrupt C. Sign up for D. Pay off
B
If you receive financial aid that's based on your achievements, that's called: A. A grant B. Work-study C. A scholarship D. An award
C
On average, how many years does it take someone to pay back student loan debt? A. 5 years B. 10 years C. 15 years D. 20 years
D
Someone who wants to be a hygienist or electrician should go to . . . A. A university B. The military C. The internet D. A trade school
D
In order to qualify for student aid, a student and his or her parent(s) must complete the ____ every year the student is in college.
FAFSA
A(n) _____ is also referred to as a four-year college degree or an undergraduate degree.
bachelor's degree
_____ typically have lower interest rates than those offered by private lenders.
federal student loans
A(n) ____ is financial aid that's based on a student's financial need and doesn't need to be paid back.
grant
The student loan crisis in our country is too serious to ignore because, right now, the total student loan debt is _____
over $1.6 trillion
Any formal education after you graduate from high school is referred to as ____ .
postsecondary education
When it comes to financial aid, you definitely want to avoid any and all loans, but you can accept _____
scholarships, loans and work studies
A great alternative to a four-year college—and one that could save you a bunch of money—would be to go _____
to a community college
On average across the country, the _____ is lower for those with a college degree.
unemployment rate