Personal Finance Chapter 5 (Dave Ramsey)
cash flow
Pay as you go.
Which of the following statements about college financial aid is false?
Scholarships are only for the highest academic achievers.
Which of the following is not one of the basics of budgeting?
Stick to your budget unless something unexpected happens
Which of the following statements is false?
Students rarely drop out of college due to financial trouble.
A four-year degree is necessary regardless of which career youʹre entering.
false
When shopping for the best education option, you should narrow down your choice of colleges to 10 schools or less.
false
You must go to a prestigious school in order for employers to recognize your talents and strengths.
false
You'll only need to complete the FAFSA once during your college education
false
the best colleges are always the most expensive
false
Usually a professional trainer serves as the course instructor and uses a combination of hands -on activities and formal classroom training
on- the- job training
The Fourth Foundation is:
pay cash for college
If you plan to attend a community college for your first two years, you'll want to work closely with your advisor to make sure that the classes you take will transfer to your four-year school of choice.
true
Our culture thinks student loan debt is normal and that it's an acceptable way to pay for college.
true
The academic and financial choices you make in the next few years will affect the next 40 years of your life.
true
The average millionaire reads one nonfiction book a month.
true
You must shop for the best price for your education in the same way you comparison shop for any large purchase.
true
The total estimated student loan debt outstanding (unpaid) is over:
$1 trillion
The average repayment period for a student loan is:
10 years
percentage of college students that graduate with student loans
66%
grant
A form of federal or state financial aid that does not need to be repaid; usually given to students who demonstrate financial need
scholarship
A form of financial aid that does not need to be repaid; usually awarded on the basis of academic, athletic or other achievements
Entrepreneur
A person that starts his or her own buisness
Which of the following statements is false?
A student loan is an award.
communty college
A two-year government-supported college that offers an associate's degree
Which of the following statements is false?
All high-paying careers require a four-year college degre
Trade School
Allows students to learn basic professional skills in two years or less; typically cut out many of the general courses required by traditional universities
Which of the following is not a good option when it comes to paying for your education?
Ask your parents to take out a loan
A form that is completed annually by current and prospective college students to determine their eligibility for financial aid
Fafsa
a wise college plan does not include
Finding the most expensive, prestigious college so that you can impress future employers
Certifications
These may be free or low-cost; found online, at community colleges, or through government-funded programs
work study
a program that allows students to work part time while continuing their studies
Which of the following are ways that you can invest in yourself?
all of the above
Which of the following could be a negative consequence of taking out student loans?
all of the above
You should visit your college's financial aid office if:
all of the above
Which of the following is not recommended when you are cash-flowing your college education?
attend an out of state school
