Student Finances and Loans Quiz

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Questions and Answers

  1. What does the information above show?

  • The information above shows the consequences of defaulting on a student loan.
  • The information above shows the average student loan debt of graduates. (correct)
  • The information above shows the opinions of students about their finances.
  • The information above shows the benefits of attending a less expensive college.

  1. How do most students feel about their finances?

  • Most students feel overwhelmed by their finances. (correct)
  • Most students feel confident about their finances.
  • Most students feel indifferent about their finances.
  • Most students feel optimistic about their finances.

  1. What do a majority of graduates feel about less expensive colleges?

  • A majority of graduates feel that less expensive colleges have limited resources.
  • A majority of graduates feel that less expensive colleges offer more financial aid. (correct)
  • A majority of graduates feel that less expensive colleges are not worth attending.
  • A majority of graduates feel that less expensive colleges provide better education.

  1. What does the bar graph show?

<p>The average amount of debt a student has after graduating college (A)</p> Signup and view all the answers

  1. In 1993, what was the average amount of debt a student had after graduating college?

<p>$10,000 (B)</p> Signup and view all the answers

  1. In 2018, what was the average amount of debt a student had after graduating college?

<p>$25,000 (C)</p> Signup and view all the answers

According to the Federal Reserve, how many Americans have student loan debt?

<p>1 in 4 Americans (D)</p> Signup and view all the answers

What is the average monthly payment for student loans?

<p>$393 (C)</p> Signup and view all the answers

By 2023, what percentage of borrowers are expected to default on their student loans?

<p>40 percent (B)</p> Signup and view all the answers

What is the average amount of student debt that the average graduate has?

<p>$20,000 (A)</p> Signup and view all the answers

What is one consequence of student debt?

<p>All of the above (D)</p> Signup and view all the answers

What is the government's response if you don't pay back a student loan?

<p>Can garnish your paycheck (A)</p> Signup and view all the answers

When must you begin paying back a student loan?

<p>Soon after you graduate (B)</p> Signup and view all the answers

What should be the main goal for obtaining an education when borrowing money?

<p>Improve your future by being able to obtain a good paying job (C)</p> Signup and view all the answers

Are state and community colleges a good investment?

<p>Are much cheaper than private schools (C)</p> Signup and view all the answers

What are employers mostly concerned about when hiring employees?

<p>Skills and qualifications (A)</p> Signup and view all the answers

Which of the following is a factor that contributes to the increasing number of students taking out student loans?

<p>Higher interest rates on student loans (B)</p> Signup and view all the answers

How does the government generally view student loans?

<p>They are considered a top priority and must be repaid in full (D)</p> Signup and view all the answers

What percentage of people with student debt are delinquent or in default on their loans?

<p>25% (D)</p> Signup and view all the answers

How should a student loan be thought of?

<p>A way to fulfill wants and desires (B)</p> Signup and view all the answers

What does the Federal Student Aid website provide?

<p>Important financial aid forms and information about student loans, grants, and scholarships (A)</p> Signup and view all the answers

What is garnishment in relation to student loans?

<p>A way to take part of someone's paycheck to repay a student loan (B)</p> Signup and view all the answers

What does it mean to be delinquent on a student loan?

<p>To fail to pay back a student loan (A)</p> Signup and view all the answers

What are grants and scholarships?

<p>Money that doesn't need to be paid back (D)</p> Signup and view all the answers

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Student Loan Debt PDF
Assessment Student Loans PDF

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