Assessment Student Loans PDF

ASSESSMENT Student Loans and Debt Name____________________ Per.____ Date:____________ Select the best answer: 1. The amount of student debt the average 5. Because of student debt, more and more graduate has is people are forgoing (postponing) a. $3,500 a. buying a car. b. $10,000 b. buying house....

ASSESSMENT Student Loans and Debt Name____________________ Per.____ Date:____________ Select the best answer: 1. The amount of student debt the average 5. Because of student debt, more and more graduate has is people are forgoing (postponing) a. $3,500 a. buying a car. b. $10,000 b. buying house. c. $20,000 c. starting a family. d. $37,500 d. All of the above. 2. Student loans 6. Borrowing money to obtain a certificate, a. are like free money. skill, or degree, b. are often forgiven. a. is always a bad idea. c. must be payback and are almost b. can be a good idea when properly never forgiven. evaluated as an investment. d. only need to be payback if you have a c. should be driven by emotion. job. d. None of the above. 3. If you don’t payback a student loan, the government a. can garnish your paycheck. b. will not care. c. will eventually forgive you. d. None of the above. 4. You must begin paying back a student loan a. when you are ready to do so. b. soon after you graduate. c. only when you find a job. d. None of the above. 7. When borrowing money, the main goal for obtaining an education should be to a. have fun. b. experience college life. c. improve your future by being able to obtain a good paying job. d. None of the above. 8. State and community colleges a. are bad investments and should be avoided. b. are more expensive compared to private schools. c. are much cheaper than private schools. d. None of the above. ©Career and Life Skills Lessons, All Rights Reserved. 9. State and community colleges are a. good bargains and provide a good education. b. are not good bargains and provide a poor education. c. are only for students that had bad grades in high school. d. None of the above. 10. When hiring employees, employers are mostly concerned about a. what college you went to. b. the type of certificate or degree you obtained, your skills, and your grades. c. if you are a male or female. d. All of the above. True or False 11. __________ More and more students are taking out student loans because career schools and colleges have become more expensive. 12.__________ Student loans are not taken very seriously by the government and are almost always forgiven. 13. __________ One in four people that have student debt are delinquent or in default on their loans. 14.__________ A student loan shouldn’t be thought of as an investment tool but instead as money to fulfill a person’s wants and desires. 15.__________ The Federal Student Aid website provides important financial aid forms and information about student loans, grants, and scholarships. ©Career and Life Skills Lessons, All Rights Reserved. Student loan Default Financial Aid Garnish Delinquent Grants and scholarships Select from the above list of terms. 16.__________________To take part of someone’s paycheck because they own money for a student loan. 17.__________________ When you fail to payback a student loan. 18.__________________ When a person is late making a payment on a student loan. 19.__________________ Considered “free money” to be used to pay for some or all of their college. The money doesn’t need to be paid back. 20.__________________ Is money that is loaned to a student in order to pay for college or a career school. 21.__________________ Different types or forms of aid to help a student pay for college. It can be loans, grants, or scholarships. 22. Before taking on student debt, there are several things a person should think about in order to make sure they are making a wise investment with the money. What are three things you think are important to consider before borrowing money for school? 1) 2) 3) ©Career and Life Skills Lessons, All Rights Reserved.