Everfi Financial Literacy- Module 5 - Higher Education - Final Quiz Questions and Answers
0 view 0 purchase
Course
Service Consultant ASE
Institution
Service Consultant ASE
Which of the following statements about federal student loans is TRUE?
A) The interest rate on your loan will be fixed over time.
B) The interest rates on federal loans and private loans are similar.
C) You can only get federal student loans if you demonstrate financial need.
D) You do not accu...
Everfi Financial Literacy- Module 5 -
Higher Education - Final Quiz Questions
and Answers
Which of the following statements about federal student loans is TRUE?
A) The interest rate on your loan will be fixed over time.
B) The interest rates on federal loans and private loans are similar.
C) You can only get federal student loans if you demonstrate financial need.
D) You do not accumulate interest on federal loans.
A) The interest rate on your loan will be fixed over time.
You are looking for ways to pay for your higher education costs. Which of the following options
will require you to pay back any money you receive?
A) Grants
B) 529 plans
C) Federal student loans
D) Scholarships
C) Federal student loans
Which answer best describes an unsubsidized federal loan?
A) You are only responsible for the cost of the loan.
, B) You are responsible for paying all the interest that accumulates on your loan.
C) The federal government will only cover the interest accumulated on the loan if you graduate
and earn a degree.
D) The federal government will cover the interest accumulated on the loan while you're in
school.
B) You are responsible for paying all the interest that accumulates on your loan.
Which type of loan requires that you pay the interest accumulated during college?
A) Subsidized federal loan
B) Unsubsidized federal loan
C) Pell Grant
D) University scholarship
B) Unsubsidized federal loan
Select the answer that best describes why the return on investment (ROI) for higher education is
high even though the cost of college is increasing.
A) You have the potential to earn more money in the future when you continue your education
past high school.
B) You have the potential to earn less money in the future when you continue your education
past college.
C) Higher education is not an investment but a debt.
D) Earning potential is not affected by education level.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller dennisgathiru. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.49. You're not tied to anything after your purchase.
