Dave Ramsey- Chapter 5 Test

Front

What is a trade school?

Back

A trade school is an educational institution that allows students to learn basic professional skills in two years or less, typically cutting out many of the general courses required by traditional universities.

Front

What is the total estimated student loan debt in the United States?

Back

The total estimated student loan debt is over $1 Trillion.

Front

What is a work study program?

Back

A work study program allows students to work part-time while continuing their studies.

Front

What percentage of college students graduate with student loans?

Back

66% of college students graduate with student loans.

Front

What is a grant in the context of financial aid?

Back

A grant is a form of federal or state financial aid that does not need to be repaid, usually given to students who demonstrate financial need.

Front

What are the benefits of attending a trade school?

Back

Benefits of attending a trade school include shorter duration of study, lower costs compared to traditional universities, and direct preparation for specific careers.

Front

What is the difference between a loan and a grant?

Back

A loan must be repaid with interest, while a grant does not need to be repaid.

Front

What is the purpose of financial aid?

Back

The purpose of financial aid is to help students cover the costs of their education, including tuition, fees, and living expenses.

Front

What are common types of financial aid available to students?

Back

Common types of financial aid include grants, scholarships, loans, and work-study programs.

Front

What is the impact of student loan debt on graduates?

Back

Student loan debt can impact graduates by limiting their financial freedom, affecting their ability to buy homes, and influencing career choices.