What is student loan debt?

Managing Student Loan Debt Video Quiz

Quiz
•
Education
•
12th Grade
•
Hard
Mr. Fraga
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Student loan debt is the amount of money borrowed by a student to pay for their education.
Student loan debt is the amount of money saved by a student for their education.
Student loan debt is the amount of money given to a student as a scholarship.
Student loan debt is the amount of money earned by a student through part-time jobs.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are some common mistakes that lead to high student loan debt?
Borrowing more than necessary, not fully understanding the loan terms, not exploring scholarships and grants, not making payments on time, not considering future income and job prospects.
Not attending college, relying solely on loans for tuition, not budgeting and managing expenses, not seeking financial advice, not considering alternative education options
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How can you avoid accumulating excessive student loan debt?
To avoid accumulating excessive student loan debt, you can research affordable options, apply for scholarships, create a budget, minimize borrowing, consider alternative education paths, work part-time, stay informed about loan terms, and seek financial advice.
To avoid accumulating excessive student loan debt, you can rely solely on credit cards for your education expenses
To avoid accumulating excessive student loan debt, you can ignore the cost of education and borrow as much as you want
To avoid accumulating excessive student loan debt, you can postpone repayment indefinitely
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are some strategies for managing student loan debt effectively?
Create a budget, explore loan forgiveness programs, make extra payments, refinance, and seek financial counseling.
Avoid making any payments on the loan
Ignore the debt and hope it goes away
Take out more loans to pay off existing debt
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the consequences of defaulting on student loan payments?
Defaulting on student loan payments can result in a small fine.
Defaulting on student loan payments only affects your credit score.
Defaulting on student loan payments has no consequences.
Defaulting on student loan payments can result in damage to credit score, wage garnishment, legal action, and loss of eligibility for future financial aid or loan forgiveness programs.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are some options for loan forgiveness or repayment assistance?
Deferment and forbearance options
Loan rehabilitation
Public Service Loan Forgiveness (PSLF), Income-Driven Repayment Plans, Teacher Loan Forgiveness, and Loan Repayment Assistance Programs (LRAPs)
Loan consolidation
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How can you create a budget to manage your student loan debt?
Follow these steps to create a budget and manage your student loan debt.
3. Rely on credit cards to pay off your student loan debt.
2. Spend all your money on unnecessary expenses and ignore the need for a budget.
1. Ignore your student loan debt and hope it goes away on its own.
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