Cost of Education & Training Final Assessment

Which of the following best defines loan consolidation?

• Multiple loans are combined with 10 percent of the principal forgiven

• Multiple loans are combined with the principal increased by 10 percent

• Multiple loans are combined into one loan with one monthly payment

• Multiple loans are combined into one loan with daily payments

Which of the following postsecondary education options operates as an educational nonprofit organization who receives funding through tuition, donations and endowments?

• Community colleges

• Public universities

• Private universities

• Vocational and trade schools

Federal student loans do NOT require students to pay them back until after graduation.

• True

• False

Select all of the following which should be considered when choosing postsecondary education. (a)   (b)   (c)   (d)   ​

• Location
• Cost
• Programs Offered
• Reputation
• Weather conditions
• Social media presence
• Celebrity endorsements

Select all of the following which are repayment plan options for student loans.

• Graduated Repayment Plan

• Income-Sensitive Repayment Plan

• Loan Consolidation Repayment Plan

• Standard Repayment Plan

After earning a bachelor's degree, how many additional years of education does a master’s degree require?

• One to two years

• Three to four years

• Five to six years

• Seven to eight years

Vocational and Trade Schools are short-term schools which tend to focus on specific topics or careers and help prepare students for the workplace by earning diplomas, certificates or licenses.

• True

• False

Which of the following refers to a set amount of money an institution feels a student’s family should be able to pay for their education?

• Family assets and income

• Expected family contribution

• Family expenses and liabilities

• Expected student contribution

(a)   are awarded to undergraduate students and do not have to be repaid, whereas Indirect Unsubsidized Loans / Direct Subsidized Loans are awarded to undergrads and must be repaid.

• Federal Pell Grants
• Indirect Unsubsidized Loans

• Direct Subsidized Loans

• undergraduate students

Select all of the following, which are classified as day-to-day or personal expenses students may have.

• Car loan payments

• Cell phone bills

• Laundry

• Tuition

Tags

CCSS.7.EE.B.3

CCSS.7.EE.B.4

CCSS.7.NS.A.3

CCSS.7.RP.A.3