Federal Student Loans Explained Get2College

Federal Student Loans Explained Get2College

12th Grade

10 Qs

quiz-placeholder

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Federal Student Loans Explained Get2College

Federal Student Loans Explained Get2College

Assessment

Quiz

Education

12th Grade

Hard

Created by

Crystal McCullough

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the most important fact to know about student loans?

They do not need to be repaid.

They have to be repaid.

They are only available for graduate students.

They are interest-free.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How do federal loan interest rates compare to private loan interest rates?

Federal loan interest rates are often higher.

Federal loan interest rates are often lower.

Federal loan interest rates are the same as private loan rates.

Federal loan interest rates vary each year.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a characteristic of federal loan interest rates?

They increase every year.

They decrease every year.

They stay the same throughout the duration of the loan.

They are determined by the borrower's credit score.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of loan is for students who demonstrate financial need?

Direct unsubsidized loan

Direct subsidized loan

Private loan

Parent PLUS loan

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens to the interest on a direct subsidized loan while you are in school?

It accrues and must be paid monthly.

It does not accrue.

It is added to the principal amount.

It is paid by the school.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens to the interest on a direct unsubsidized loan while you are in school?

It does not accrue.

It is paid by the government.

It accrues.

It is waived.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Do student loans require a credit check or a cosigner?

Yes, always.

No, they do not require a credit check or a cosigner.

Only for private loans.

Only for loans over $10,000.

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