Student Loans 19-24

What is the primary purpose of a student loan?

• a) To buy luxury items during college
  

• b) To fund education expenses
  

• c) To invest in the stock market
  

• d) To avoid getting a job
  

Which factor should be considered before taking a student loan?

• a) The interest rate and repayment terms
  

• b) The number of friends who also took loans
  

• c) The color of the bank's logo
  

• d) Whether the bank offers free pens
  

What happens if you do not repay your student loan?

• a) The loan gets automatically forgiven
  

• b) It affects your credit score negatively
  

• c) You receive extra money from the bank
  

• d) The bank forgets about it after a few years
  

What is the benefit of repaying student loans on time?

• a) It improves your credit score
  

• b) It increases your tax liability
  

• c) It prevents you from taking future loans
  

• d) It leads to higher loan interest rates
  

Which of the following is a good strategy for managing student loan debt?

• a) Paying only when forced by the bank
  

• b) Borrowing more than needed for personal expenses
  

• c) Making timely payments and avoiding unnecessary loans
  

• d) Ignoring loan payments and waiting for loan forgiveness