Entrance Loan Counseling Quiz Review

First Name

Last Name

What is the current Federal Student Loan Interest Rate?

• .0653%

• 3.5%
• 6.53%

• .055%

What is the PLUS loan dependent on?

• Credit history
• Income level
• Enrollment status
• Academic performance

If you take a loan out your sophomore year, how many months of accrued interested will be added to your principal balance?

• 18
• 30
• 54
• 42

During your senior year of college, how much money in Federal Loans will you be offered?

• $5,500
• $7,500
• $10,500
• $12,500

What document explains your rights and responsibilities as a federal student loan borrower?

• Your Master Promissory Note
• Your billing statement
• Your financial aid offer

Which loan type provides interest subsidy, meaning Department of Education pays your interest while you're in school, during your grace period, and during deferment?

• Direct Subsidized
• Direct Unsubsidized
• None of the above
• Both Direct Subsidized and Unsubsidized

Who should you contact if you have trouble making payments once you leave school?

• Your school's financial aid office
• Your loan servicer
• Your parents
• None of the above

Who do you contact if you've already accepted more loan money than you need?

• Your school's financial aid office
• Your loan servicer
• Your parents