
Unit 1 Lesson 1 Knowledge Check
Authored by Jacob Cole
Social Studies
10th Grade
Used 9+ times

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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a type of financial aid?
Scholarships
Grants
Loans
Lottery tickets
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary characteristic of scholarships?
They must be repaid with interest
They are need-based
They are awarded based on academic achievements, talents, or other criteria
They are only available from private lenders
3.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
Grants are typically awarded based on:
Athletic abilities
Financial need
Academic achievements
Artistic talents
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main difference between scholarships and loans?
Scholarships are need-based, while loans are not.
Scholarships require repayment with interest, while loans do not.
Scholarships are awarded based on merit, while loans are not.
Scholarships do not require repayment, while loans do.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Work-study programs allow students to:
Take out loans to cover their educational expenses.
Work part-time while attending school to earn money.
Receive grants based on financial need.
Access scholarships for their artistic talents.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which repayment plan adjusts the monthly payments based on the borrower's income and family size?
Standard Repayment Plan
Extended Repayment Plan
Income-Driven Repayment Plan
Graduated Repayment Plan
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Borrowers should contact their loan servicers if they are struggling to make payments on their loans.
True
False
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