Federal Student Loan Knowledge Worksheet

Which type of federal student loan does not accrue interest while you're in school?

• Unsubsidized Direct Loan

• Subsidized Direct Loan

• PLUS Loan

• Private Loan

What factor typically has the LEAST impact on interest rates for private student loans?

• A) Credit score

• B) Income

• C) Choice of major

• D) Loan repayment term

Which repayment plan adjusts monthly payments based on your income?

• Standard Repayment Plan

• Extended Repayment Plan

• Income-Driven Repayment Plan

• Graduated Repayment Plan

What is "loan origination"?

• The total amount of money borrowed

• The process of applying for and receiving a loan

• The fee charged for processing a new loan

• The date when loan repayment begins

What is the grace period for most federal student loans?

• 3 months after graduation

• 6 months after graduation

• 9 months after graduation

• 12 months after graduation

What ls a scholarship

• A scholarship is something you get awarded based on talent of any sort

• when you love college and homework

• When you donate money to a charity

• amount if money that's is given for college but you have to fill out a form

what's a grant

• When you don't want to go to college

• When you donate money to a charity

• amount of money that's is given for college but you have to fill out a form