What is a key step to take when you first receive financial aid?

Understanding Student Loans and Repayment

Interactive Video
•
Business, Life Skills, Education
•
10th Grade - University
•
Medium

Mia Campbell
Used 13+ times
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Transfer the loan to another bank.
Immediately start repaying the loan.
Understand all terms and agreements.
Ignore the terms and conditions.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of loan is needs-based and has the government paying interest while in school?
Direct Unsubsidized Loan
Private Loan
Direct Subsidized Loan
Direct PLUS Loan
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who manages the billing and payment tracking for federal student loans?
Your college
The federal government
Your bank
A third-party loan servicer
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What can negatively affect your credit score in relation to student loans?
Making timely payments
Defaulting on a loan
Consolidating loans
Reducing your debt
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a benefit of starting to pay off loans early?
It increases the total interest paid.
It helps reduce the principal faster.
It extends the loan term.
It decreases your credit score.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a common way to qualify for loan forgiveness?
Paying off loans early
Teaching at a low-income school
Working in a high-income job
Switching to a private loan
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a characteristic of a graduated repayment plan?
Payments decrease over time.
Payments are based on credit score.
Payments remain constant.
Payments increase over time.
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