Higher Education Quiz

Last updated almost 4 years ago

10 questions

10

Erin has been in college for 2 years and has decided that the major she has been studying isn’t for her. Changing her major and/or her college could result in:

A a well‐rounded college degree.

B the need for backwards planning.

C losing credits for classes she has already taken.

D remediation courses to make up for the change in majors.

David plans to apply for college in 2 years. His guidance counselor suggested that he begin adding items to a ‘college/training application’ folder. Which items WOULD NOT be helpful as additions to this folder?

A Copies of awards and achievements he earns

B A list of all the extracurricular activities he gets involved in

C A resume of all community service and volunteer work he is actively involved
in

D Copies of his elementary and middle school report cards

As Jonah plans for his future, his family has challenged him to create a SMART goal for his career education and training. Which question is the LEAST IMPORTANT one to consider at this point?

A What kind of training and education do I need and how much will it cost?

B Is there a career pathway available if I continue my education and training?

C Can I get the education and training I need near where I currently live?

D Will a job be available and will I earn enough in my career to pay for the
education and training itrequires?

Mallory has set a career goal of becoming a veterinarian but does not have the money to complete this goal without taking out very large student loans. She decides to attend a 2‐year program to become a veterinary technician, and then work for 3 years in that field while saving money for her remaining 2 years of college and veterinary school. Mallory’s plan is known as a/an:

A Career pathway

B Opportunity cost

C Debt‐to‐income ratio

D SMART goal

The _________________ of continuing your education is the money you would have earned if you have worked instead.

A Debt‐to‐income ratio

B Opportunity cost

C Benefit

D Total estimated cost

It is recommended that your educational loan payments require no more than 10‐15% of your estimated starting income. To calculate this amount, students need to calculate the _________ of their education and training.

A Opportunity cost

B Career pathway

C Benefit

D Debt‐to‐income ratio

Sean plans to attend college in 2 years. He and his family have saved some money to help pay for it but he want to explore ways he can receive money he WON’T need to repay. Which set of options below should he explore?

A Federal Perkins Loans, PLUS and local bank loans

B Federal Student Grants, PLUS Loans, and scholarships

C Pell Grants, Work‐study, and scholarships

D Work‐study, scholarships and PLUS Loans

Direct Subsidized Stafford Loans offer some features that are different when compared to borrowing money from a bank to pay for college. Which of the following is NOT difference between of a Direct Subsidized Stafford Loan and a typical bank loan?

A Interest rates for Stafford loans tend to be higher because the loans are held
for a relatively long period of time.

B Stafford Loans have deferment options.

C Stafford Loans typically have a grace period.

D Student families must complete a FAFSA (Free Application For Federal Student
Aid) in order toapply for a Stafford Loan.

Carson’s family has always struggled financially due to his parents’ leaving high school before graduating and working lower paying jobs to support the family. His parents don’t want him to make the same mistake and are encouraging him to apply for scholarships and any type of student aid he might qualify for. Which application will determine which typed of need‐based aid he will qualify for?

A Perkins Federal Loan Application

B Direct Subsidized Stafford Loan Application

C Federal Work Study Application

D Free Application for Federal Student Aid (FAFSA)

Jaimen is struggling to make his student loan payments after college. He is considering defaulting on the student loan. Which is not a potential consequence if he decides to default on the student loan?

A He could be denied credit cards, car or home loans, or apartment leases.

B The bank could refuse to allow him to open a checking account.

C He may not be able to obtain a marriage license.

D His wages may be garnished.

Erin has been in college for 2 years and has decided that the major she has been
studying isn’t for her. Changing her major and/or her college could result in:

A a well‐rounded college degree.

B the need for backwards planning.

C losing credits for classes she has already taken.

D remediation courses to make up for the change in majors.

David plans to apply for college in 2 years. His guidance counselor suggested
that he begin adding items to a ‘college/training application’ folder. Which
items WOULD NOT be helpful as additions to this folder?

A Copies of awards and achievements he earns

B A list of all the extracurricular activities he gets involved in

C A resume of all community service and volunteer work he is actively involved
in

D Copies of his elementary and middle school report cards

As Jonah plans for his future, his family has challenged him to create a SMART
goal for his career
education and training. Which question is the LEAST IMPORTANT one to consider at
this point?

A What kind of training and education do I need and how much will it cost?

B Is there a career pathway available if I continue my education and training?

C Can I get the education and training I need near where I currently live?

D Will a job be available and will I earn enough in my career to pay for the
education and training itrequires?

Mallory has set a career goal of becoming a veterinarian but does not have the
money to complete this goal without taking out very large student loans. She
decides to attend a 2‐year program to become a veterinary technician, and then
work for 3 years in that field while saving money for her remaining 2 years of
college and veterinary school. Mallory’s plan is known as a/an:

A Career pathway

B Opportunity cost

C Debt‐to‐income ratio

D SMART goal

The _________________ of continuing your education is the money you would have
earned if you have
worked instead.

A Debt‐to‐income ratio

B Opportunity cost

C Benefit

D Total estimated cost

It is recommended that your educational loan payments require no more than
10‐15% of your estimated starting income. To calculate this amount, students
need to calculate the _________ of their education and training.

A Opportunity cost

B Career pathway

C Benefit

D Debt‐to‐income ratio

Sean plans to attend college in 2 years. He and his family have saved some money
to help pay for it but he want to explore ways he can receive money he WON’T
need to repay. Which set of options below should he explore?

A Federal Perkins Loans, PLUS and local bank loans

B Federal Student Grants, PLUS Loans, and scholarships

C Pell Grants, Work‐study, and scholarships

D Work‐study, scholarships and PLUS Loans

Direct Subsidized Stafford Loans offer some features that are different when
compared to borrowing
money from a bank to pay for college. Which of the following is NOT difference
between of a Direct
Subsidized Stafford Loan and a typical bank loan?

A Interest rates for Stafford loans tend to be higher because the loans are held
for a relatively long period of time.

B Stafford Loans have deferment options.

C Stafford Loans typically have a grace period.

D Student families must complete a FAFSA (Free Application For Federal Student
Aid) in order toapply for a Stafford Loan.

Carson’s family has always struggled financially due to his parents’ leaving
high school before graduating
and working lower paying jobs to support the family. His parents don’t want him
to make the same
mistake and are encouraging him to apply for scholarships and any type of
student aid he might qualify for. Which application will determine which typed
of need‐based aid he will qualify for?

A Perkins Federal Loan Application

B Direct Subsidized Stafford Loan Application

C Federal Work Study Application

D Free Application for Federal Student Aid (FAFSA)

Jaimen is struggling to make his student loan payments after college. He is
considering defaulting on the student loan. Which is not a potential consequence
if he decides to default on the student loan?

A He could be denied credit cards, car or home loans, or apartment leases.

B The bank could refuse to allow him to open a checking account.

C He may not be able to obtain a marriage license.

D His wages may be garnished.