Dave Ramsey Chapter 5

Form of federal/state fin aid that does not need to be repaid; given to students with fin need

The best quality colleges are always the most expensive.

Our culture thinks student loan debt is normal & that itʹs an acceptable way to pay for college

A student loan is an award.

The average millionaire reads one nonfiction book a month.

Academic & fin. choices you make in the next few years will affect the next 40 yrs of your life

A program that allows students to work part time while continuing their studies

Pay as you go

Youʹll only need to complete the FAFSA once during your college education.

Which of the following is not one of the basics of budgeting?

Scholarships are only for the highest academic achievers.

The total estimated student loan debt outstanding (unpaid) is over:

Which of the following is not recommended when you are cash-flowing your college education?

When shopping for the best education option, you should narrow down to 10 schools or less.

Must shop for the best price for your educ the same way you comparison shop for any lg purchase

Percentage of college students that graduate with student loans:

Students rarely drop out of college due to financial trouble.

A person that starts his or her own business

May be free or low-cost; found online, at community colleges, or through govt-funded programs

The average repayment period for a student loan is:

A four-year degree is necessary regardless of which career youʹre entering.

Form completed annually by current & prospective college students-determines elig for fin aid

Financial aid that does not need to be repaid; awarded on the basis of academics, athletics etc

All high-paying careers require a four-year college degree.

A two-year government-supported college that offers an associateʹs degree

The Fourth Foundation is:

Students learn basic pro skills in 2 years or less; cut out many general courses req'd by univ

Pro trainer serves as course instructor, uses a combo of hands-on activities & classrm training

Which of the following is not a good option when it comes to paying for your education?