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Dave Ramsey Chapter 5 Flashcards | StudBud
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Dave Ramsey Chapter 5
Dave Ramsey Chapter 5
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Life after high school
Flashcards
29 cards
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Practice quiz
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Host live
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Questions
29
Answers
1
The total estimated student loan debt outstanding (unpaid) is over:
$1 trillion
$10 thousand
$1 billion
$7 trillion
2
Form completed annually by current & prospective college students-determines elig for fin aid
scholarship
FOS
grant
FAFSA
3
The average repayment period for a student loan is:
15 years
20 years
10 years
5 years
4
A program that allows students to work part time while continuing their studies
overtime
loan
work study
grant
5
Financial aid that does not need to be repaid; awarded on the basis of academics, athletics etc
loans
scholarship
grant
work study
6
Pro trainer serves as course instructor, uses a combo of hands-on activities & classrm training
state university
on-the-job training
community college
trade school
7
Which of the following is not one of the basics of budgeting?
Make it a priority to give
Pay yourself first by saving
Live on less than you make
Stick to your budget unless something unexpected happens
8
Percentage of college students that graduate with student loans:
30%
25%
90%
66%
9
Must shop for the best price for your educ the same way you comparison shop for any lg purchase
False
True
10
Which of the following is not recommended when you are cash-flowing your college education?
Attend an out-of-state school.
Make sure you have an emergency fund.
Live on a zero-based budget.
Work and save money over the summer months.
11
Which of the following is not a good option when it comes to paying for your education?
Get a part-time job
Ask your parents to take out a loan
Plan ahead
Fill out the FAFSA
12
A four-year degree is necessary regardless of which career youʹre entering.
False
True
13
The average millionaire reads one nonfiction book a month.
False
True
14
The best quality colleges are always the most expensive.
False
True
15
Students learn basic pro skills in 2 years or less; cut out many general courses req'd by univ
state university
on-the-job training
community college
trade school
16
A student loan is an award.
True
False
17
Form of federal/state fin aid that does not need to be repaid; given to students with fin need
forgiveness program
scholarship
loan
grant
18
A person that starts his or her own business
associate
entrepreneur
advisor
college graduate
19
All high-paying careers require a four-year college degree.
True
False
20
When shopping for the best education option, you should narrow down to 10 schools or less.
True
False
21
Scholarships are only for the highest academic achievers.
True
False
22
Students rarely drop out of college due to financial trouble.
False
True
23
May be free or low-cost; found online, at community colleges, or through govt-funded programs
associate's degree
certifications
bachelor's degree
trade school
24
A two-year government-supported college that offers an associateʹs degree
state university
technical college
trade school
community college
25
Pay as you go
budget
cash-flow
borrow
loan
26
Youʹll only need to complete the FAFSA once during your college education.
True
False
27
Academic & fin. choices you make in the next few years will affect the next 40 yrs of your life
False
True
28
The Fourth Foundation is:
Pay cash for college
Build wealth and give
Build a $500 emergency fund
Pay cash for your car
29
Our culture thinks student loan debt is normal & that itʹs an acceptable way to pay for college
False
True
