What is a Master Promissory Note?

Legal Document that makes you promise you will pay back your loans

What is a reason to get a Private Loan instead a federal?

If you need a loan that can cover more than 12.5k

What is fixed interest rate?

The interest does not change at all when paying off the loan

What is a income share agreement loan?

where someone were to make a monthly payment based on their income

What is variable interest rate?

the interest rate is up to change overtime when paying off the loan

What are the two thing you need to have completed before getting you federal loan funds?

Master Promissory Notes and Entrance Counseling

What is a great resource for you to use to learn more about Federal Student Loans?

Student Aid website (studentaid.gov)

Who funds federal loans?

United States Department of Education

studbud

How to get a Student Loan Quiz

16 termsStudBud Administration29 plays

Imported from external platform

Flashcards16 cardsFPractice quizPHost liveL

Questions 16

Answers

1
What affects if you get a Direct Subsidized Loan?
PASTA
FATSA
PERSONA
FASFA
2
What is the main two types of Student loans?
Financial and Debt
Federal and Student
Blue and Yellow
School and Career
3
Can Federal Loans have Variable Interest rate?
False
True
4
How much can you get from a federal loan?
5.5k-12.5k
5k-10k
0.99$-6.99$(Charbroiled Chicken Club with Chile Strips)
5,000k-12,500k
5
What is a Master Promissory Note?
Legal Document that makes you promise you will pay back your loans
Legal Document where you put some type of property as found
Legal Bind that makes you pay your interest to the U.S. Department of State
Legal Deal that makes you get a Charbroiled Chicken Club with Chile Strips
6
What is a reason to get a Private Loan instead a federal?
If you need a loan that can cover more than 12.5k
If you need a loan that needs no credit score
If you need a loan that has a some of it covered by gov because of your job
You need a loan that you don't have to pay for until you get out of school
7
What is fixed interest rate?
the interest rate is up to change overtime when paying off the loan
the interest rate started increasing at a fixed rate
a type of moon that does not have a set path around its planet
The interest does not change at all when paying off the loan
8
What is a income share agreement loan?
where someone were to make a monthly payment based on their debt
where someone were to make a monthly payment based on their Splatoon hours
where someone would pay a fixed interest based on there loan balance
where someone were to make a monthly payment based on their income
9
What is variable interest rate?
the interest rate is up to change overtime when paying off the loan
rounded astronomical body that is neither a star nor its remnant
a symbol that represents a mathematical object
The interest does not change at all when paying off the loan
10
What are the two thing you need to have completed before getting you federal loan funds?
FAFFA and Master Promissory Note
Mister Promise Letter and Hallway Therapy
Master Promissory Notes and Entrance Counseling
SAT and ACT
11
What is a great resource for you to use to learn more about Federal Student Loans?
College Help Website (HelpCollege3443.com)
Student Aid website (studentaid.gov)
Banklate Website (Banklate.gov)
Cool Math Games Website (Coolmathgames.net)
12
Who funds federal loans?
United States Department of the Treasury
United States Department of Education
United States Department of Nah I'd Win
United States Department of State
13
When you apply to a Private Loan do you need some from of credit score(record)?
True
False
14
What Job could you have where the Federal government might pay for some of your loan?
Marine Biologist
Public service
Tiktok Live Streamer
Banker
15
If someone is in there first year of college are they a...
Graduate
Kindergartener
Undergraduate
Highschooler
16
Does a soft credit check affect your credit score?
False
True

How to get a Student Loan Quiz Flashcards | StudBud