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