Personal Finance: Chapter 5 - Life After High School

Question 1

What is a potential negative consequence of taking out student loans?

Accepted Answer

All of the above

Question 2

What does the average millionaire do?

Accepted Answer

Reads one book per month

Question 3

A form that does not need to be repaid; usually awarded based on academics or athletics is

Accepted Answer

scholarship

Question 4

What is the first step to receiving any kind of financial aid?

Accepted Answer

FAFSA

Question 5

What is the Fourth Foundation?

Accepted Answer

Pay cash for college

Question 6

What is a form of financial aid that does not need to be repaid?

Accepted Answer

Grant

Question 7

Your ____________ as an adult will be the average of the 5 people you hang out with the most.

Accepted Answer

Net worth

Question 8

A form of federal or state financial aid that does NOT need to be repaid; usually based on need

Accepted Answer

grant

Question 9

A four year degree is essential to a successful future.

Accepted Answer

False

Question 10

You should narrow down your choice of colleges to _____________.

Accepted Answer

less than 6

Question 11

What are some ways to get extra money for school?

Accepted Answer

All of the above

Question 12

What are they ways you can invest in yourself?

Accepted Answer

All of the above

Question 13

How long does it usually take to pay back student loans?

Accepted Answer

10 years

Question 14

T or F You need to complete the FAFSA every year during your college education.

Accepted Answer

True

Question 15

What should your two main goals be while in college?

Accepted Answer

Stay in school and stay out of debt

Question 16

The form completed yearly by college students to determine eligibility for financial aid is

Accepted Answer

FAFSA

Question 17

What was Mr. Holliday's work student job during college?

Accepted Answer

Writing Center Employee

Question 18

What percentage of student loan borrowers wind up dropping out of school?

Accepted Answer

30%

Question 19

What is the estimated student loan debt outstanding?

Accepted Answer

$1 trillion

Question 20

What is the program that allows students to work part time while continuing their studies?

Accepted Answer

Work study

Question 21

How many hours per week are recommended for students to work while attending college?

Accepted Answer

20

Question 22

What was the First Foundation we looked at this year?

Accepted Answer

Establish an emergency fund

Question 23

How long after you graduate do you need to start paying back your student loans?

Accepted Answer

Six months

Question 24

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

Accepted Answer

Stick to your budget unless something unexpected happens

Question 25

What does it mean to cash-flow your college education?

Accepted Answer

Pay as you go

Personal Finance: Chapter 5 - Life After High School

Questions 25

Personal Finance: Chapter 5 - Life After High School

Questions 25