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Money Management For Students Flashcards | StudBud
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Money Management For Students
Money Management For Students
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Flashcards
24 cards
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Practice quiz
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Questions
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Answers
1
Which is NOT a repayment plan option?
Graduated
Extended
Standard
Need-Based
2
Winning prizes while enjoying yummy snacks is fun!
True
False
3
Powercat Financial offers clients sessions via Zoom in addition to in-person.
False
True
4
How long do students have before they HAVE to start paying on federal direct student loans (grace period)?
1 year
6 months
During school
Right after graduation
5
For 2022-2023 school year, undergraduate student loan interest rates are....?
4.99%
3.73%
2.75%
6.08%
6
Powercat Financial is located:
Union room 302 on the 3rd floor
K-State Rec Center room 1234
In a roving money bus :)
Basement of Kedzie
7
Who should you contact to determine your student loan repayment options should you have financial difficulties?
Your high school counselor
Your siblings
Your credit card company
Your federal student loan servicer or private loan lender
8
The most important factor in determining your credit score is ...
your timeliness of repayment
your utilization of credit limits
your length of credit history
having a mix of types of credit
9
How much can you save in interest reduction if you set up automatic payments on your student loans?
1%
5%
0.75%
0.25%
10
You can meet with PF for free as many time as you would like by requesting appointments at www.ksu.edu/powercatfinancial
False
True
11
If you don't pay the interest off by the end of your grace period, you will pay interest on that interest.
True
False
12
Which is not part of Student Loan Forgiveness?
Military Service
Practicing medicine in certain areas
Kansas Rural Opportunity
Work Study
13
Preparing a detailed budget is the first step in accepting your financial aid.
True
False
14
You can earn up to $100 by enrolling in and completing a zero credit hour Financial Well-being mini-module course?
True
False
15
You have to repay any grants you receive.
True
False
16
How long of a repayment period is the default federal Standard Repayment Plan?
As long as it takes
20 years
5 years
10 years
17
Unsubsidized and Plus loans begin accruing interest while in school.
False
True
18
The website that has details about your federal loans and a handy loan simulator tool to illustrate your repayment is?
Studentaid.gov
Federalloans.org
Studentaid.com
Studentloans.edu
19
Which type of financial aid is offered to all students who fill out the FAFSA?
Unsubsidized Loan
Subsidized Loan
Grant
Parent Plus Loan
20
What do you get for free when you visit the PF office the 1st Friday each month?
Hot tea
Cake
Shrimp
A soda
21
Making additional or larger payments will result in paying less in interest.
True
False
22
Graduate/Professional student loans have ______ fixed interest rates than undergraduate student loans.
higher
lower
the same
23
The KS Rural Opportunity Zone program forgives $15,000 of student loans over 5 years.
True
False
24
When budgeting, it is important to estimate high on expenses and low on income.
True
False