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Student Loan Knowledge Flashcards | StudBud
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Student Loan Knowledge
Student Loan Knowledge
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What do you know about student loans?
Flashcards
14 cards
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Practice quiz
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Questions
14
Answers
1
Who had a higher return on investment in their college education?
An engineer
A cashier
A teacher
2
Is the student loan default rate increasing or decreasing?
Decreasing
Increasing
3
Many students loans offer a grace period before repayment must begin of 6 months.
False
True
4
Why are some borrowers, who are make their payments, seeing the loan balance continue to rise?
accruing interest
rising inflation
missed payments
5
A study by the FR Bank of NY found the avg rtrn on investment in a college education to be...
3%
15%
20%
7%
6
You don’t start paying interest on your loans until after you graduate.
True
False
7
You don't have to repay your student loans if you don't graduate.
False
True
8
The average amount of debt per undergraduate student borrower in 2014 was:
$8,000
$31,000
$27,000
$16,000
9
Students who owe less than $5,000 in student debt have higher default rates.
True
False
10
Student loan debt can be discharged in a bankruptcy.
False
True
11
What general rule for borrowing student loans?
do not borrow more then you'll make in five years
do not borrow more then you'll make in one year
do not borrow more then you'll make in your lifetime
do not borrow more then your parents make
12
What percentage of 25-year-olds hold student debt?
57%
18%
43%
35%
13
College graduates earn 80% high income than non graduates.
False
True
14
How does significant student loan debt affect a person’s credit score?
It reduces the score
It raises the score
It is not considered
It has no impact
