Foundations in Personal Finance Test 5 Study
Questions
The total estimated student loan debt outstanding (unpaid) is over . . . - - $1 trillion
True or False: Asking your parents to take out a loan is a good option when it comes to
paying for your education. - - False
Finding a mentor, surrounding yourself with people who have similar goals and ambitions
as you and reading books are all . . . - - Ways to invest in yourself!
True or False: A student loan is an award. - - False
True or False: Scholarships are only for the highest academic achievers. - - False
You should visit your college's financial aid office if . . . - - Your parents financial
situation has changed, you have any problems with the financial aid application process
and/or a medical situation has come up.
True or False: Students rarely drop out of college due to financial trouble. - - False
True or False: If you are cash-flowing your college education, attending an out-of-state
school is recommended. - - False
The average repayment period for a student loan is . . . - - 10 years
True or False: All high paying careers require a four-year college degree. - - False
The Fourth Foundation is . . . - - Pay cash for college
, Foundations in Personal Finance Test 5 Study
Questions
The negative consequences for taking out student loans are . . . - - 1) not having the
freedom to be a stay-at-home parent because of student loan payments, 2) having to delay
investing and saving for your future because of student loan payments, 3) not having
flexibility in your career options because of student loan payments
The percentage of college students that graduate with student loans is . . . - - 66%
A wise college plan does not include . . . - - Finding the most impressive, prestigious
college so that you can impress future employers
True or False: Stick to your budget unless something unexpected happens. - - False
True or False: our culture thinks student loan debt is normal and that it's an acceptable way
to pay for college. - - True
True or False: A four-year degree is necessary regardless of which career you are entering. -
- False
True or False: The average millionaire reads one nonfiction book a month. - - True
True or False: When shopping for the best education option, you should narrow down your
choice of colleges to 10 schools or less. - - False
True or False: The best quality colleges are always the most expensive. - - False
True or False: You must go to a prestigious school in order for employers to recognized your
talents and strengths. - - False
Questions
The total estimated student loan debt outstanding (unpaid) is over . . . - - $1 trillion
True or False: Asking your parents to take out a loan is a good option when it comes to
paying for your education. - - False
Finding a mentor, surrounding yourself with people who have similar goals and ambitions
as you and reading books are all . . . - - Ways to invest in yourself!
True or False: A student loan is an award. - - False
True or False: Scholarships are only for the highest academic achievers. - - False
You should visit your college's financial aid office if . . . - - Your parents financial
situation has changed, you have any problems with the financial aid application process
and/or a medical situation has come up.
True or False: Students rarely drop out of college due to financial trouble. - - False
True or False: If you are cash-flowing your college education, attending an out-of-state
school is recommended. - - False
The average repayment period for a student loan is . . . - - 10 years
True or False: All high paying careers require a four-year college degree. - - False
The Fourth Foundation is . . . - - Pay cash for college
, Foundations in Personal Finance Test 5 Study
Questions
The negative consequences for taking out student loans are . . . - - 1) not having the
freedom to be a stay-at-home parent because of student loan payments, 2) having to delay
investing and saving for your future because of student loan payments, 3) not having
flexibility in your career options because of student loan payments
The percentage of college students that graduate with student loans is . . . - - 66%
A wise college plan does not include . . . - - Finding the most impressive, prestigious
college so that you can impress future employers
True or False: Stick to your budget unless something unexpected happens. - - False
True or False: our culture thinks student loan debt is normal and that it's an acceptable way
to pay for college. - - True
True or False: A four-year degree is necessary regardless of which career you are entering. -
- False
True or False: The average millionaire reads one nonfiction book a month. - - True
True or False: When shopping for the best education option, you should narrow down your
choice of colleges to 10 schools or less. - - False
True or False: The best quality colleges are always the most expensive. - - False
True or False: You must go to a prestigious school in order for employers to recognized your
talents and strengths. - - False
