Chapter 5 Review – Flashcards

The total estimated student loan debt outstanding(unpaid) is over?

WOTF is not a good option when it comes to paying for your education?

WOTF are ways that you can invest in yourself?

WOTF is false?

WOTF about college financial aid is false?

You should visit your college's financial aid office if:

WOTF is false?

WOTF is not recommended when you are cash-flowing your college education?

The average repayment method for a student loan is:

WOTF is false?

The Fourth Foundation is:

WOTF could be a negative consequence of taking out student loans?

Percentage of college students that graduate with student loans:

A wise college plan does not include:

WOTF is not one of the basics of budgeting?

Our culture thinks student loan debt is normal and that it's an acceptable way to pay for college

A four-year degree is necessary regardless of which career you're entering

The average millionaire reads one nonfiction book a month

The best quality colleges are always the most expensive

You must go to a prestigious school in order for employers to recognize your talents and strengths

If you plan to attend a community college for your first two years, youʹll want to work closely with your advisor to make sure that the classes you take will transfer to your four-year school of choice

You must shop for the best price for your education in the same way you comparison shop for any large purchase.

Youʹll only need to complete the FAFSA once during your college education.

The academic and financial choices you make in the next few years will affect the next 40 years of your life.

A form that is completed annually by current and prospective college students to determine their eligibility for financial aid

A form of financial aid that does not need to be repaid; usually awarded on the basis of academic, athletic or other achievements

A program that allows students to work part time while continuing their studies

A form of federal or state financial aid that does not need to be repaid; usually given to students who demonstrate financial need

A two-year government-supported college that offers an associateʹs degree

Usually a professional trainer serves as the course instructor and uses a combination of hands -on activities and formal classroom training

Allows students to learn basic professional skills in two years or less; typically cut out many of the general courses required by traditional universities

These may be free or low-cost; found online, at community colleges, or through government-funded programs

A person that starts his or her own buisness

Pay as you go