Everfi Module 5 – Flashcards
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What education level has the highest return on investment (ROI)?
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Bachelor's Degree (4 years of college)
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When referring to student loans, what is a grace period?
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The period after graduating or leaving school before you must begin paying back student loans.
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Using the FAFSA form, you can apply for:
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Federal student loans and the federal work-study program
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Your sister is starting 9th grade and is thinking about going to college. What step would you recommend she first take?
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Look for school clubs and organizations she's interested in.
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Which type of loan requires that you pay the interest accumulated during college?
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Unsubsidized federal loan
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You are looking for ways to pay for your higher education. Which of the following options will require you to pay back the money you receive? a) grants b) 529 plans c) federal student loans d) scholarships
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c
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The Federal Application for Student Aid form: a) must be completed by your guidance counselor b) can only be filled out by US citizens c) is used to apply for private loans d) can be submitted online or by mail
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d
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Which of the following statements about FAFSA is true? a) you can only apply online b) the earliest you can submit FAFSA application is December 1 c) The IRS Data Retrieval Tool allows you to view and transfer your tax information directly into your FAFSA form d) Both A + B
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C
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Which of the following statements about federal student loans is true? a) the interest rate on your loan will be fixed over time b) the interest rate on federal loans and private loans are similar c) you can only get federal student loans if you demonstrate financial need. d) you do not accumulate interest on federal loans.
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a
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After you send in your FAFSA form, what will you receive back?
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Student Aid Report
