Ch. 5 - Life After High School (Dave Ramsey)--Part 1 Question Preview (ID: 22171)


Consumer Education. TEACHERS: click here for quick copy question ID numbers.

The total estimated student loan debt outstanding (unpaid) is over:
a) $1 Trillion
b) $10 thousand
c) $7 trillion
d) $1 billion

Which of the following is not a good option when it comes to paying for your education?
a) Plan ahead
b) Fill out the FAFSA
c) Ask your parents to take out a loan
d) Get a part-time job

Which of the following are ways that you can invest in yourself?
a) Find a mentor
b) Surround yourself with people who have similar goals and ambitions as you
c) Read books
d) All of the above

Which of the following statements is false?
a) Millions of people can't afford to make their student loan payment every month
b) Our culture acceps student loan debt as normal and sometimes even refers to it as good debt
c) Debt is owning anything to anyone for any reason
d) A student loan is an award

Which of the following statements about college financial aid is false?
a) Many businesses have scholarships for employees' children
b) Grants are free money
c) The Free Applications for Federal Student Aid (FAFSA) is the first step to receiving any kind of financial aid.
d) Scholarships are only for the highest academic achievers

You should visit your college's financial aid office if:
a) Your parents' financial situation has changed
b) You have any problems with the financial aid application process
c) A medical situation has come up
d) All of the above

Which of the following statements is false?
a) On-campus jobs may pay you directly or pay toward your tuition bill
b) Research shows that students who work up to 20 hours a week have the hightest grade point averages
c) Research shows that working more than 20 hours a week may affect your grades negatively
d) Students rarely drop out of college due to financial trouble

Which of the following is not recommended when you are cash-flowing your college eduation?
a) Live on a zero-based budget
b) Attend an out-of-state school
c) Work and save money over the summer months
d) Make sure you have an emergency fund

The average repayment period for a student loan is:
a) 15 years
b) 5 years
c) 20 years
d) 10 years

Which of the following statements is false?
a) On-the-job training often combines a professional trainer, hands-on activities and formal classroom training
b) Students who are looking to learn specific skills can look into free or low-cost certifications found online
c) An associate's degree is a two-year degree that can offer specialized training and flexible schedule that allows you to work
d) All high-paying careers require a four-year college degree.

The Fourth Foundation is:
a) Pay cash for your car
b) Build wealth and give
c) Build a $500 emergency fund
d) Pay cash for college

Which of the following could be a negative consequence of taking out student loans?
a) Not having the freedom to be a stay-at-home parent because of student loan payments
b) Having to delay investing and saving for your future because of student loan payments
c) Not having flexibility in your career options because of student loan payments
d) All of the above

Percentage of college students that graduate with student loans:
a) 90%
b) 66%
c) 30%
d) 25%

A wise college plan does not include:
a) Creating a budget and starting to save now
b) Shopping around for the most appropriate, low-cost academic option for your career choice
c) Scoring well on the ACT or SAT
d) Finding the most expensive, prestigious college so that you can impress future employers

Which of the folloiwng is not one of the basice of budgeting?
a) Pay yourself first by saving
b) Stick to your budget unless something unexpected happend
c) Make it a priority to give
d) Live on less than you make

Our culture thinks student loan debt is normal and that itʹs an acceptable way to pay for college.
a) True
b) False
c)
d)

A four-year degree is necessary regardless of which career youʹre entering.
a) True
b) False
c)
d)

The average millionaire reads one nonfiction book a month.
a) True
b) False
c)
d)

When shopping for the best education option, you should narrow down your choice of colleges to 10 schools or less
a) True
b) False
c)
d)

The best quality colleges are always the most expensive.
a) True
b) False
c)
d)

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