PF 3.03 - 3.05 Higher Education Question Preview (ID: 34829)
PF 3.03 - 3.05 Higher Education.
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She wants to be a veterinarian but does not have the money to complete this goal. She attends a 2‐year program to become a vet tech, and works for 3 years in the field while saving money for her college and veterinary school. This plan is a/an
a) Career pathway
b) Opportunity cost
c) Debt‐to‐income ratio
d) SMART goal
As Jonah plans for his future, his family has challenged him to create a SMART goal for his career education and training. Which question is the LEAST IMPORTANT one to consider at this point?
a) Can I get the education and training I need near where I currently live?
b) Is there a career pathway available if I continue my education and training?
c) What kind of training and education do I need and how much will it cost?
d) Will a job be available and will I earn enough in my career to pay for the education and training it requires?
The ________ of continuing your education is the money you would have earned if you have worked instead.
a) Opportunity cost
b) Debt‐to‐income ratio
c) Benefit
d) total estimated cost
It is recommended that your educational loan payments require no more than 10‐15% of your estimated starting income. To calculate this amount, students need to calculate the ____________ of their education and training.
a) Debt‐to‐income ratio
b) Career pathway
c) Benefit
d) Opportunity cost
When Charles received his college placement test results, he is informed that he will need remediation in math. Which situation IS NOT TRUE of Charles’ situation?
a) Since the remedial courses Charles must take will not count toward his degree, tuition is not charged.
b) Charles will need to take at least one course because he is not college‐ready.
c) Charles should have taken a placement test earlier in high school to his academic skills before heading for college.
d) Such courses don't count toward his degree, so his college degree may take longer to complete.
Which statement is TRUE regarding college‐level expectations for studying and completing projects?
a) Plan backwards from major deadlines.
b) It is best to study alone in a quiet environment.
c) Multi‐tasking develops the skill of working while distracted, so it is okay to watch TV while studying.
d) A busier schedule makes it important to write down only critical tasks. Writing down smaller details is not recommended.
Erin has been in college for 2 years and has decided that the major she has been studying isn’t for her. Changing her major and/or her college could result in:
a) losing credits for classes she has already taken.
b) the need for backwards planning.
c) a well‐rounded college degree.
d) remediation courses to make up for the change in majors.
David plans to apply for college in 2 years. His guidance counselor suggested that he begin adding items to a ‘college/training application’ folder. Which items WOULD NOT be helpful as additions to this folder?
a) copies of his elementary and middle school report cards
b) a list of all the extracurricular activities he gets involved in
c) a resume of all community service and volunteer work he is actively involved in
d) copies of awards and achievements he earns
Sean plans to attend college in 2 years. He and his family have saved some money to help pay for it but he want to explore ways he can receive money he WON’T need to repay. Which set of options below should he explore?
a) Pell Grants, Work‐study, and scholarships
b) Work‐study, scholarships and PLUS Loans
c) Federal Student Grants, PLUS Loans, and scholarships
d) Federal Perkins Loans, PLUS and local bank loans
Which are ways to receive money for college that WON’T need to be repaied?
a) Pell Grants, Work‐study, and scholarships
b) Federal Student Grants, PLUS Loans, and scholarships
c) Work‐study, scholarships and PLUS Loans
d) Federal Perkins Loans, PLUS and local bank loans
Which is NOT difference between of a Direct Subsidized Stafford Loan and a typical bank loan?
a) Stafford Loans have deferment options.
b) Stafford Loans typically have a grace period.
c) families must complete an application for a Stafford Loan.
d) Interest rates for Stafford loans tend to be higher
Which application will determine which typed of need‐based aid a student will qualify for?
a) Free Application for Federal Student Aid (FAFSA)
b) Direct Subsidized Stafford Loan Application
c) Federal Work Study Application
d) Perkins Federal Loan Application
Which is not a potential consequence of default on a student loan?
a) He may not be able to obtain a marriage license.
b) Banks could refuse to allow him to open a checking account.
c) His wages may be garnished.
d) Denied credit cards, car or home loans, or apartment leases
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