question archive Which federal student loans carry the highest interest rates? Federal PLUS loans for parents Federal direct subsidized loans all federal loans carry the same interest rate Federal direct unsubsidized loans Clear selection During the grace period which federal loan(s) accrue interest during its grace period? 1 point   Federal Perkins Loan   Federal Direct Subsidized Loan   Federal Direct Unsubsidized Loan   Federal Direct PLUS Loan Clear selection Which type of loan is based on credit worthiness? 1 point   Federal direct subsidized loans   Federal PLUS loans for parents   Federal direct unsubsidized loans   Federal Perkins loans   How long is the Federal Perkins grace period? 1 point   4 years and a day   6 months   There is none   9 months   When do you have to start paying back your private loans? 1 point   9 months   6 months after you finish school   immediately   yesterday   Once you take out your first federal student loan, you're guaranteed to get the same rate each year you're enrolled in college or graduate school

Which federal student loans carry the highest interest rates? Federal PLUS loans for parents Federal direct subsidized loans all federal loans carry the same interest rate Federal direct unsubsidized loans Clear selection During the grace period which federal loan(s) accrue interest during its grace period? 1 point   Federal Perkins Loan   Federal Direct Subsidized Loan   Federal Direct Unsubsidized Loan   Federal Direct PLUS Loan Clear selection Which type of loan is based on credit worthiness? 1 point   Federal direct subsidized loans   Federal PLUS loans for parents   Federal direct unsubsidized loans   Federal Perkins loans   How long is the Federal Perkins grace period? 1 point   4 years and a day   6 months   There is none   9 months   When do you have to start paying back your private loans? 1 point   9 months   6 months after you finish school   immediately   yesterday   Once you take out your first federal student loan, you're guaranteed to get the same rate each year you're enrolled in college or graduate school

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Which federal student loans carry the highest interest rates?

Federal PLUS loans for parents

Federal direct subsidized loans

all federal loans carry the same interest rate

Federal direct unsubsidized loans

Clear selection

During the grace period which federal loan(s) accrue interest during its grace period?

1 point

 

Federal Perkins Loan

 

Federal Direct Subsidized Loan

 

Federal Direct Unsubsidized Loan

 

Federal Direct PLUS Loan

Clear selection

Which type of loan is based on credit worthiness?

1 point

 

Federal direct subsidized loans

 

Federal PLUS loans for parents

 

Federal direct unsubsidized loans

 

Federal Perkins loans

 

How long is the Federal Perkins grace period?

1 point

 

4 years and a day

 

6 months

 

There is none

 

9 months

 

When do you have to start paying back your private loans?

1 point

 

9 months

 

6 months after you finish school

 

immediately

 

yesterday

 

Once you take out your first federal student loan, you're guaranteed to get the same rate each year you're enrolled in college or graduate school.

1 point

 

True

 

False

 

What does PLUS stand for

1 point

 

Parent Loan of Undergraduate Student

 

Parents Love Unique Students

 

People Learn Undergraduate Stuff

 

How great does your financial need need to be to receive a Perkins loan?

1 point

 

Decent

 

Exceptional

 

Average

 

you don't need any

 

Who sets the interest rates on federal student loans ?

1 point

 

The Department of Education

 

The Consumer Financial Protection Bureau

 

Fannie Mae

 

Congress

 

Who gives/provides private loans?

1 point

 

Banks

 

Credit Unions

 

Both

 

Private loans have higher interest than federal

1 point

 

True

 

False

 

Private loans have fixed interest rates.

1 point

 

True

 

False

 

You must apply for forbearance.

1 point

 

True

 

False

 

Both Forbearance and Deferment postpone your loans.

1 point

 

True

 

False

 

Anyone in the world may qualify to take out a Federal Loan.

1 point

 

True

 

False

 

Both subsidized loans an unsubsidized loans are need based.

1 point

 

False

 

True

 

Why are deferments preferable to forbearance if you have subsidized Stafford loans?

1 point

 

Because the federal department of education will pay the interest

 

Because its popularly used by all students

 

Because it has less interest

 

Under what circumstances can borrowers postpone repayment of their federal student loans?

1 point

 

If they go to grad school

 

all of the above

 

If they experience economic hardship

 

If they can't find a full-time job

 

You fill out your FAFSA to determine

1 point

 

your credit score

 

what college you're going to

 

what type of loan you receive

 

what you should eat for dinner

 

The interest rates on federal student loans issued today are...

1 point

 

variable

 

once issued, interest rates on federal student loans are fixed for the life of the loan

 

a hybrid (initially fixed than variable)

 

Could be all any of the above depending on the lender

 

You must apply for deferment.

0 points

 

True

 

False

 

What's the form you have to fill out to apply for college financial aid from the federal government?

1 point

Government college aid form

Free application for Federal Student Aid

Federal student loan application

Clear selection

All 4 types of federal loans have the same length of a grace period.

1 point

True

False

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