Everfi Financial Literacy- Module 5 -
Higher Education - Final Quiz Questions
and Answers
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 rates 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.
A) The interest rate on your loan will be fixed over time.
You are looking for ways to pay for your higher education costs. Which of the following options
will require you to pay back any money you receive?
A) Grants
B) 529 plans
C) Federal student loans
D) Scholarships
C) Federal student loans
Which answer best describes an unsubsidized federal loan?
A) You are only responsible for the cost of the loan.
, B) You are responsible for paying all the interest that accumulates on your loan.
C) The federal government will only cover the interest accumulated on the loan if you graduate
and earn a degree.
D) The federal government will cover the interest accumulated on the loan while you're in
school.
B) You are responsible for paying all the interest that accumulates on your loan.
Which type of loan requires that you pay the interest accumulated during college?
A) Subsidized federal loan
B) Unsubsidized federal loan
C) Pell Grant
D) University scholarship
B) Unsubsidized federal loan
Select the answer that best describes why the return on investment (ROI) for higher education is
high even though the cost of college is increasing.
A) You have the potential to earn more money in the future when you continue your education
past high school.
B) You have the potential to earn less money in the future when you continue your education
past college.
C) Higher education is not an investment but a debt.
D) Earning potential is not affected by education level.
Higher Education - Final Quiz Questions
and Answers
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 rates 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.
A) The interest rate on your loan will be fixed over time.
You are looking for ways to pay for your higher education costs. Which of the following options
will require you to pay back any money you receive?
A) Grants
B) 529 plans
C) Federal student loans
D) Scholarships
C) Federal student loans
Which answer best describes an unsubsidized federal loan?
A) You are only responsible for the cost of the loan.
, B) You are responsible for paying all the interest that accumulates on your loan.
C) The federal government will only cover the interest accumulated on the loan if you graduate
and earn a degree.
D) The federal government will cover the interest accumulated on the loan while you're in
school.
B) You are responsible for paying all the interest that accumulates on your loan.
Which type of loan requires that you pay the interest accumulated during college?
A) Subsidized federal loan
B) Unsubsidized federal loan
C) Pell Grant
D) University scholarship
B) Unsubsidized federal loan
Select the answer that best describes why the return on investment (ROI) for higher education is
high even though the cost of college is increasing.
A) You have the potential to earn more money in the future when you continue your education
past high school.
B) You have the potential to earn less money in the future when you continue your education
past college.
C) Higher education is not an investment but a debt.
D) Earning potential is not affected by education level.
