Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 Quiz
Quiz
To help us track the demographics of the clients we serve, please answer the following questions. We will not share any of your individual personal information with any third party organization.
First name: Last name: Age:
State of residence: Annual Income ($):  

1. What is the most common type of federal student loan?

Stafford
Perkins
PLUS


2. Your student loan might be with your state’s guarantee agency if you:

Owe more than $40,000
Are on the income-based repayment plan
Fell behind with payments


3. The graduated repayment plan is available for:

FFEL loans only
Direct and FFEL loans
Direct, FFEL, and Perkins loans


4. Under the extended repayment plan, you can stretch the length of the repayment period to up to:

20 years
25 years
30 years


5. Which of the following is a true statement about student loan consolidation?

You cannot consolidate if you are in default
You can add a private student loan to a federal consolidate loan if the balance is under $5,000
You can consolidate one loan


6. Your student loans can be canceled if you:

Cannot find a job after graduating
Become permanently disabled
Drop out of school before receiving a degree


7. For private student loans:

The lender is required by law to provide a deferment if you are unemployed
The lender is required by law to provide a forbearance if you are unemployed
The lender is not required by law to provide a deferment or forbearance if you are unemployed


8. If you have a subsidized federal student loan:

Interest will be suspended for a deferment but not a forbearance
Interest will be suspended for a forbearance but not a deferment
Interest will be suspended for a deferment and forbearance


9. You are considered in default if you are more than ____ days past due:

180
270
365


10. For federal student loans, you have a one-time right to get out of default with a:

rehabilitation repayment plan
reasonable and affordable repayment plan
income-sensitive repayment plan

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