#1
Which of the following is a potential financial benefit of obtaining a higher education degree?
Increase in earning potential
Decrease in job opportunities
No impact on career advancement
Decrease in job security
#2
What is a common type of financial aid available to students pursuing higher education?
Scholarships
Tax refunds
Credit card rewards
Utility bill discounts
#3
What is the 'sticker price' of a college?
The actual cost to attend
The advertised cost before financial aid
The cost after scholarships are applied
The cost after student loans are applied
#4
What is a common strategy for reducing the cost of textbooks in college?
Buying new textbooks
Renting textbooks
Ignoring textbook purchases
Borrowing from the library
#5
Which of the following is NOT a potential source of funding for graduate students?
Scholarships
Grants
Parental allowance
Assistantships
#6
Which of the following is a factor to consider when budgeting for higher education?
Tuition fees
Social media usage
Daily commute time
Favorite TV shows
#7
What is a common strategy for managing student loan debt?
Consolidation
Ignoring payments
Taking out more loans
Not seeking employment
#8
What is the FAFSA and why is it important for college students?
It's a scholarship program for international students
It's a federal form for financial aid eligibility
It's a student discount card
It's a student loan forgiveness program
#9
How does the cost of attending a public university typically compare to a private university?
Public universities are usually more expensive
Private universities are usually more expensive
They cost about the same
There is no difference in cost
#10
Which of the following is NOT a common source of funding for graduate students?
Assistantships
Scholarships
Work-study programs
Parental allowance
#11
What is the average student loan debt for graduates in the United States?
$10,000 - $20,000
$20,000 - $30,000
$30,000 - $40,000
Over $40,000
#12
Which of the following is a potential consequence of defaulting on student loans?
Higher credit score
Lower interest rates
Wage garnishment
Increased loan forgiveness
#13
Which of the following statements about 529 plans is true?
They are used for retirement savings
They are specific to medical expenses
They are college savings plans
They are used for buying a car
#14
What is the difference between a subsidized and unsubsidized student loan?
Subsidized loans have lower interest rates
Unsubsidized loans accrue interest while in school
Subsidized loans require a credit check
Unsubsidized loans are only for graduate students
#15
What is the Lifetime Learning Credit?
A scholarship for high school students
A tax credit for college tuition
A student loan forgiveness program
A federal grant for undergraduate students
#16
What is the 70-20-10 rule in budgeting for higher education?
70% of income for tuition, 20% for books, 10% for living expenses
70% of income for living expenses, 20% for tuition, 10% for books
70% of income for books, 20% for tuition, 10% for living expenses
There is no such rule
#17
What is the difference between a traditional IRA and a Roth IRA?
Traditional IRA contributions are tax-deductible, Roth IRA contributions are not
Roth IRA contributions are tax-deductible, Traditional IRA contributions are not
There is no difference
Both IRAs are only for retirement savings
#18
What is the difference between a 401(k) and a 529 plan?
401(k) is for retirement savings, 529 plan is for college savings
401(k) is for college savings, 529 plan is for retirement savings
There is no difference, they are the same thing
Both are only for retirement savings
#19
What is the difference between a college savings plan and a prepaid tuition plan?
College savings plan is for retirement savings, prepaid tuition plan is for college savings
Prepaid tuition plan is for retirement savings, college savings plan is for college savings
There is no difference, they are the same thing
Both are only for retirement savings