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The Ultimate Student Debt Quiz
by Staff
Most U.S. college students graduate with more than a diploma -- they also receive a loan payment plan. Student debt amounts are increasing while jobs for new grads are not plentiful. Before accepting any loans, students should educate themselves.

Where can students get free money for school?

  • scholarships
  • grants
  • both answers

How expensive is a four-year degree?

  • 10000
  • 20000
  • 200000

What fraction of college students will graduate owing student loans?

  • one-fourth
  • one-half
  • two-thirds

After graduating, when do graduates start repaying their loans?

  • three months
  • six months
  • one year

With an 8 percent interest rate and a 10 year repayment plan, what is the monthly payment for $50,000 in student debt?

  • 350
  • 450
  • 600

What are some consequences of defaulting on your student loan?

  • wages garnished
  • tax refund claimed
  • both answers

When you graduate, what percent of your before tax salary should be enough to cover your loans?

  • 5 percent
  • 10 percent
  • 15 percent

What is the different between private and government student loans?

  • lower interest rate
  • higher interest rate
  • higher fees

What is the starting salary for civil engineers?

  • 30000
  • 40000
  • 50000

Who makes more money in the first year of work, an elementary teacher or an information-technology specialist?

  • same salary
  • teacher
  • information-technology specialist

Where can you get information about the starting salaries for various jobs?

  • Payscale
  • Netflix
  • College Board

Too much student debt may cause you to put off buying a:

  • home
  • car
  • engagement ring

Are student loans available for graduate studies?

  • private loans
  • government loans
  • both answers

In good times, what is the average time it takes to pay off your student loans?

  • five years
  • 10 years
  • 20 years

In the '90s, what was the average debt of a college graduate?

  • 10000
  • 14000
  • 23000

How has the average student debt changed since the 1990s?

  • lower
  • same
  • higher

Compared to previous years, are more or less students taking on student debt?

  • lower
  • same
  • higher

For most students, what determines your ability to pay back your debt?

  • salary
  • family help
  • loan forgiveness

What is a loan deferral?

  • loan forgiveness
  • interest rate reduction
  • stops payments

What should a student do before accepting student loan money?

  • celebrate
  • think long and hard
  • cry