Title: QUIZ: Get an Education, Even if It Means Borrowing -- Page One Economics®
Course: Kelly's Copy and Export Course > Section: Get an Education, Even if It Means Borrowing -- Page One Economics®

Q: The difference between an institution’s tuition and fees and its net price is which of the following?
- Net price is an average price based on the price of tuition and fees, books and supplies, room and board, and other expenses less grants and scholarships.
- Net price is an average price based on not only tuition and fees, but also books and supplies, and room and board.
- Net price is the actual price every student pays.
- There is no difference between tuition and fees and net price.
A: Net price is an average price based on the price of tuition and fees, books and supplies, room and board, and other expenses less grants and scholarships.

Q: How should one evaluate whether a public institution is more cost-effective than a private not-for-profit institution?
- Compare the tuition and fees for both types.
- Compare the loans one would get from the schools.
- Compare the net price for both types.
- Public school is always less expensive than private school.
A: Compare the net price for both types.

Q: Which of the following statements about filing a FAFSA is true?
- Few schools use the FAFSA to determine grants and scholarships eligibility.
- The FAFSA is used to determine your expected family contribution, the amount the school provides your family.
- Loan eligibility is calculated separately from the FAFSA process.
- The FAFSA is used in the process of determining your cost of attendance (COA).
A: The FAFSA is used in the process of determining your cost of attendance (COA).

Q: The difference between a direct subsidized loan and a direct unsubsidized loan is which of the following?
- There is no interest assessed on a direct subsidized loan.
- The Department of Education guarantees direct subsidized loans.
- The direct subsidized loan can be eliminated through bankruptcy.
- The Department of Education pays the interest on the direct subsidized loan while the student attends school.
A: The Department of Education pays the interest on the direct subsidized loan while the student attends school.

Q: Which type of loan carries the highest interest rate?
- Indirect unsubsidized loan
- Direct subsidized loan
- Direct unsubsidized loan
- Direct PLUS loan
A: Direct PLUS loan

Q: Which of the following is an advantage and a disadvantage of a direct consolidation loan?
- An advantage is that the loan costs less in the long run; a disadvantage is that the borrower gets less time to pay the loan.
- An advantage is that the monthly payments are less; a disadvantage is that the loan is costlier in the long run.
- An advantage is that the loan can be discharged through bankruptcy; a disadvantage is that the loan takes longer to pay off.
- An advantage is that the borrower has more time to pay off the loan; a disadvantage is that the monthly payments increase.
A: An advantage is that the monthly payments are less; a disadvantage is that the loan is costlier in the long run.

Q: Which of the following would qualify you for the Public Service Loan Forgiveness Program?
- Working part-time for a public school system
- Working for AmeriCorps or the Peace Corps
- Working as a phlebotomist or certified nursing assistant
- Working for a private college or university
A: Working for AmeriCorps or the Peace Corps