Loan Quizzes & Trivia

Student Loan Pre-quiz – ProProfs Quiz

  • 1. 

    A loan was taken out in 2006 and is at present being serviced by Sallie Mae.  It is a

    • A.&nbsp

    • B.&nbsp

    • C.&nbsp

      Not certain; not sufficient info is given

  • 2. 

    A loan is taken out in 2011 and is being serviced by AES.  It is a

    • A.&nbsp

    • B.&nbsp

    • C.&nbsp

      Not certain; not sufficient info is given

  • 3. 

    Which of the next would have the bottom rate of interest?

    • A.&nbsp

      Subsidized Stafford loan taken out in January, 2012

    • B.&nbsp

      Unsubsidized Stafford loan taken out in January, 2012

    • C.&nbsp

      Perkins loan taken out in January, 2012

  • 4. 

    Which of the next would have the best rate of interest?

    • A.&nbsp

      Subsidized Stafford loan taken out in January, 2012

    • B.&nbsp

      Unsubsidized Stafford loan taken out in January, 2012

    • C.&nbsp

      Perkins loan taken out in January, 2012

  • 5. 

    If you’ve misplaced monitor of your federal student loans, you may be capable of find them by going to

    • A.&nbsp

      One of the three main credit bureaus

    • B.&nbsp

      The National Student Loan Data System

    • C.&nbsp

      The Consumer Financial Protection Bureau

    • D.&nbsp

    • E.&nbsp

  • 6. 

    The default possibility (i.e. what’s robotically assigned until you select in any other case) for Stafford  loan reimbursement size is:

    • A.&nbsp

    • B.&nbsp

    • C.&nbsp

    • D.&nbsp

  • 7. 

    For a federal Stafford loan, curiosity by no means accumulates throughout a deferment.

    • A.&nbsp

    • B.&nbsp

  • 8. 

    For a federal backed Stafford loan, curiosity doesn’t accumulate throughout forbearance.

    • A.&nbsp

    • B.&nbsp

  • 9. 

    Forbearance may be utilized retroactively.

    • A.&nbsp

    • B.&nbsp

  • 10. 

    A Stafford Loan usually goes into default as soon as a borrower is 180 days late.

    • A.&nbsp

    • B.&nbsp

  • 11. 

    READ:   Moving Overseas to Avoid Student Loans

    If one is enrolled within the Income Based Repayment plan (IBR), then they might qualify for forgiveness after how lengthy?

    • A.&nbsp

    • B.&nbsp

    • C.&nbsp

    • D.&nbsp

  • 12. 

    Which of the next would at all times meet the factors for Public Service Loan Forgiveness?

    • A.&nbsp

      Working as a janitor on the native public highschool

    • B.&nbsp

      Working as a pastor at a neighborhood church

    • C.&nbsp

      Working as an AMC at GreenPath

    • D.&nbsp

    • E.&nbsp

    • F.&nbsp

  • 13. 

    Which of the next fee plans would at all times meet the factors for Public Service Loan Forgiveness?

    • A.&nbsp

    • B.&nbsp

    • C.&nbsp

    • D.&nbsp

  • 14. 

    Which of the next loans would NEVER be eligible for Public Service Loan Forgiveness?

    • A.&nbsp

      Family Federal Education Loans

    • B.&nbsp

    • C.&nbsp

    • D.&nbsp

      Parent PLUS Loan (Student works for a non revenue; dad or mum doesn’t.)

  • 15. 

    If you miss one fee below Public Service Loan Forgiveness, you’ll lose your eligibility.

    • A.&nbsp

    • B.&nbsp

  • 16. 

    How many funds are wanted in a typical rehabilitation settlement?

    • A.&nbsp

    • B.&nbsp

    • C.&nbsp

    • D.&nbsp

  • 17. 

    The statute of limitations doesn’t apply for which of the next loans?

    • A.&nbsp

    • B.&nbsp

    • C.&nbsp

    • D.&nbsp

    • E.&nbsp

  • 18. 

    Consolidating a defaulted loan will erase any destructive marks on the credit report.

    • A.&nbsp

    • B.&nbsp

  • 19. 

    Which of the next loan packages are “first come, first served?”

    • A.&nbsp

    • B.&nbsp

    • C.&nbsp

    • D.&nbsp

  • 20. 

    Which of the next loans are based mostly on “financial need?”

    • A.&nbsp

    • B.&nbsp

    • C.&nbsp

    • D.&nbsp

    • E.&nbsp

    • F.&nbsp

    • G.&nbsp

  • 21. 

    Bonus Question!  Recent information tales have spoken of student loan rates of interest doubling.  What kind of loan are they referring to?

    • A.&nbsp

      Stafford unsubsidized loans

    • B.&nbsp

      Stafford backed loans

    • C.&nbsp

    • D.&nbsp

    READ:   A Guide to Subsidized and Unsubsidized Loans
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