Responses
300
300
400
400
800
800
900
Which statement describes a risk of taking on debt? (1 point)
Responses
It allows you to buy things now and pay later.
It allows you to buy things now and pay later.
It does not affect your credit score if you pay it off in a timely manner.
It does not affect your credit score if you pay it off in a timely manner.
It could affect your ability to take out other loans.
It could affect your ability to take out other loans.
It might result in the interest rates on other loans to increase.
What is the word for a fee based on a percentage of money borrowed? (1 point)
Responses
collateral
collateral
credit
credit
debt
debt
Interest
Which method of paying for education must be repaid? (1 point)
Responses
grant
grant
scholarship
scholarship
student loan
student loan
work study
Which method of paying for education is offered to students based on merit? (1 point)
Responses
credit
credit
grant
grant
scholarship
scholarship
student loan
1 answer
Here are the correct answers to each of your questions:
Which of the following is an excellent credit score?
Answer: 800
Which statement describes a risk of taking on debt?
Answer: It could affect your ability to take out other loans.
What is the word for a fee based on a percentage of money borrowed?
Answer: Interest
Which method of paying for education must be repaid?
Answer: student loan
Which method of paying for education is offered to students based on merit?
Answer: scholarship
