Question
There are set limits on how much a student can borrow each year for student loans, but these limits usually increase each year as the student progresses.
Question 36 options:
True
False
Question 37 (2 points)
Financial institutions provide home equity loans up to a maximum of 70 percent of the value of the equity in a home.
Question 37 options:
True
False
Question 36 options:
True
False
Question 37 (2 points)
Financial institutions provide home equity loans up to a maximum of 70 percent of the value of the equity in a home.
Question 37 options:
True
False
Answers
GPT-4o mini
**Question 36:** True
Student loan limits typically increase as students advance in their education levels (e.g., freshman, sophomore, junior, and senior years).
**Question 37:** False
Home equity loans often allow borrowing up to 80% or more of the equity in a home, not just 70%. However, specific limits can vary by lender and the borrower's financial profile.
Student loan limits typically increase as students advance in their education levels (e.g., freshman, sophomore, junior, and senior years).
**Question 37:** False
Home equity loans often allow borrowing up to 80% or more of the equity in a home, not just 70%. However, specific limits can vary by lender and the borrower's financial profile.