Cdr, Forbearance, Deferment, Repayment

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Defaultpreventio

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Quizzes Created: 9 | Total Attempts: 1,958

Questions: 20 | Attempts: 558 | Updated: Mar 21, 2023

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Over the last week you have been introduced to Types of Student Loans, Key Players, Life Cycle of student loan and options to successfully repay student loans.

This quiz is designed to test your knowledge of topics discussed during your attendance of your first week of SLS New Hire Training.

You have been allotted 30 minutes to complete the quiz. Please review each answer prior to submitting as the online quiz will only allow you to submit the answer once and will provide the correct answer following your submission. Unanswered or blank submissions will be marked as Read moreincorrect.

WARNING: Timer may show you have X mins, X secs left. This DOES NOT reflect accurate time when you stop to read Answer Explanation. You will have time at the end of the Quiz to view Explanations for each answer.

This quiz contains True/False, fill in the blank, check all that apply and multiple choice questions.

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Questions and Answers

Cdr, Forbearance, Deferment, Repayment

The government will pay the interest on a borrower's subsidized loans while enrolled at least half-time, during the grace period and during deferment periods.

Unsubsidized loans are ___________.

You may choose to pay the interest on your unsubsidized loans while you are in school.

What types of loans accumulate interest?

You may prepay all or part of your loan(s) without a penalty.

In order to qualify for the extended repayment plan, you must have more than $_______ in outstanding student loan debt.

You can change repayment plans once a year to meet your financial needs, as long as you are not locked in.

Under the Standard Repayment Plan, you generally must pay at least __ per month for up to years.

If you do not receive a bill or repayment notice, you still must make your monthly payment.

The National Student Loan Data System (NSLDS) allows borrowers to view...

You may postpone or __________ your monthly payment for a specific period with a forbearance.

There are many conditions that may qualify for a deferment, including ____________.

(Check all that apply) Some consequences of allowing a student loan to default are _____________.

A student can consolidate one federal student loan.

(Check all that apply) The following repayment plans can be granted and applied over the telephone with the servicer.

(Check all that apply) The government will pay any unpaid interest up to three years on a subsidized federal student loan when the borrower has applied the following to his/her federal student loan:

A student has to be a graduate student to qualify for the Graduated Repayment Plan.

A student in jail may qualify for the Unemployment Deferment.

The U.S. Department of Education makes loans through the Direct Loan Program and the ______________ Program.

Danny withdraws from school. How many months of grace does Danny have until he is required to begin repayment on his Stafford loan?

Cdr, Forbearance, Deferment, Repayment

The government will pay the interest on a borrower's subsidized loans while enrolled at least half-time, during the grace period and during deferment periods.

Unsubsidized loans are ___________.

You may choose to pay the interest on your unsubsidized loans while you are in school.

What types of loans accumulate interest?

You may prepay all or part of your loan(s) without a penalty.

In order to qualify for the extended repayment plan, you must have more than $_______ in outstanding student loan debt.

You can change repayment plans once a year to meet your financial needs, as long as you are not locked in.

Under the Standard Repayment Plan, you generally must pay at least ________ per month for up to ______ years.

If you do not receive a bill or repayment notice, you still must make your monthly payment.

The National Student Loan Data System (NSLDS) allows borrowers to view...

You may postpone or __________ your monthly payment for a specific period with a forbearance.

There are many conditions that may qualify for a deferment, including ____________.

(Check all that apply) Some consequences of allowing a student loan to default are _____________.

A student can consolidate one federal student loan.

(Check all that apply) The following repayment plans can be granted and applied over the telephone with the servicer.

(Check all that apply) The government will pay any unpaid interest up to three years on a subsidized federal student loan when the borrower has applied the following to his/her federal student loan:

A student has to be a graduate student to qualify for the Graduated Repayment Plan.

A student in jail may qualify for the Unemployment Deferment.

The U.S. Department of Education makes loans through the Direct Loan Program and the ______________ Program.

Danny withdraws from school. How many months of grace does Danny have until he is required to begin repayment on his Stafford loan?

Under the Standard Repayment Plan, you generally must pay at least __ per month for up to years.