Most college students in the United States will graduate with a degree, but with that degree comes student debt. Most people keep up with the repayments and eventually pay it off, but what about if you’re struggling? It’s not uncommon for people to miss payments occasionally. Eventually this may become an issue, though. Take this short quiz and check how much you know about student debt and whether it will eat you alive or if you’ll survive.
What’s the highest rate of interest that you have on your loans?
Don’t worry; you’re not alone with debt. Approximately what portion of students do you think graduate and owe money on their student loans?
Can college loan deferment help people who are struggling with monthly payments?
What is the name of the most common student loan in the United States?
Did you shop around for your student loan or go for the first option?
Is it possible to go to college without having to pay?
After graduation, how long until students have to start paying back their debt?
How long after graduation did you start paying back your debt?
If you had $100,000 in student debt, with an 8 percent interest rate and a 10 year repayment plan, how much would your monthly payments be?
What could happen to you if you default on your student loan repayments?
How much of your earnings after graduation should you put towards paying your student loan debt?
What percentage of your earnings do you dedicate to paying your student debt?
What is the difference between private and government student loans?
Where can you find information about starting salaries for graduates?
What type of student loan can you get for grad school?
If everything goes to plan, and you stick to your repayments, how long should you have paid your loan back in?
What determines your ability to pay back student loans?
Is there anything that you use as an excuse to miss a student loan payment?
Have you had a loan deferral before?
What did you do before applying for your student loan?
Quiz: Will Your Student Debt Eat You Alive or Will You Survive?
Mostly As: You Need to Go Back to School!
You need to go back to school, or maybe you don’t because your student debt will probably eat you alive all ready! It seems you know little about student debt or how to manage it.
Mostly Bs: Fix Up! Before It’s Too Late
Things could be worse, they could be better too, however. You’re in a delicate position where things could go either way for you. Fix up, and survive your student debt. If you don’t, it’s likely to become unmanageable.
Mostly Cs: You’ve Got This Under Control!
It seems like you’re not only clued up about student debt, but you’re completely in control of yours.