Home > Financial Literacy > Quizzes > EverFi Module 5 - Higher Education Funding
EverFi Module 5 - Higher Education Funding
Fast practice, instant feedback. Timer auto-submits when time’s up.
Avg score: 76% • Most missed: “Advantage of Borrowed Money”
EverFi Module 5 - Higher Education Funding
Time left 00:00
25 Questions

1. Student Loan where Interest Rates are FIXED and Interest Rates are usually LOWER.

2. What are the 4 types of Higher Education?

3. Advantage of using SAVINGS or 529 College Savings Plan

4. What are the two major types of loans available for students applying to college?

5. What is ROI?

6. Amount of time you have to pay back the balance of loan before it starts accusing interest.

7. Another common federal student loan. These loans have a set 5% interest rate and a 10 year repayment period.

8. Must apply for these and are not repaid. Awards are based on merit, financial need and/or a combination of the two.

9. What are the 3 different ways to pay for higher education?

10. Most common type of federal loan awarded based on limits that are set for any individual loan as well as financial need.

11. Advantage of Federal Student Loans

12. What is FAFSA?

13. Why is ROI important?

14. Financed by private companies rather than government. Since these interest rates and fees aren't capped by government- they cost more.

15. Advantage of Grants and Scholarships

16. Do you need your or your parents tax info to apply for federal loans or grants?

17. Amount of time given to an individual to pay back the money lent.

18. Type of federal student loan which government does not pay the interest while student is in school.

19. Type of federal student loan which the government pays the interest that accrues while student is in school.

20. Loan that is available to students who have FINANCIAL NEED or Some are available REGARDLESS of NEED

21. Given to students to help pay for education and don't have to be repaid. Similar to scholarships.

22. Advantage of Work-Study Programs

23. Student Loan where Interest Rates can CHANGE (Variable) and the Interest Rates are HIGHER. Available to EVERYONE

24. Advantage of Borrowed Money

25. Where is the ONLY place you can apply for the Federal Work Study Program?

⚡ Recently practiced quizzes in this topic
Live quiz activity
Personal Finance: The Financial Planning Process Personal Finance: Cash or Liquid Asset Management Personal Finance Literacy Exam 4 Personal Finance: Life and Health Insurance FBLA Personal Finance Review Personal Finance Literacy Exam 6 Financial Literacy Quiz Financial Literacy Vocab Certified Personal Finance Counselor Banking Basics Knowledge Test
 
❤ If you liked Fatskills, consider supporting us by checking out The Life Manuals You Never Got.

🌈  Our mission is to help improve your scores in any subject and exam withonline quizzes, practice tests, study guides, & advice for students. Since 2018.
About | Explore | User Guide | Topics | Subjects | Doubt Solver | Career Aptitude Test | Answers | Free Tools | OSHA Basics Quiz | What Should We Know?
Privacy | Terms |
Without work one finishes nothing. - Ralph Waldo Emerson
© 2026 Fatskills.com

All trademarks, logos and brand names are the property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, trademarks and brands does not imply endorsement.