Devry Coll148 Week 4 Quiz Latest 2015 November
1. Question
: (TCO 5) You can only use
Federal, Private, and Institutional loans to pay for college.
:
True
False
Question 2. Question
: (TCO 5) You must pay back
scholarships.
: True
False
Question 3. Question
: (TCO 5) When you are building
your credit, what can impact your credit score?
:
Late payments
The amount of time you have had credit
Bankruptcy
All of the above
None of the above
Question 4. Question
: (TCO 5) Each year, any
qualifying student is entitled to use federal credits for each tax year, but no
student can use more than one of them. What are the federal tax credits you can
take advantage of?
: A. American Opportunity Tax Credit (AOC)
B. Lifetime Learning tax credits
C. HOPE tax credit
D. Both B and C
E. Both A and B
Question 5. Question
: (TCO 5) Delinquency or default
on any type of debt tracked by the credit bureaus can and will negatively
impact your credit score.
:
True
False
Question 6. Question
: (TCO 5) The student portal
contains self-service resources that provide valuable information regarding
your Student Account and Financial Aid Awards, and is available 24/7 even after
the campus or contact center is closed.
:
True
False
Question 7. Question
: (TCO 5) Susan needs a
statement to provide to her employer as part of their tuition reimbursement
program. Where on the Student Finance tab would she go to find an itemized
statement for an individual session?
:
Student Account Summary
View Account Details
Student Account Action
Cannot be done in the portal and she would
need to contact an advisor
:
Question 8. Question
: (TCO 5) What can you
accomplish in the Student Account Center?
: Make or schedule a payment
Enroll in a payment plan
Enroll in direct deposit
All of the above
Question 9. Question
: (TCO 5) In which tab can you
find the contact information for your Student Support Advisor or Student
Finance Consultant?
: Help & Support
Home
Student Finance
Student Services
Question 10. Question
: (TCO 5) In order to complete a
student finance document, you must request the document from your advisor and
fax a completed copy to the university.
:
True
False
Instructor Explanation: There are several documents available for
electronic completion and signature via the Student Finance Tab in the Student
Portal. Simply click View More under the
Financial Aid Awards section and head to the Messages tab to view and complete
your documents. If a document is not
available for electronic signature, you will be able to download a PDF copy of
the document and can use the Upload Document feature to upload a copy of your
completed document instead of submitting via fax.
Question 11. Question
: (TCO 5) Where is your
borrowing status found in the Manage My Loans tool?
:
Overview tab
Loan Detail tab
Repayment Modeling tab
Resources tab
Question 12. Question
: (TCO 5) What does your
borrowing status indicate?
:
A. The loan borrowing status indicates your
federal student loan utilization in relation to your grade level progression.
B. The loan borrowing status indicates your
federal, private, and institutional loan utilization in relation to your grade
level progression.
C. Both A and B
D. None of the above
Question 13. Question
: (TCO 5) Your Estimated Monthly
Loan Repayment Obligation amount is representative of
: federal student loans.
private loans.
institutional loans.
All of the above
Question 14. Question
: (TCO 5) Your Estimated Monthly
Loan Repayment Obligation (found on the Overview tab) includes an estimate of
your Federal Loans. What federal repayment plan is used to calculate your
Estimated Monthly Loan Repayment Obligation?
: Graduated Plan
Extended Plan
Pay As You Earn
Standard Repayment Plan
Question 15. Question
: (TCO 5) In the Loan Detail tab
of Manage My Loans, you are able to manually enter Institutional Loan or
Private Loan information from other institutions you attended.
:
True
False
Question 16. Question
: (TCO 5) What percent of your
annual salary should you anticipate allocating to comfortably repay your
student loans?
: 25%–30%
8%–10%
40%– 50%
12%–15%
Question 17. Question
: (TCO 5) What is the plan we
use to calculate the Loan Repayment Obligation in which you pay the least
interest and have the shortest repayment period, and in which you will be
automatically enrolled in unless you request a transition to another repayment
plan?
: Income Based Repayment Plan
Extended Repayment Plan
Graduated Repayment Plan
Pay As You Earn Repayment Plan
Standard Repayment Plan
Question 18. Question
: (TCO 5) If you choose to
transition into the Pay As You Earn repayment plan, your eligibility is based
on your income and could make your payment more manageable.
:
True
False
Question 19. Question
: (TCO 5) The ability for you to
‘Edit’ the Repayment Details is in the Repayment Modeling section. This
information calculates the Repayment Plan Amounts for Standard, Pay As You
Earn, Extended, and Graduated. Fields
necessary to edit your repayment details include adjusted gross income, income
growth rate, **interest rate and ** number in household. If you make an edit,
the information will be retained for future logins. This is important because it
will allow you to see how your earnings impact your Direct and PLUS Loan
repayment plan eligibility and estimated repayment amounts.
:
True
False
Question 20. Question
: (TCO 5) How can you find the
definition for Aggregate Loan Limit in Manage My Loans?
: A. Google the definition.
B. Click on the Aggregate link in the
Overview tab.
C. Click on the Resources section on the
Overview link and search for Aggregate.
D. Both B and C
