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Name: _________________________Student Loans HYPERLINK "" are Direct Loans? What are 3 things you can do with Direct Loans?How do you apply for Direct Loans?Name the different repayment plan options and state 1 thing that will help you remember the differences.What is the name of the payment plan that most students repay their loans with? Why do you think they choose this plan?Define the following in your own words:Subsidized Loan – Unsubsidized Loan – PLUS Loan – Consolidation Loan –What are the current interest rates?What is the maximum amount you can borrow in your first year of college in a Direct Stafford Loan?Once you graduate, how long is the grace period in which you are not required to make loan payments?What can you do if you have multiple federal education loans to make repayment easier?What are 3 options to choose from if you’re having trouble making payments on your student loans?What are 2 consequences of going into default on your loans?What are the eligibility requirements for private student loans (undergraduate)?How long can you take to repay private student loans?What does it mean to have your payments deferred?What are the current interest rates (variable and fixed)?Complete the chart below, then answer: Which loan would be best for you and WHY? Consider whether you think you will qualify for federal student aid or if your parents will help you pay for school when writing your answer. Federal Direct LoansFederal Direct PLUS LoansPrivate Student LoanBorrowerLenderAnnual Loan LimitInterest RateDiscount for Automated PaymentsRepayment Time TableFAFSA Required?Credit Check Required?Co-Signer Required?Satisfactory Academic Progress Required?Based off of the video: Broke, Busted, and Disgusted please answer the following questions:Define interest and principal and then explain how they are paid off when it comes to loan repayment:Define Apprenticeship and explain how they work:Name a couple ways you can reduce the amount of loan debt you owe while you’re in school in order to reduce the amount you owe after you graduate. ................
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