COLL148 Heidy Budget Assessment

Description

COLL148 Heidy Budget Assessment

COLL148 Heidy Budget Assessment

A+ Week 2

Question 1.1.  My Estimated Costs: Based on Heidy’s preference to complete her program in 4 years, what is her estimated cost to complete the program? (Points : 3)

$67,690

$80,076

$85,00

$89,575

Question 2.2.  My Estimated Costs: What minimum level of enrollment does Heidy need to maintain to graduate in 4 years as planned? (Points : 3)

Less than half time (<6 hours)

Half time (6-8 hours)

Three-quarter time (9-11 hours)

Full-time (>12 hours)

Question 3.3.  My Estimated Costs: How much is Heidy borrowing each year in loans that have to be repaid after leaving school? (Points : 3)

$4,750

$6,000

$14,250

$21,285

Question 4.4.  My Estimated Costs: How much money does Heidy need to find from alternative sources, such as savings or scholarships, in order to have enough to cover her expenses each session?  (Points : 2)

$1750

$594

$1785

$7095

Question 5.5.  My Budget: After reviewing Heidy’s income and expenses on the My Budget tab, how much additional money does she need to cover her current expenses while in school? (Points : 2)

$200.00

$298.75

$347.00

None of the above

Question 6.6.  My Budget: Which of the following are wants (nice-to-have, non-essential goods and services) instead of needs (items that are necessary for everyday living)? (Points : 3)

Cable Television

Rent

Dining Out

Both A and C

Both B and C

Question 7.7.  My Dream Career: Even though Heidy plans to make $38,000 annually, how much will she actually have left to spend after taxes (Estimated net annual income after taxes)? (Points : 3)

$38,000

$35,093

$5,681.25

$27,511.75

Question 8.8.  My Dream Career: How much student loan debt will Heidy be responsible for once she completes her program? (Points : 3)

$57,000

$14,250

$80,364

None

Question 9.9.  My Dream Career: Which repayment plans offer Heidy a repayment amount she can afford based on her projections? (Points : 2)

Standard, Extended, Graduated, Income Sensitive

Income Sensitive, Income Based, Consolidated with Auto Debt

Standard, Consolidated with Auto Debt

Extended, Income Based, Graduated, Income Sensitive

Question 10.10.  My Dream Career: The National Student Loan Data System (NSLDS) website (http://www.nslds.ed.gov/) contains information on which of the following: (Points : 3)

Amounts of all federal loans the borrower has received

The status of each of the federal loans the borrower has received

Specific contact information for lenders and loan services

All of the above

Question 11.11.  My Dream Career: What web site should Heidy visit if she wants to consolidate her loans to make one payment? (Points : 3)

my.devry.edu

NSLDS.ed.gov

LoanConsolidation.ed.gov