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    Minnesota SELF Counseling Loan Quiz Answers

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    Minnesota SELF Loan Quiz Answers...submitted Aug 25, 2010. "1. The SELF Loan is available through: A. The federal government B. Your local bank *C. The Minnesota Office of Higher Education D. All of the above E. None of the above 2. To be eligible for a SELF Loan you must: A. Be enrolled at least half-time at a SELF participating school B. Be making satisfactory academic progress C. Provide a credit-worthy co-signer *D. All of the above E. None of the above 3. The interest rate on my SELF Loan may change: A. Daily B. Weekly C. Monthly *D...."

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    Minnesota SELF Counseling Loan Quiz Answers

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    Minnesota SELF Loan Quiz Answers...submitted Aug 25, 2010. "1. The SELF Loan is available through: A. The federal government B. Your local bank *C. The Minnesota Office of Higher Education D. All of the above E. None of the above 2. To be eligible for a SELF Loan you must: A. Be enrolled at least half-time at a SELF participating school B. Be making satisfactory academic progress C. Provide a credit-worthy co-signer *D. All of the above E. None of the above 3. The interest rate on my SELF Loan may change: A. Daily B. Weekly C. Monthly *D...."

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    Minnesota SELF Loan Quiz Answers...submitted Aug 25, 2010. "1. The SELF Loan is available through: A. The federal government B. Your local bank *C. The Minnesota Office of Higher Education D. All of the above E. None of the above 2. To be eligible for a SELF Loan you must: A. Be enrolled at least half-time at a SELF participating school B. Be making satisfactory academic progress C. Provide a credit-worthy co-signer *D. All of the above E. None of the above 3. The interest rate on my SELF Loan may change: A. Daily B. Weekly C. Monthly *D...."

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    685 views2 pages

    Minnesota SELF Counseling Loan Quiz Answers

    Uploaded by

    a6587055
    Minnesota SELF Loan Quiz Answers...submitted Aug 25, 2010. "1. The SELF Loan is available through: A. The federal government B. Your local bank *C. The Minnesota Office of Higher Education D. All of the above E. None of the above 2. To be eligible for a SELF Loan you must: A. Be enrolled at least half-time at a SELF participating school B. Be making satisfactory academic progress C. Provide a credit-worthy co-signer *D. All of the above E. None of the above 3. The interest rate on my SELF Loan may change: A. Daily B. Weekly C. Monthly *D...."

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    SELF loan quiz

    1. The SELF Loan is available through:


    A. The federal government
    B. Your local bank
    *C. The Minnesota Office of Higher Education
    D. All of the above
    E. None of the above
    2. To be eligible for a SELF Loan you must:
    A. Be enrolled at least half-time at a SELF participating school
    B. Be making satisfactory academic progress
    C. Provide a credit-worthy co-signer
    *D. All of the above
    E. None of the above
    3. The interest rate on my SELF Loan may change:
    A. Daily
    B. Weekly
    C. Monthly
    *D. Quarterly
    E. Annually
    4. The SELF IV interest rate is:
    A. Tied to the 13-week Treasury Bill rate
    B. Tied to the prime interest rate
    *C. Tied to LIBOR rate
    D. Set by the federal government
    5. When I am in school, I must pay interest:
    A. Monthly
    *B. Quarterly
    C. Not at all
    6. If I transfer to a non-SELF participating school, my in-school status will en
    d.
    *True
    False
    7. The SELF Loan is subsidized by the federal government.
    True
    *False
    8. My loan will enter repayment:
    A. 6 months after I leave school
    B. One year after I leave school if I select the Standard Payment Option
    C. Three years after I leave school if I select the Extended Interest Option
    D. A and C
    *E. B and C
    9. If I select the Extended Interest Option, I will have:
    A. An additional two years to repay my loan.
    *B. An additional two years of interest-only payments.
    C. A and B
    D. None of the above
    10. The maximum repayment term on my SELF IV Loans if I owe less than $18,750 is:
    *A. 10 years from when I leave school
    B. 20 years from when I leave school
    C. 15 years from when I leave school
    D. 25 years from when I leave school
    11. There are no deferments on the SELF Loan.
    *True
    False
    12. If I repay my SELF Loan early, I will incur a penalty.
    True
    *False
    13. The SELF Loan can be consolidated with my federal loans.
    True
    *False
    14. The minimum monthly payment on all my SELF Loans is:
    A. $5.00
    B. $25.00
    *C. $50.00
    D. $100.00
    15. If I enroll at least half-time in a SELF school and I am not in a required r
    epayment status, I can return to the in-school status within how many years afte
    r I leave school?
    A. Five years
    B. Ten years
    *C. Three years
    D. None of the above
    16. If I have a question about my SELF Loan account, I should first contact:
    A. My school
    B. The Minnesota Office of Higher Education
    *C. Firstmark Services
    D. None of the above
    17. If I move or change my address, I need to contact Firstmark Services.
    *True
    False
    18. If I default on my SELF Loan, it could affect my ability to:
    A. Purchase a house
    B. Purchase a car
    C. Obtain Minnesota State Grants
    *D. All of the above
    19. I won't need to repay my SELF Loan if:
    A. The school closes
    B. I don't get a job in the subject I studied in
    C. I am not satisfied with the quality of my education
    D. All of the above
    *E. None of the above
    20. If my SELF Loan goes into default, which of the following actions can be tak
    en against me and my co-signer:
    A. File tax claims
    B. Take legal action
    C. Report to the credit bureau
    D. Add collection fees
    *E. All of the above

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