Quiz: How well do you know your student loan facts?
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Quiz: How well do you know your student loan facts?

Quiz: How well do you know your student loan facts?

You may have your heart set on going to university, but we all know how tuition fees can be a major hurdle to overcome.

While there are merit and needs-based scholarships offered by both the private and public sector, you may not qualify for them, or may only obtain a partial scholarship in some instances. So how do you cough up the remaining fees?

If you, like thousands of other students before you, are planning on financing your tertiary education via a student loan, you will need to ensure you understand what the loan entails.

Since the devil is in the details, let’s see how well you know your student loan facts with our quiz before you sign the dotted line.

1. What is a grace period?

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2. Is it possible to extend your student loan payment?

How-well-do-you-know-thy-student-loan-facts_1  How-well-do-you-know-thy-student-loan-facts_2  Source: Shutterstock

3. Which of the following is the best option if you are struggling to pay your student loan?

How-well-do-you-know-thy-student-loan-facts_1  How-well-do-you-know-thy-student-loan-facts_2  How-well-do-you-know-thy-student-loan-facts_3  Source: Shutterstock

4. What is a guarantor?

How-well-do-you-know-thy-student-loan-facts_1  How-well-do-you-know-thy-student-loan-facts_2  How-well-do-you-know-thy-student-loan-facts_3  How-well-do-you-know-thy-student-loan-facts_4  Source: Shutterstock

5. What is a loan forbearance?

How-well-do-you-know-thy-student-loan-facts_1  How-well-do-you-know-thy-student-loan-facts_2  How-well-do-you-know-thy-student-loan-facts_3  How-well-do-you-know-thy-student-loan-facts_4  How-well-do-you-know-thy-student-loan-facts_5  Source: Shutterstock

6. What happens if you default on your student loan?

How-well-do-you-know-thy-student-loan-facts_1  How-well-do-you-know-thy-student-loan-facts_2  How-well-do-you-know-thy-student-loan-facts_3  How-well-do-you-know-thy-student-loan-facts_4  How-well-do-you-know-thy-student-loan-facts_5  How-well-do-you-know-thy-student-loan-facts_6  Source: Shutterstock

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