1. Which of the following is true? a. My Direct Loan's interest rate is fixed based off the first
disbursement date of my loan and the rates are set yearly by
Congress.
b. My Direct Loan interest rate is based on my credit score.
c. My Direct Loan and Car Loans have identical terms and
conditions.
d. My Direct Loan's interest rate is variable and matches the
prime rate.
2. When you borrow Federal Loans you will be required to pay wh
of the following?
a. The loan disbursement amounts.
b. The Loan origination fees.
c. My accrued loan interest.
d. All of the above.
3. The Master Promissory Note (MPN):
a. Contains the rights and responsibilities for my student loan
b. Can never be revoked.
c. Must be signed each term.
d. Does not expire.