Answers CMS 2026-2027 Economics and Personal Finance CREDIT RECOVERY PretestQuestion 1

1

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Question 1 • CMS 2026-2027 Economics and Personal Finance CREDIT RECOVERY

One reason a student may seek a federal student loan instead of a private student loan is that

Answer

A

private loans are only available to parents, while federal loans may be issued to the student.

B

federal loans must be paid back more quickly than private loans.

C

private loans carry a higher interest rate than federal loans.

D

federal loans are obtained by banks, while private loans are backed by the government.

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