Understand your student loan repayment options: test your skills
Federal and private loans work differently. Federal repayment options changed on 1 July 2026 — know which loans you have first. Answer each question to see the explanation; your score appears at the end.
This test checks that you can
- Tell federal and private loans apart
- Know where to check federal plans
- Direct extra payments to the costliest loan
- Practice
1. Where do you see your federal student loans?
- Practice
2. Which loans usually have federal repayment plans?
- Practice
3. Extra payments save the most interest on…
- Key idea
4. Which statement best explains "Federal and private differ"?
- Key idea
5. Which statement best explains "Rules changed in 2026"?
- Key idea
6. Which statement best explains "Call early"?
- Action plan
7. In the action plan, which step comes first?
- Mistake to avoid
8. Which of these is a mistake this lesson warns against?
- Mistake to avoid
9. Which of these is a mistake this lesson warns against?
A $9,000 loan at 6% APR. Roughly how much interest accrues in one month?
Show the answer
$45
$9,000 × 0.06 ÷ 12 = $45.
Log in to StudentAid.gov and write down your servicer and current repayment plan.
More tests in this bootcamp
- Judge debt by its purpose, rate and total cost
- Choose a debt payoff plan: avalanche or snowball
- Compare debt consolidation without missing the fees
- Use credit cards without carrying interest
- Understand what moves your credit score
- Check your credit report and question errors
- Protect your identity and know the recovery steps
- Respond to debt collectors with records and confidence
- Understand your student loan repayment options
- Compare car loans beyond the monthly payment
- Decode your mortgage payment: principal, interest, taxes and insurance
- Final exam: Debt and credit