Following is an excerpt from a hypothetical conversation between Caroline Bloom, a college person, her financial aid counselor, and Caroline's parents, as they consider options for obtaining a loan to finance Caroline's higher education. Fill in the blanis to provide the correct information. COUNSELOR: Caroline, I understand that you wish to obtain a person loan to help with your graduate schoof studies. Let's take a look at a varlety of loans. The first thing we need to examine is vour eligibility, meaning that you CAROLINE: I understand that I expected to contribute some funds to pay for my educational expenses. COUNSELOR: That's right. And since you've completed your underaraduate studies, I need to confirm that you meet another requirement, which is that you must MR. BL.OOM: She's all sot there. Her mother and 1 took out a loan to help out with the undergraduate degree. Caroline doesn't, have any outstanding debt. COUNSELOR: Good. Then let's talk about paying back the loan you'l take out, Caroline. Are you aware of the general terms regarding interest and timing of repayment? CAROLINE: 1 think 50. Interest will not start to accrue until and repaying the loan isn't scheduled to begin until because this loan is COUNSELOR: Okay. Because it has the lowest interest rate and highest borrowing fimit, I think 1 if recommend you apply for a loan. But one word of caution: Regardless of what kind of loan you take out, it's easy to build up debt not only while in school but afterwards, even with the good job your education should help you obtain. - legisiation was passed ruling that you from the responsibility to repay person toans. CAROLINE: Thank you for the information, advice, and warningst i'm looking forward to starting the next phase of my education. COUNSELOR: Caroline, 1 understand that you wish to obtain a person loan to help with your graduate school studies: Let's take a look at a variety of loans. The first thing we need to examine is your eligibiifty, meaning that you icted to contribute some funds to pay for my educational expenses. CAROLINE: I understand that I expected to contribute some funds to pay for my educational expenses. COUNSELOR: That's right. And : I completed your undergraduate studies, I need to confirm that you meet another requireme COUNSELOR: That's right. And since you've completed your undergraduate studies, I need to confirm that you meet another requirement, which is that you must MR. BL.OOM: 5he's a loan to help out with the undergraduate degree. Carolifie doesn't MR. BLOOM: She's all set there. Her mother and I took out a loan to help out with the undergraduate degree. Caroline doesn't have ary outstanding debt. COUNSELOR: Good. Then let's talk about paying back the loa out, Caroline. Are you aware of the general terms regarding interent: and timing of repayment? CAROLINE: 1 think so. Interest will not start to accrue until. and repaying the loan isn't scheduled to begin until because this loan is: COUNSELOR: Okay. Because it has the lowest interest rate of CAROLINE: 1 think so. Interest will not start to accrue until to begin until to begin until. COUNSELOR: OK= get out of school my parents finish paying the loan they took out to fund my undergrad work this loan is I get any job after earning my degree it's easy to build up debt not only whille in school CAROUTNE: I think so: interest will not start to accrue until and repaying the loan isn't scheduled to begin until bocause this loan is thas the lowest interest rote and highest borrowing limit, I think I'll recommend you apply for a ne word of caution: Regardless of what kind of Ioan you take out, it's easy to build up debt not only while in school the good fob your education should help you obtain. , legisiation was passed ruline that COUNSELOR: Okay. Because it has the lowest interest rate and highest borrowing limit, 1 think III recommend you apply for a loan: But one word of caution: Regardless of what kind of loan you take out, it's easy to build up debt not only while in schoo 15. even with the good job your education should help you obtain. - legislation was passed ruling that you from the responsibility to repay person foans. CA nk you for the information, advice, and wamingst I'm looking forward to starting the next phase of my education. COUNSELOR: OKay, Because it has the fowest interest rate and highest borrowing limit, I think I'll recommend you apply for a loan. But one word of caution: Regardless of what kind of loan you take out, it's easy to build up debt not only while in school but afterwards, even with the good fob your education should help you obtain. - legisiation was passed ruling that Sponsbility to repay persion loans. CAROUINE: Thank you for the information, advice, and wamings: I'm looking forwa it rate and highest borrowing limit, 1 think inl recommend you apply for a gardless of what kind of loan you take out, it's easy to build up debt not only while in school ation should heip you obtain. , legislation was passed rulling that you from the responsibility to repay person foans. CAROL1NE: Thank you for the information, advice, and warningst I'm looking forward to starting the next, phase of my education. COUNSELOR: Okay. Because it has the lowest interest rate an I limit, I think I'll recommend you apply for a loan. But one word of caution: Regardiess 1 you take out, it's easy to build up debt not only while in schoof but afterwards, even with the good job your education sho: legislation was passed ruling that you from the responsibility to repay person loans. Following is an excerpt from a hypothetical conversation between Caroline Bloom, a college person, her financial aid counselor, and Caroline's parents, as they consider options for obtaining a loan to finance Caroline's higher education. Fill in the blanis to provide the correct information. COUNSELOR: Caroline, I understand that you wish to obtain a person loan to help with your graduate schoof studies. Let's take a look at a varlety of loans. The first thing we need to examine is vour eligibility, meaning that you CAROLINE: I understand that I expected to contribute some funds to pay for my educational expenses. COUNSELOR: That's right. And since you've completed your underaraduate studies, I need to confirm that you meet another requirement, which is that you must MR. BL.OOM: She's all sot there. Her mother and 1 took out a loan to help out with the undergraduate degree. Caroline doesn't, have any outstanding debt. COUNSELOR: Good. Then let's talk about paying back the loan you'l take out, Caroline. Are you aware of the general terms regarding interest and timing of repayment? CAROLINE: 1 think 50. Interest will not start to accrue until and repaying the loan isn't scheduled to begin until because this loan is COUNSELOR: Okay. Because it has the lowest interest rate and highest borrowing fimit, I think 1 if recommend you apply for a loan. But one word of caution: Regardless of what kind of loan you take out, it's easy to build up debt not only while in school but afterwards, even with the good job your education should help you obtain. - legisiation was passed ruling that you from the responsibility to repay person toans. CAROLINE: Thank you for the information, advice, and warningst i'm looking forward to starting the next phase of my education. COUNSELOR: Caroline, 1 understand that you wish to obtain a person loan to help with your graduate school studies: Let's take a look at a variety of loans. The first thing we need to examine is your eligibiifty, meaning that you icted to contribute some funds to pay for my educational expenses. CAROLINE: I understand that I expected to contribute some funds to pay for my educational expenses. COUNSELOR: That's right. And : I completed your undergraduate studies, I need to confirm that you meet another requireme COUNSELOR: That's right. And since you've completed your undergraduate studies, I need to confirm that you meet another requirement, which is that you must MR. BL.OOM: 5he's a loan to help out with the undergraduate degree. Carolifie doesn't MR. BLOOM: She's all set there. Her mother and I took out a loan to help out with the undergraduate degree. Caroline doesn't have ary outstanding debt. COUNSELOR: Good. Then let's talk about paying back the loa out, Caroline. Are you aware of the general terms regarding interent: and timing of repayment? CAROLINE: 1 think so. Interest will not start to accrue until. and repaying the loan isn't scheduled to begin until because this loan is: COUNSELOR: Okay. Because it has the lowest interest rate of CAROLINE: 1 think so. Interest will not start to accrue until to begin until to begin until. COUNSELOR: OK= get out of school my parents finish paying the loan they took out to fund my undergrad work this loan is I get any job after earning my degree it's easy to build up debt not only whille in school CAROUTNE: I think so: interest will not start to accrue until and repaying the loan isn't scheduled to begin until bocause this loan is thas the lowest interest rote and highest borrowing limit, I think I'll recommend you apply for a ne word of caution: Regardless of what kind of Ioan you take out, it's easy to build up debt not only while in school the good fob your education should help you obtain. , legisiation was passed ruline that COUNSELOR: Okay. Because it has the lowest interest rate and highest borrowing limit, 1 think III recommend you apply for a loan: But one word of caution: Regardless of what kind of loan you take out, it's easy to build up debt not only while in schoo 15. even with the good job your education should help you obtain. - legislation was passed ruling that you from the responsibility to repay person foans. CA nk you for the information, advice, and wamingst I'm looking forward to starting the next phase of my education. COUNSELOR: OKay, Because it has the fowest interest rate and highest borrowing limit, I think I'll recommend you apply for a loan. But one word of caution: Regardless of what kind of loan you take out, it's easy to build up debt not only while in school but afterwards, even with the good fob your education should help you obtain. - legisiation was passed ruling that Sponsbility to repay persion loans. CAROUINE: Thank you for the information, advice, and wamings: I'm looking forwa it rate and highest borrowing limit, 1 think inl recommend you apply for a gardless of what kind of loan you take out, it's easy to build up debt not only while in school ation should heip you obtain. , legislation was passed rulling that you from the responsibility to repay person foans. CAROL1NE: Thank you for the information, advice, and warningst I'm looking forward to starting the next, phase of my education. COUNSELOR: Okay. Because it has the lowest interest rate an I limit, I think I'll recommend you apply for a loan. But one word of caution: Regardiess 1 you take out, it's easy to build up debt not only while in schoof but afterwards, even with the good job your education sho: legislation was passed ruling that you from the responsibility to repay person loans