Definitions #1
The ability to understand and effectively use various financial skills, including personal financial management, budgeting, and investing.
What is Financial Literacy?
These are an example of free aid. These are distributed based on merit or other factors.
What are Scholarships?
It is okay to cut out necessities such as food, water, and shelter when it comes to budgeting. TRUE or FALSE?
What is False?
Federal Student (BLANK) & Private Student (BLANK) are two major WHAT?
What are LOANS you can get for educational purposes?
The process of establishing a plan for your finances.
These are awarded to students and families based on their financial needs.
What are Federal Grants?
Wally, YNAB, Good Budget, Personal Capital, Pocket Guard, and Mint are examples of these.
What are examples of Budgeting Applications?
The federal government will cover the interest during certain periods for this loan.
What is a subsidized student loan?
Once a year for free you can request this.
How many times can I request a free credit score a year?
This is how much you make a year or a month before taxes.
What is your Annual or Monthly Gross Income?
Subsidized, Unsubsidized, Direct PLUS, and Direct Consolidation are different kinds of these.
What are Federal Student Loans?
Finding a Home, Auto Loans, Employment, Business Loans, and Living Expenses are examples of showing "WHAT" is important?
What are some examples that show CREDIT is important?
The loan borrower is responsible for the interest that accrues during all periods for this loan.
What is an unsubsidized student loan?
Federal Grants, Scholarships, and Federal Work Study are three ways to avoid WHAT?
What are three ways to avoid Student Loan Debt?
It is a statistical analysis performed by lenders and financial institutions to determine a persons' or small owned operated business's credit worthiness.
What is a Credit Score?
These are offered by a college based on prior academic performance- like your GPA or standardized test scores (ACT or SAT).
What is a Merit-Based Scholarship?
Payment History, Amounts Owed, Credit History Length/Age, Credit Mix or Types of Credit, and New Credit can impact WHAT?
What can impact your CREDIT SCORE?
This loan is meant to fill a gap between the cost of attendance and available resources if you still need money to pay for your education after borrowing your maximum limit of unsubsidized and subsidized loans.
What is a Direct PLUS loan?
700-850 is considered an excellent "WHAT" score?
What is considered an excellent credit score?
This provides part-time jobs to students that allow them to earn money and help pay for education expenses.
What is a Federal Work Study?
Bills, Rent, and Subscriptions are examples of these.
What are regular monthly expenses?
What are ways to improve your credit?
This loan allows borrowers to combine all eligible federal student loans into a single loan- which is usually done after leaving school.
What is a Direct Consolidation Loan?
When your payment is late, you go over your credit limit, and your credit card company merges with another company, what can increase?
What can increase your interest rate?