AFTER HIGH SCHOOL
To apply for grants, work-study programs, and student loans for college or trade school, this is the essential free form you must fill out.
What is the FAFSA?
The first step in the problem-solving process before you can look for a solution.
What is identifying / defining the problem?
This is the official tax document sent to you by January 31st by your employer that summarizes your total earnings and taxes withheld for the previous year.
What is a W-2?
The quality of being honest and having strong moral principles, even when no one is watching.
What is integrity?
These specific types of financial aid for college is awarded based on merit or financial need and does not ever have to be paid back
What are scholarship and grant?
A creative technique where a group throws out as many ideas as possible without judgment to solve a problem.
What is brainstorming?
The total amount of money you earn on a paycheck before any taxes or deductions are taken out.
What is gross pay?
This type of communication includes body language, eye contact, and facial expressions rather than spoken words.
What is non-verbal communication?
Unlike federal student loans, these types of loans are issued by banks, often require a parent to co-sign, and usually carry much higher interest rates.
What are private student loans?
The ability to look at a situation objectively, analyze the facts, and make a logical judgment.
What is critical thinking?
When ordering on food delivery apps like DoorDash or UberEats, the final price is much higher than the menu price due to service fees, delivery fees, and tips. This is a classic example of these types of hidden expenses.
What is hidden cost or transaction fee?
The act of fully concentrating on what is being said, rather than just passively 'hearing' the speaker.
What is active listening?
When renting your first apartment, landlords will almost always require you to pay this one-time, upfront deposit to cover any potential damages you might cause to the property.
What is a security deposit?
This specific, structured type of goal is Specific, Measurable, Achievable, Relevant, and Time-bound.
What is a SMART goal?
Choosing to skip a $50 dinner out with friends so you can buy groceries for the entire week is a perfect example of evaluating this financial concept.
What is opportunity costs?
A person who takes the financial risk to start, organize, and manage a new business venture.
What is an entrepreneur?
This is the legally binding financial contract you sign with a landlord when renting an apartment that dictates your monthly rent and the rules of the building.
What is a leasing agreement?
When a group of diverse people works together toward a common goal, utilizing each other's strengths.
If you buy a fast food meal for $12 today, but that exact same meal cost $8 five years ago, you are experiencing this economic force that erodes the purchasing power of money.
What is inflation?
This federal agency enforces laws that protect employees from discrimination and harassment based on race, gender, or religion.
What is EEOC?