Financial Aid 101
The form you need to fill out every year to reapply for college financial aid from the federal government:
What is the FAFSA?
Name of fund you should have available to cover unexpected expenses; and how much should it equal:
What is an emergency or “rainy day” account equal to between three and six months of your salary.
In regard to spending - Things that are nice to have, or satisfy some desire or urge
What are wants
A record of how a consumer has repaid credit obligations in the past; shows payment history, late payments, liens, debt forgiveness, bankruptcy filings, and number of inquiries by prospective lenders.
What is credit history and what it contains.
Duke University's Mascot
What is Blue Devil?
FAFSA Application can be submitted starting on this date
What is October 1st
Convenient way to spend money that is an alternative to checks or cash and is linked directly to bank account
What is a debit card
The ability to borrow money and pay it back, usually with interest
What is credit
Maintain credit histories and provide lenders with credit scores.
What do credit reporting agencies do?
Jon Scheyer
Who is Duke's basketball coach?
Money to pay for higher education that does not have to be paid back
What are grants and scholarships
If I make $10/hour and work 10/ week, why isn’t my weekly check $100?
What are taxes
What is the purpose of a budget
Track your spending and saving for your future
A nine-digit identification number unique to each individual
What is a social security number
Five (1991, 1992, 2001, 2010, and 2015)
How many times has Duke University won the NCAA National Basketball Championship?
Money that has to be paid back.
What is a loan
How much I have available to spend having fun?
What is a budget
Type of expenses that stay about the same each month.
What are fixed expenses?
An example of this is when a thief opens a new credit card account in your name and runs up charges
What is credit card fraud?
The athletic conference Duke plays their sports
What is the Atlantic Coast Conference (ACC)?
The cost of borrowing money.
What is interest
If I have $26 in my checking account and make a purchase of $26.03, what happens?
What is overdraft fee
The budgeting process start with this process
What is monitoring current spending
File a police report and get a copy for your files
What is an important step to take if you are the victim of Identity Theft
Duke University
Who is the second biggest employer in NC? Walmart is the biggest.