Budget Basics
This is a plan for how you'll spend your money, often broken down into categories like housing, food, and entertainment.
What is a budget?
This type of financial aid is money you don't have to pay back, often awarded based on academic merit or financial need.
What is a grant or a scholarship?
This tax is taken out of a paycheck by your employer to pay for federal and state services.
What is income tax?
This is the center that helps currently enrolled UTD students with financial topics for free.
What is Comet Cents?
The two main types of expenses are fixed and this type is one which can change from month to month.
What are variable expenses?
This type of financial aid is a loan, meaning you will have to pay it back with interest after you graduate or leave school.
What is a student loan?
You must file this with the IRS each year to determine if you owe more in taxes or are due a refund.
What is a tax return?
The location of the Comet Cents Money Management Center.
What is MC 1.413?
This budgeting method involves dividing your income into three categories: needs, wants, and savings/debt.
What is the 50/30/20 rule?
This federal form is the main way to apply for financial aid, including grants, loans, and work-study.
What is the FAFSA (Free Application for Federal Student Aid)?
This form is provided by your employer and shows your annual earnings and the amount of taxes withheld from your pay.
What is a W-2 form?
This is the director of Comet Cents.
Who is Hillary Beauchamp Campbell
A small, unexpected cost that can quickly add up, like daily coffee or a streaming subscription, is often called a "____."
What is a money leak or a "latte factor"?
Working a part-time job on campus to help pay for school is part of this federal financial aid program.
What is Federal Work-Study?
The money you get back from the government when you've paid more in taxes than you owe is called this.
What is a tax refund?
This is the program that allows you to get discounts on various types of items (e.g., auto services, dining, entertainment, technology, health, and beauty) with the use of your Comet card.
What is the Comet Discount Program?
This is the amount of money you have left over after all your expenses have been paid.
What is disposable income?
The interest rate on a student loan is a percentage of the loan amount charged to the borrower. This is the period after you leave school before you must start making payments.
What is a grace period?
A student or their parents can often claim this on their taxes to reduce their taxable income, based on qualified education expenses.
What is an education tax credit or deduction?
This is the name of the podcast that Comet Cents hosts.
What is 'Change Matters'?