What is the range of a credit score (worst to best)?
What is a 529 plan?
A 529 plan is an investment account that offers tax benefits when used to pay for qualified education expenses for a designated beneficiary.
Savings vs Checking account
Checking Account allows deposits and withdrawals of money; usually used for regular purchases
Savings Account earns interest for money saved up
Whats's the difference: assets vs liabilities
assets make you money
liabilities lose you money
How many admin are at UHHS?
4
35% of Credit score
payment history
Difference between loan vs grant
loan= money you pay back
grant = money you do not have to pay back
Difference between a brick and mortar and an internet bank?
Physical locations vs mostly online access
What is a subprime loan?
“Subprime” refers to the below-average credit score of the individual taking out the mortgage, indicating that they might be a credit risk
How many clubs are at UHHS?
102 (and counting)
What is APR?
Annual percentage rate (APR) refers to the yearly interest generated by a sum that's charged to borrowers or paid to investors
What is FAFSA?
The Free Application for Federal Student Aid is a form completed by current and prospective college students in the United States to determine their eligibility for student financial aid
What 4 documents do you typically need to open a banking account?
- Social Security Card
-Driver's License (or State ID)
-Money
-Paystub
How do you determine your net worth?
Net worth is the value of all assets, minus the total of all liabilities
How many countries has Donald visited?
41 (and counting)
What happens if you only pay your minimum on your monthly credit card bill?
You will avoid a late fee but will be charged interest on the remaining balance. This means you will owe more money over time.
What are the four types of schools available after HS?
-Trade School
-Community College
-State University/ College
-Private University/ College
What is overdraft protection?
Overdraft protection is an optional service that prevents the rejection of charges to a bank account
What is Compound interest?
Compound interest is the interest you earn on interest. Compound interest is the interest on savings calculated on both the initial principal and the accumulated interest from previous periods.
How old is UHHS?
35 years
# benefits of having a higher credit score?
-More lending options
-More affordable rates
-Easier renting
how does an associate's degree save someone money for college?
Complete associate's degree at community college that's cheaper than transfer to a 4-year university.
What 5 investment strategies where mentioned in this module?
Bonds, Stocks, Mutual Funds, Index Funds, and Exchange-Traded Funds (ETFs)
Bonds vs. Stocks: What's the Difference?
While stocks are ownership in a company, bonds are a loan to a company or government.
What is our school motto?
"A high school that feels like a college"