Unit 5: Income/Education
Someone who works less than 30 hours a week is considered what type of employee?
Part-Time
lowest wage per hour that a worker may be paid, as mandated by federal and state law
What is the three-digit number that tells lenders how risky it is to loan you money?
Credit Score
These workers typically perform physical labor, such as construction or manufacturing.
Blue Collar
This account allows unlimited withdrawals and comes with a debit card.
Checking
a loan that has some asset pledged against the loan in case you don’t repay it
Secured Loan
This is the total amount of financial aid (federal and nonfederal) a student is offered by a college or career school
Financial Aid Package
This savings account allows a fixed amount of your money invested with the bank for a specific length of time
Certificate of Deposit
This type of credit Allows you to borrow over and over, up to an approved amount
Revolving Credit
This scholarship provider comes directly from the college to which you are applying and often includes both merit and need-based components
Institution Specific
This is the amount of money you take home - what’s on your paycheck
Net Pay
This law states that credit card applicants under age 21 must provide proof that they have income sufficient to make payments or have an adult cosign the application
Credit Card Act (2009)
This federal loan is available to undergraduate students with financial need, the US Department of Education pays the interest while you are still in school
Direct Subsidized Loan
This tax form Provides details on how much money you made working
W-2 Form
This is when a lender provides cash advances at a high cost to customers in exchange for one of their checks dated some time in the future
Payday Lending