BUDGETING
Why is budgeting important?
It helps you save money and pay off what you owe.
What are LOANS?
Money you borrow
What's a credit borrower's responsibility?
Making payments on time
What's the loan repayment plan we recommend?
The SAVE Repayment plan.
What are the two categories you should separate your expenses into?
Need and Wants
$3,500
What are three benefits of credit?
Emergency funds, ability to buy a house/car, and helps build good credit.
What does "SAVE" stand for in the SAVE Repayment Plan?
The Saving on a Valuable Education
For how long is it recommended to track spending, in order to create a budget?
one month
Who's allowed to apply for a PLUS Loan?
Graduate students and parents of dependent students.
What is APR?
APR represents the annual cost of borrowing money
What's the best way to find which repayment plan works for you?
Loan simulator
What's the biggest advice given to loan borrowers?
Borrow what you need!
SAY and BBAY
How many times are you allowed to request a free credit report?
once a year
After missing a payment for more than how many days, does a person become a default?
270 Days