Credit
What is Credit?
Credit is the ability to borrow money or access goods or services with the understanding that you'll pay later.
What is FAFSA?
Free Application for Federal Student Aid (FAFSA®)
What is a budget?
A budget is a spending plan based on income and expenses.
You want to earn credits over the summer but do not want to pay university prices. What can you do?
Take classes at the local community college and transfer them in. Make sure that the credits will be accepted before enrolling in the course!
What age typically do you start building credit?
The minimum age to get a credit card and establish a credit score is 18; you CAN establish credit sooner.
What is the difference between a loan and a grant?
A grant, unlike a loan, does not have to be repaid.
What does it mean to get paid "bi-weekly"?
Pay checks are distributed every 2 weeks for a total of 26 pay checks per year.
You're having conflict with your roommate! You want to move now! Who do you speak with to help resolve the issues between you all?
Resident's Assistant (RA) RAs provide leadership to residents and help to create and maintain an accepting, respectful, and friendly atmosphere that stimulates student learning and development while living in the dorms.
What do you need to have good credit for?
To get cars (auto loan), rent an apartment, open a bank account-it helps potential lenders decide whether or not to offer you a loan of any kind
How can you receive financial aid from the government to cover college expenses?
You must file the FAFSA! Your eligibility for federal grants and loans is determined by your financial situation, reported through the FAFSA.
What does IRS stand for?
Internal Revenue Service-the agency responsible for collecting U.S. federal taxes
You have missed your 8am Statistics class 3 times in the start of the semester. You are worried you may not finish the class strong. What are your options? Who do you speak with?
-Identify the issue. Why is it difficult for you to make it to class? What can you do to get there on time and who can support you?
-If attending class regularly isn't realistic, speak with your teacher first to see if there is an alternative time/day for the class
-Speak with your counselor as well about an alternative time/day for the class or consider withdrawing from the class and replacing with needed another class. Be sure to ask about withdraw dates and penalties.
Where can you check your credit accurately?
You can access free copies of your credit report each year from agencies such as Experian and Equifax. You may also be able to see your credit score on your bank statement.
Who completes my FAFSA? and why?
Your and your parent/guardian will work together to complete the FAFSA, as it requires information from both of your tax returns.
What does it mean if you get paid "semi-monthly"?
Pay checks are distributed two times a month, usually on fixed dates such as the 1st and 15th, or the 15th and 30th; 24 pay checks per year
Oh no! You ran out of money from your book stipend but you need one more Physical Science book for the semester. What are your options?
-Order a used book or rent a book from Amazon, Chegg, etc.
-Purchase an e-book (if available)
-See if your college library has a copy to borrow
-Contact your professor to ask about other affordable options