Types of Costs
Loans
Financial Aid
Saving Money
Poverty
100

What is a fixed cost?

A cost that stays the same.

100

What type of neighborhoods are payday loans often in?

Lower income neighborhoods.

100

What are grants?

Free money for college that does not have to be paid back.

100

What is a budget?

Possible answers:  a way to keep track of your spending, a way to minimize debt, a way to keep track of  saving

100

What is generational poverty?

Poverty that is usually very hard to get out of and occurs when at least two generations have lived in poverty

200

What is a variable cost?

A cost that can change.

200

What is a loan?

Money that you eventually have to pay back, usually with interest.

200

What are federal loans?

Money that is borrowed from the government that has to be paid back with interest.

200

What is an emergency fund?

A savings account specifically for when emergencies happen.
200

What is situational poverty?

Poverty that is often short-term and caused by an unexpected crisis or loss

300

What is an irregular cost?

A cost that is either a surprise or does not happen monthly.

300

If you have to take out college loans, where would you get them at the lowest interest rate?

From the government (FAFSA).

300

What is work study?

Financial aid that gives you a job on campus.

300

What are some ways to save money?

Possible answers:  open a savings account, decrease your spending, use a budget

300

What are some things that can cause situational poverty?

Possible answers: a job loss, a death, a divorce, health conditions, and a natural disaster

400

What is an example of  a variable cost in a budget?

Possible answers: groceries, gas, utilities
400

What is interest?

The amount extra that you have to pay back when paying back a loan.

400

How often do you have to apply for financial aid?

Once a year (starts in October).

400

Why is having a checking account helpful?

Possible answers:  it protects your money, it allows you to purchase things that don't take cash, it helps you keep track of your spending
400

What are some things that can make it hard to get out of generational poverty?

Possible answers: lack of opportunities, lack of resources, and lack  of education

500

What is an example of a fixed cost?

Possible answers:  rent, subscriptions, insurance, loans

500

What are some ways payday loan businesses take advantage of people?

Possible answers: extra fees, make it easy to borrow money,  confusing terms of borrowing money

500

What does FAFSA stand for?

Free Application for Federal Student Aid

500

How can you minimize debt/save money in college?

Possible answers:  work at least part-time, pass classes so you don't have to retake and repay, rent or borrow textbooks, take classes at a community college, only take classes you need, talk to an advisor to make sure you are only taking needed classes

500

What are some stereotypes about those that live in poverty?

Various answers

M
e
n
u