Investing
What is the term for money earned from owning stock in a company?
What is a dividend?
This three-digit number helps lenders decide if you’re a good credit risk.
What is a credit score?
This type of student loan is offered by the federal government and usually has lower interest rates.
What is a federal student loan?
A bank account used to pay everyday expenses and often comes with checks or a debit card.
What is a checking account?
This government agency collects federal income taxes in the United States.
What is the IRS (Internal Revenue Service)?
This type of investment fund pools money from many investors to purchase a diversified portfolio.
What is a mutual fund?
This term refers to the total amount of money you owe on all your debts.
What is outstanding debt?
This type of loan accrues interest while the borrower is still in school.
What is an unsubsidized loan?
This type of account earns interest and is often used for storing money long-term.
What is a savings account?
This form is used by employees to report their annual wages and taxes withheld.
What is a W-2?
A Roth IRA allows you to grow your investments tax-free, but only if you follow this rule when withdrawing.
What is waiting until age 59½ and having the account for at least 5 years?
Paying only the minimum on your credit card may lead to this long-term consequence.
What is paying more in interest over time?
The government may forgive student loans for borrowers working in certain public sector jobs after a number of qualifying payments.
What is Public Service Loan Forgiveness (PSLF)?
The FDIC insures deposits in member banks up to this amount per depositor, per bank.
What is $250,000?
Claiming this can reduce your taxable income, lowering your tax bill.
What is a deduction?
This term describes the ups and downs in investment prices over time.
What is market volatility?
This type of debt is backed by collateral, like a house or car.
What is secured debt?
This document, completed annually, is required to determine eligibility for federal student aid.
What is the FAFSA (Free Application for Federal Student Aid)?
This is the fee banks may charge if you spend more money than you have in your account.
What is an overdraft fee?
This tax is levied on the earnings of self-employed individuals.
What is self-employment tax?
This index tracks the performance of 500 of the largest publicly traded companies in the U.S.
What is the S&P 500?
This federal law allows consumers to dispute inaccurate information on their credit reports.
What is the Fair Credit Reporting Act (FCRA)?
Combining multiple student loans into one new loan is known by this term.
What is consolidation?
The practice of linking multiple accounts to avoid overdrafts or to meet minimum balance requirements.
What is account linking or overdraft protection?
If you make too little money, you may qualify for this refundable tax credit for low- to moderate-income workers.
What is the Earned Income Tax Credit (EITC)?