Debt
Making only the minimum payment on this type of card can keep you in debt for a longer time.
What is a credit card
This type of loan is typically repaid after a student graduates or leaves college.
What is a student loan
People get this to protect themselves from large, unforeseen expenses
What is insurance
What is a type of money that is given to you do not have to pay back
What is a scholarship or grant?
What three classes does Mr. A teach?
What is: AP European History, Economics, and Human Geography?
What is a perfect credit score?
850
This is the portion of a home's value that you have paid for and own
What is equity
If a contract is not in writing, is it still valid?
YES, it is legally binding.
Which purchase is most likely to be paid in installments?
-Car
-house
-Phone
Mr. A's discretion
What two sports does Mr. A coach?
What is Track and Cross Country?
This is the risk of taking on too much consumer debt
What is a lower credit score
This type of mortgage is risky because the interest rate can change and increase over time.
What is an adjustable-rate mortgage
This is the amount you pay for covered medical services before your insurance company starts to pay
What is a deductible
This is a term for multiple payments over time, often used for large purchases like a car.
What are installments?
How many years has Mr. A been teaching for?
What is 2 years?
This is the most important factor in determining your credit score
What is payment history
One way to save on student loans is to pay this while still in school.
What is the interest
With a coinsurance of 30% it means.
You pay 70% of the bill, and insurance pays 30% of the bill.
Is it better to have a higher or lower interest rate on loans?
What is lower?
What high school did Mr. A go to?
What is Leyden?
A business startup loan or a mortgage on an investment property are examples of this type of debt
What is not consumer debt
This type of loan typically has 600%-800% interest
What is a payday loan?
The highest amount you will have to pay for covered services in a plan year is called this.
What is the out-of-pocket maximum?
A key feature of this kind of lender is offering guaranteed approval regardless of credit history.
What is a predatory lender
What two sports did Mr. A play in high school?
What is soccer and Track & Field?