Rather than discarding old mail, checkbooks and credit cards in the trash, what should one do?
What is shred, burn, cut or otherwise destroy
100
Mount Holyoke's new financial aid application deadline.
What is February 1st
100
The term for the type of loans on which the College or the government pays the interest on while you are in school and during approved deferment periods
What is subsidized
100
An ______ interest rate that fluctuate from month to month based on market trends
What is variable
100
What is the annual federal income tax filing deadline?
What is April 15th
200
To minimize the amount of information an identity thief can steal, which of the following should you NOT carry in your wallet, purse or backpack unless you absolutely have to?
a) birth certificate
b) social security card
c) passprt
d) all of the above
What is d) all of the above
200
You can’t receive student loans without signing this document. It states the repayment terms of your student loans and acts as your written commitment to repay the money you borrowed, plus interest.
What is a promissory note
200
According to general borrowing guidelines, monthly loan repayments should not exceed______% of your monthly after-tax income.
What is 10%
200
A credit card is an example of (non-revolving/revolving) credit
What is revolving
200
True or False:
There are tax credits and deductions available to college students and their parents for the amounts paid towards the cost of education.
What is true
300
When creating passwords and PINs (personal identification numbers), what information should you avoid using that could easily be discovered by an identity thief?
a) the last 4 digits of your social security number
b) your birthdate
c) your middle name
d) all of the above
What is d) all of the above
300
Financial aid eligibility is determined based on the difference between the cost of attendance and the...
What is Expected Family Contribution (EFC)
300
The standard length of time it takes to repay undergraduate student loan debt
What is 10 years
300
True or False:
Payment history and credit balance are the two factors that most heavily impact your credit score.
What is true
300
The amount of support you must provide to be able to claim someone as a dependent for tax purposes:
a) 50%+
b) $10000
c) It doesn't matter as long as they live in your household
d) It doesn't matter as long as you are their legal parent/guardian and they are under the age of 24
What is a) 50%+
400
The term for identity thieves posing as a legitimate business to gain access to your personal or confidential information by email.
What is phishing
400
Which of the following is not one of the factors used to calculate financial aid eligibililty?
a) Income
b) Assets
c) Consumer debt
d) Household size
e) Number in college
What is c) consumer debt
400
Combining multiple student loans into one new loan held by a single lender is called…..?
What is consolidation
400
Which of the following is not one of the 5 sections of a credit report?
a) Personal information
b) Public record information
c) Salary information
d) Credit accounts, past and present
e) Credit inquiries
What is c) salary information
400
The name of the form that an employer sends to an employee and the IRS to report the employee's annual wages and taxes withheld.
What is W-2
500
You receive a phone call ... 'Today is your lucky day! You have been chosen by the Space Travel Sweepstakes to receive a free trip on the Space Shuttle. All we need is your credit card number and expiration date to verify you as the lucky winner.' Do you give out this information?
What is no
500
In general, the student loan component of a financial aid package will increase by what amount each year?
a) $500
b) $1000
c) $2000
d) $5000
What is b) $1000
500
If facing financial difficulties, _________ and _________ are two loan payment postponement options.
What are deferment and forbearance
500
The names of 2 of the 3 main credit reporting agencies.
What are Equifax, Experian, and/or TransUnion
500
Typically, students who earn more than $______ in a year are required to file a federal tax return.
a) $1
b) $1000
c) $5000
d) $6350
e) $10,000