Why Finance?
An occupation that a person has for a significant portion of their life with opportunities for advancement.
Career
A degree awarded by a college, usually by community or junior colleges, for the completion of studies typically completed in two years.
Associate's Degree
Through brand partnerships, athletes can now turn their successes on the field into cash in their pockets.
(N)ame, (I)mage, (L)ikeness
The midpoint in the range of incomes; half of earners above it and half below it.
Median Income
The difference in pay between the richer and poorer parts of society.
Pay Disparity
Objective expressed in or based upon money (examples - debt reduction, saving for college, opening a business, etc.).
Financial Goal
What an individual or a family unit is required to do to obtain, budget, save, and spend money over time, taking into account various financial risks and future life events.
Personal Finance
A group of careers that share common features. If you like one job in a group, you will likely find other jobs in that group that you will like as well.
Career Cluster
A plan for using money to meet wants and needs.
Budgeting
Can allow you a fresh start financially, but it will stay on your credit reports for a number of years.
Bankruptcy
Arranging to spend, save and invest money to live comfortably, have financial security, and achieve goals.
Financial Planning
Money borrowed, which is used to pay for educational expenses.
Student Loan
The state or condition of having little or no money, goods, or means of support; condition of being poor.
Poverty
The first step of the career planning process. It is the process of gathering information about oneself in order to make an informed career goal decision. It includes a look at interests, personality, and skills.
Self-Assessment
Amount it takes for you to go to college. It will include tuition, room & board, miscellaneous fees and books/supplies.
Cost of Attendance
Low-cost student loan offered to parents of students currently enrolled in post-secondary education.
Direct Plus Loan
Income that is left over after paying for taxes that can be used for one’s own necessities and other expenses
Disposable
Written authorization to represent or act on another's behalf in private affairs, business, or some other legal matter.
Power of Attorney
Form used to determine one’s need for financial aid and to apply for federal education grants and loans.
FAFSA
This income is what’s left over after paying necessities out of your income (rent/mortgage/health care/transportation). It can be spent on non-essential items such as dining out, investing and travel. Essentially considered your “fun money”.
Discretionary
The cost of making a choice, including the explicit (out-of-pocket) costs and the implicit costs (the value of the next best alternative that one gives up).
Opportunity Cost
Monetary assistance given to a student to meet his or her college expenses, often in the form of grants, scholarships, loans, or even work-study programs.
Financial Aid
Available to ALL students regardless of financial need. Available to undergraduate AND graduate students (as well as professional degree students). Interest accrues while in school and you are responsible for all of interest even while you are in school.
Unsubsidized
Educational option for students interested in practical secondary education and job/career training. Offer relatively short, career-focused programs that quickly prepare graduates for the workforce in a particular field.
Vocational School
Type of loan available to ONLY undergrad students. Given to qualified students with financial needs. Interest doesn’t accrue while in school. Dept of Ed pays for interest while you’re in school at least half time, for first six months after graduation and during loan deferments
Subsidized