Ch. 5 Key Terms
Buying anything without planning to do so in advance
Impulse Buying
A French word meaning "to sum up" or a summary
Resume
percentage of the labor force, or a specific demographic, that's jobless and looking for work
Unemployment Rate
Free Application for Federal Student Aid stands for BLANK
FAFSA
The main idea of the documentary Borrowed Future is to expose the dark side of the student loan industry and how it works BLANK the borrower.
Against
A feeling of guilt, regret, or unease after making a purchase
Buyer's Remorse
Someone who starts and runs their own business
Entrepreneur
What kind of degree is an undergraduate degree that's completed in typically two years.
Associate's Degree
A BLANK degree is an undergraduate degree, usually completed in 4 years
Bachelor's
A borrower is slave to the who?
Lender
The theory that spending money and consuming goods is good for the economy
Consumerism
Personality traits that either come naturally to you or are developed over time
Soft Skills
Loans made by banks, credit unions, or other organizations with terms & conditions set by the lender- typically higher interest rates
Private Student Loans
BLANK are things you learn in school or with special training to help in your career
Hard Skills
$3 Billion
The act of fraudulently gaining and using the personal information of someone else(usually for financial gain)
Identity Theft
Someone who supports, guides, and advises another person over a period of time
Mentor
Federal student loans that are based on a student's financial need and don't accrue interest for a set period of time
Subsidized Student Loans
Unsubsidized
The culture the last 3-4 decades surrounding student loan debt has what?
Shifted
The process of communicating the value of a product or service to customers
Marketing
The idea that you should connect with people who are doing what you want to do
Proximity Principle
When debt payments are held off for or until a certain time and no interest accrues
Deferred
Forbearance
Winning scholarships can grant you a lot of what?
Flexibility and Freedom