Credit Cards/Scores
Charged if your loan or credit card payment isn't received by the due date
Late fees
Acronym for Automatic Teller Machine
ATM
Something, typically money, that is owed or due
Debt
Money for college that does not have to be paid back. They are merit-based and usually awarded based on specific criteria (academic performance, extracurriculars, ethnic heritage).
Scholarships
This individual founded his business in a garage in Seattle.
Jeff Bezos
A person who is approved by a creditor to use an account but is not responsible for paying it.
Authorized user
Money owed to individuals, businesses, or institutions.
Liabilities
A decrease or loss in value
Official notification of the type and amount of financial aid a college is offering you
Award letter
This product was created and used to connect to other people. This product was created as he was attending Harvard University. Who is the individual?
Mark Zuckerberg
The maximum amount that you can borrow on a given account.
Credit Limit
The original amount of money borrowed, deposited, or invested before interest accrues.
Principal
Time frame that a loan agreement is in force, and before or at the end of which the loan should either be repaid or renegotiated for another term
Loan Term
Financial aid given for work on campus. You must complete the FAFSA to qualify.
Work Study
The most famous living value investor
Warren Buffett
May be fixed or variable, charged on the outstanding balance on your debt
Annual Percentage Rate (APR)
To revise a loan agreement to make the terms of payment more suitable to a borrower's present income and ability to repay.
Refinance
A yearly fee that's charged by the credit card company for the convenience of the credit card
Annual Fee
Federal loans that don't accrue interest until after you graduate from college.
Subsidized loans
This individual started making jewelry out of her spare bedroom in Austin, Texas, in 2002 after she couldn’t find color gemstone jewelry she could afford.
Kendra Scott
Credit scores fall under a range from poor to excellent. What is the range of credit scores?
300-850
A stock of accumulated wealth used or available for producing more wealth.
Capital
Preferred method of debt payment; includes a list of all debts organized from smallest to largest balance; minimum payments are made to all debts except for the smallest
Debt Snowball
The difference between the actual cost of attending college and what your family can contribute toward college expenses.
Demonstrated need
This business originated right here in Corpus Christi, Texas. This is one of Texan’s favorite places to go to.