TAXES
The money you earn before taxes or deductions
Gross income
A share of ownership in a company is called a _____.
stock
A record of your borrowing history maintained by bureaus
credit history
This government form determines your eligibility for financial aid
FAFSA
The monthly cost you pay to keep insurance active
premium
If you paid too much in taxes throughout the year, you may receive this.
A tax refund
A fund that pools many investors’ money into diversified assets.
mutual fund
The percentage cost you pay to borrow money
interest
Money for school you do NOT repay is called a _____
grant, scholarship
What you must pay first before insurance covers anything.
deductible
The U.S. federal income tax system uses this type of tax bracket structure
progressive/marginal tax structure
A fund that tracks an entire market index, like the S&P 500.
index fund
A credit card or HELOC is a __________ line of credit
revolving
The term for the cost of attending college
tuition
The amount you pay each time you use medical services
copayment / copay
Money spent on certain categories that reduces your tax owed is a tax ______
credit
Spreading investments out to reduce risk
diversification
Loans with equal monthly payments over time are called ____ loans
installment
Part-time jobs for aid-eligible students on campus
work study
This type of auto insurance covers damage you cause to others, but does not pay for repairs to your own car.
liability coverage
An individual or married couple can take either of these two types of deductions (list both)
standard or itemized
This retirement account takes after tax dollars and can be withdrawn tax free after 59 1/2
roth ira
Using something valuable as collateral creates a _____ loan
secured
These loans don’t accrue interest while you're in school and often start after you've graduated
subsidized loans
Name two types of insurance policies that can provide coverage for a home
homeowners, flood, earthquake, hurricane