Financial Aid
This financial aid is given based on merit and not need.
Scholarships
Another term for housing and food.
Room and Board
The overall sales tax rate for Edgecombe County, NC.
7% (4.75% + 2.25%)
You have to pay this every time you purchase something.
Sales Tax
All economic decisions are driven by this.
Scarcity
This feature allows your paycheck to go directly into your bank account instead of recieving a paper check.
Direct Deposit
This is a child or a relative that you financially support.
Dependent
This kind of loan is usually easier to get, but you have to pay interest while in school.
Unsubsidized Loan
Like a vehicle, you probably aren't going to end up paying this displayed cost of attendance.
Sticker Price
You need this form from your employer that details your income to file your taxes.
W-2
This "sin tax" is added to products that the government fells should be discouraged, like alcohol and tobacco.
Excise Tax
These decisions help control the money supply to prevent inflation and unemployment.
Monetary Policy
Money taken from your gross pay to pay for employee benefits are known as this.
Deductions
This agency collects taxes.
Internal Revenue Service (IRS)
Named after the Rhode Island Senator who championed its creation, this aid is given to students of financial need.
Pell Grant
Plus loans are usually paid by graduate students and them.
Parents
This Constitutional amendment gave Congress the power to levy income taxes.
16th Amendment
These are the two primary payroll taxes United States citizens have withheld in their paycheck.
Medicare and Social Security
Fiscal Policy
This form is completed and turned into your employer to help them determine what % of your gross pay will be withheld for income taxes.
W-4 Form
If the IRS suspects that your taxes have been done incorrectly, you haven't paid your fair share, or you are withholding certain income, they will do this.
Audit
To accept a federal student loan, you will need to complete entrance counseling and sign this.
Promissory Note
This program gives students the opportunity to work jobs through their college and earn money toward paying college expenses.
Work-Study
This is a period of time where you are expected to work towards financial stability before your loan repayment begins.
Grace Period
Often referred to as the death tax, this is a payment when property is transferred after someone's death.
Estate Tax
When a country, firm, or individual is able to make something more efficiently.
Comparative Advantage
This is the amount of money you end up with after withholding and taxes.
Net Pay
This is the form you submit when filing taxes.
1040
This is the first day in which FAFSA applications are accepted.
October 1
This is the long-term failure to repay your student loan, which could result in garnished wages, withholding of taxes or social security, and long-term credit score damage.
This is temporary postponement of student loan payments after repayment has begun; and no interest is charged.
Deferment
Sales taxes, Property taxes, and Sin taxes are all this, because the more people make, the less % of their income it is.
Regressive Tax
This approach promotes the idea that government does not intervene with businesses. It's French for "Let it Be."
Laissez-Faire
Garnishments like child support are deductions that have been mandated by what type of bodies?
The Courts
With the last two years being the exception, what date is officially known as Tax Day.
April 15