Banking
This type of account is connected to your debit card
Checking account
The amount borrowed by someone for a loan
Principal
A record of how you've managed loans and payments over time
Credit report
Money you borrow for college and need to repay
Student loans
A monthly fee that some banks charge to keep your account open
Maintenance fee
An initial payment made when buying something expensive, such as a car or house
Down payment
This payment method can help you build credit and requires a cash deposit
Secured credit card
Sticker price - gift aid =
Net price
This federal insurance program protects the money you deposit in member banks up to $250,000 per depositor, per bank
FDIC
The lowest amount you can pay on your monthly credit card bill to remain in good standing
Minimum payment
This strategy for debt repayment starts with the highest interest-rate debts
Avalanche method
or
High-rate method
The form submitted by students to determine their eligibility for financial aid
FAFSA
What is one way to reduce the amount of overall interest you pay on a loan?
Making a higher down payment
Choosing a shorter loan term
Finding a lower interest rate
Making additional payments above the minimum
Who is one person that might ask to see your credit report?
Credit card companies
Insurance companies
Employers
Telecommunications companies
Public utilities
Government agencies and courts
Landlords
Assisted living facilities and nursing homes