Mysterious?
What building and room number are we in right now?
Student Success Center 1075
List a reason for why you should create a budget.
Control your spending, meet financial goals, minimize debt, prepare for emergencies, etc.
What is work study?
A program where students earn money to help pay for school through part-time jobs.
Which is better: a high credit score or a low credit score?
A high credit score.
What is cheaper: in-state or out-of-state tuition?
What was the last SLI event that we had?
SLI Bingo Night!
Is your savings account meant to be used for everyday transactions?
No; it is used to earn interest overtime and save money.
What are 4 forms of financial aid?
Grants, scholarships, loans, and work-study.
What is the range for FICO credit scores?
300-850
What does room and board mean?
The cost of housing and meals for students
List a name of one mentor.
Ally, Kat, Sofía, Hannah, Yadi, Julie, Mairany, etc...
What is positive cash flow?
When money is left over after expenses have been paid.
Grants are NEED-BASED; scholarships are MERIT-BASED.
TRUE OR FALSE: Credit scores can tell you HOW much money you can borrow
FALSE; Credit scores deals with your ability to borrow money, NOT the exact amount of money.
Do bad grades affect your financial aid?
Yes, bad grades can affect your federal financial aid (meeting a certain GPA requirement, getting certain grades in classes, etc.)
Who is a SLI Program Director?
Dr. Alemán and Ms. Bowman
What is negative cash flow?
When expenses EXCEED cash flow; sometimes causing individuals to turn to borrowing and credit card use.
What is a subsidized loan?
Name one factor that affects your FICO credit score.
Payment history, amount owed, length of credit history, new credit (how often you apply for credit cards), or mixed credit (how many credit cards you have).
TRUE OR FALSE: Tuition includes books and supplies materials.
FALSE; tuition can cover costs of course credits, using campus facilities, etc., but not textbook materials.
Where are the different SLI branches located?
Harrisonburg, Richmond, and Winchester!
What is one of the 4 components of financial literacy?
Budgeting, spending, saving, or debt management (investing too)
What is an unsubsidized loan?
Loan that accrues interest from point of reimbursement (YOU are responsible for paying all the interest).
What is your credit limit?
The maximum amount of money a lender will allow you to borrow using a specific credit card or line of credit.
Is it cheaper to live on or off campus?