Student Loans, Scholarships, and Grants
This federal form decides how much financial aid you can get for college
What is the FAFSA?
What can give you a salary
What is a Job?
This simple habit means knowing how much money comes in and how much goes out
What is tracking your cash flow?
This card looks like a debit card but it has infinite money
What is a credit card?
This card looks like a credit card but only spends money you already have
What is a debit card?
This type of money for college doesn’t have to be paid back
What is a scholarship or grant?
This type of payment plan helps you pay tuition a little at a time instead of all at once
What is a tuition payment plan?
If your spending is more than your income, you’re said to be “in the ____.”
What is the red?
If you don’t pay your full bill, this sneaky fee grows fast
What is interest?
When you buy something with your debit card, the money comes straight from this account
What is your checking account?
This loan is “subsidized” because the government helps pay the interest while you’re in school.
What is the Federal Subsidized Stafford Loan?
If your job helps cover college costs, you might be part of this cool program perk
What is tuition reimbursement?
Checking accounts and debit cards can help you do this by showing all your transactions
What is keeping track of your money (or managing your budget)?
Paying your bill in full each month means you get this kind of free “loan”
What is an interest free short term loan?
If you don’t have enough money in your account, your debit card will do this
What is decline the purchase?
These high-interest, non-federal loans are often a last resort and can be risky if you’re not careful
What are private loans?
Students who work here tend to do better in school because schedules are more flexible and bosses understand exams
What is a on-campus job?
When your income is higher than your expenses, you’re doing this right
What is positive cash flow (or living within your means)?
Having too many of these pieces of plastic can lead to big debt trouble
What are credit cards (or too many credit cards)?
This part of your bank account determines whether your debit card approves or declines a purchase
What is your available balance?
With acceptance rates hovering around 1% or less, these elite scholarships are known for being some of the hardest in the world to win
Acceptable response (The Gates Scholarship, Chevening, Mitchell, Gates Cambridge, Rhodes Scholarship, Knight-Hennessy Scholars, and Fulbright U.S. Student Program)
This is the approximate percentage of U.S. employers that offer tuition-reimbursement programs
What is 47%
This advanced financial concept measures how efficiently a person converts their income into long-term wealth by analyzing spending habits, savings rate, and debt ratio over time
What is cash-flow optimization?
This known credit card detail refers to the exact period in which interest begins accruing on new purchases when a cardholder already carries a balance, eliminating the grace period entirely
What is the double cycle billing method?
This banking process determines whether a debit card purchase is approved by verifying real-time account balance, pending transactions, and merchant-requested pre-authorization holds
What is an authorization hold (or pre-authorization check)?