Financial Aid (FAFSA & Loans)
$100: This is the primary purpose of the FAFSA, even if you don’t want a loan
What is to qualify for scholarships and non-federal aid? (Spanish: Calificar para becas.)
Generally, as your level of education goes up, this goes down.
What is the Unemployment Rate? (Spanish: Tasa de desempleo.)
This is your "take-home pay" after all taxes have been removed.
What is Net Pay? (Spanish: Pago Neto.)
You must fill this out on your first day of work to prove you are allowed to work in the U.S.
What is the I-9?
This is a tax placed on products imported from other countries.
Answer: What is a Tariff? (Spanish: Arancel.)
This number is calculated by the FAFSA and tells colleges how much financial help you need.
What is the Student Aid Index (SAI)?
This military benefit can pay for your entire college education.
What is the GI Bill?
These two specific taxes make up the "FICA" deduction on your paycheck.
What are Social Security and Medicare?
This form determines how much tax your boss takes out of your check.
What is the W-4?
This is the process of businesses and organizations operating on an international scale.
What is Globalization?
This type of federal loan is the "best" because the government pays the interest while you are in school.
What is a Subsidized Loan?
This term describes the "profit" or benefit you get from the money you spent on your degree.
What is Return on Investment (ROI)?
This is income you get from active work, like a salary or hourly wages.
What is Earned Income?
This form arrives in January and shows your total yearly earnings and taxes paid.
What is the W-2?
North Carolina’s economy has evolved from agriculture and textiles to these two modern industries.
What are Finance and Technology?
Unlike federal loans, these usually have higher interest rates and require a good credit score.
What are Private Student Loans?
This is a way to save money by doing your first two years of school at a lower cost before moving to a university.
What is transferring from a Community College?
This figure shows how much you have earned or paid in taxes from January 1st until today.
What is Year-to-Date (YTD)?
This is the primary benefit of filing a Form 1040 in April
What is getting a Refund? (Spanish: Recibir un reembolso.)
This type of tax is collected when you buy an item at a store.
What is Sales Tax?
This type of loan starts growing interest the moment you take it out.
What is an Unsubsidized Loan?
Compared to a 4-year degree, this path usually allows you to enter the workforce faster with less debt.
What is Technical or Trade School?
Lottery winnings, dividends, and rental income are examples of this.
What is Unearned or Passive Income?
These three boxes on a W-2 show the specific money withheld for federal, social security, and medicare taxes.
What are Boxes 2, 4, and 6?
Tariffs usually cause the price of products in the U.S. to do this.
What is increase/go up? (Spanish: Aumentar.)