Fin Lit Saving for the Future

Biggest advantage of scholarships: they don't have to be repaid if you complete your education

direct deposit can only be deposited into a savings account, not a checking account

Not-for-profit organizations established by groups of people who pool their money

Savings and checking accounts at a credit union are usually called

means all of an individuals student loans care combined into one

Bonds represent debt, or a loan; stocks represent equity, or ownership

Name a short term need

Credit unions are owned by the board of directors of the banks that established them.

The widest variety of banking services is provided at a

Scholarships almost always come with no strings attached

The more often interest is compounded, the greater your interest earnings will be.

Generally, the amount of work-study earnings will help offset the need for student loans

Firm that buys and sells different types of stocks and bonds

The best reason to save money is to provide for future needs.

A measure of how quickly you can get your cash without loss of value

Work-study programs allow students to earn money by working

A form of financial aid for edcational funding that does not have to be repaid

Online savings accounts generally pay higher rates of interest than traditional savings account

Which of the following would be considered a long-term need?

FDIC protects accounts from loss up to

Subsidized student loans

Bike costs $150, parents pay 1/4 what will you have to pay?

Earnings on principal is called interest.

Amount of money you deposit into a savings account

Cash allowance awarded to a student to help pay education costs