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Financial Literacy 2025 Flashcards | StudBud

Explore/Financial Literacy 2025

Which of these actions can help build a good credit score?

Why should you avoid borrowing more student loans than necessary?

Financial Literacy 2025

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Questions 10

Answers

1
Why should you avoid borrowing more student loans than necessary?
High student loan debt can be difficult to repay after graduation
Loans do not have to be paid back
You can spend extra loan money on anything
IDK
2
Which of these actions can help build a good credit score?
Applying for multiple credit cards at once
Paying bills on time
Maxing out credit cards
Never using a credit card
3
What is tuition?
The cost of books
The cost of living in a dorm
The price of attending college classes
A fee for using campus facilities
4
What is room and board?
The cost of textbooks
A scholarship for low-income students
The cost of housing and meals at college
All of the above
5
What does "living paycheck to paycheck" mean?
Investing all extra money
Saving 50% of income
Spending all earnings before the next payday
Paying only for necessities
6
What is a good reason to take out a loan?
To buy a car you can’t afford
To invest in a get-rich-quick scheme
To pay for college tuition
To go on vacation
7
What is the purpose of an emergency fund?
To use for last-minute vacations
To cover unexpected expenses
To buy fun things
To loan money to friends
8
What is the FAFSA used for?
Applying for student housing
Finding a college roommate
Applying for financial aid and student loans
Registering for college classes
9
What is credit limit?
The amount of credit available on a card
The total balance on the card
The minimum payment required
The interest rate on the card
10
True or false: a scholarship is money awarded for college that does not have to be repaid
True
False