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Financial Literacy Basics (2022) Flashcards | StudBud
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Financial Literacy Basics (2022)
Financial Literacy Basics (2022)
8 terms
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StudBud Administration
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106 plays
Credit and Student Loans
Flashcards
8 cards
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Practice quiz
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Host live
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Questions
8
Answers
1
Which of the following is true about
loan deferment
?
Deferment is a postponement of loan payments
Deferment is a request for stop payments for 12 months
2
Which of the following represents an
Excellent
FICO credit score?
450
100
650
800
3
A major difference between a
loan
and a
grant
is grants MUST be paid back
True
False
4
Credit is trust that someone will pay back a loan
False
True
5
A credit report is a collection of a borrowers credit history
False
True
6
Which of the following are possible dangers of credit?
Inability to pay has negative consequences
Credit card terms can be difficult to understand
All of these are possible dangers
Easy to "buy now, pay later"
7
Student loan repayment plans are paid over a 10 year span.
False
True
8
The US Government pays interest on
subsidized
student loans while students are in college.
True
False
