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CCTC REACH COL 105 Financial literacy Flashcards | StudBud

Explore/CCTC REACH COL 105 Financial literacy

CCTC REACH COL 105 Financial literacy

12 terms·StudBud Administration·65 plays

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Questions 12

Answers

1
How often do students need to apply for FAFSA?
One time
Every two years
Once a year
Every 6 months
2
Which student loan is the best choice?
Unsubsidized Student Loan
Subsidized Student Loan
3
What is the system Money Lenders have to rate likelihood that people will repay debts?
Credit Reports and Credit Scores
Grades and Degrees
Loans and Grants
Social Media and Friends
4
What is the goal of a successful budget?
Not to spend money
Create an unrealistic starting point
Spend financial aid as fast as possible
Income exceeds your expenses
5
How much money should you keep in your checking account?
One Month's expenses
None
Six month's expenses
Two Month's expenses
6
The average student repayment schedule for 4 years of college is.......
10 years
5 years
15 years
7 years
7
What is a Subsidized Student loan?
Loan that is NOT accuring interest WHILE in school
Loan only for certain subjects
Free money
Loan that is accruing interest WHILE in school
8
What are traits of a financially healthy person?
Plans for the future
All of Above
Informed
Organized
9
When does the FAFSA applications open for each school year (Fall/Spring/Summer)?
March 1st
January 1st
October 1st
May 1st
10
What are disadvantages of a credit card?
High interest rates
Easy or over spending; debt
Identity Theft
Red, blue and yellow answers
11
What are grants and scholarships?
Money that must be paid back
Free money awarded to attend college
A loan that is accuring interest while in school
Money from secret societies
12
Which are indicators of Identity theft?
Unauthorized new credit card
All 3 types of Unauthorized listed here
Unauthorized credit card purchases
Unauthorized student loan