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Credit & Debt Key Terms Flashcards | StudBud

Explore/Credit & Debt Key Terms

Credit & Debt Key Terms

9 terms·StudBud Administration·31 plays

Key Terms from Foundations Personal Financial Literacy

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Questions 9

Answers

1
What is a credit card?
Financial aid that does not need to be repaid
The charge for borrowed money generally defined as a percentage
A plastic card used to buy good or services using debt
A program that allows students to work part-time while in college
2
What is interest?
The percentage of credit scores per capita
The charge for borrowed money generally defined as a percentage
Something that you like to talk about
A short-term, personal loan to purchase a car
3
What is a car loan?
A short term personal loan to purchase a car
When someone loans you a car
Uber Drivers who provide charity work
A person or company who loans money
4
True or False: A Scholarship is financial aid that is awarded on the basis of academic, athletic, achievement, etc.
True
False
5
True or False: A lender is usually a charity who gives to people in need.
False
True
6
What is a work study?
Financial aid that does not need to be repaid
Someone who collects debts owed to others
The greatest thing of all time
A program that allows students to work part-time while in college
7
True or False: A student loan is a low interest loan that you don't have to pay back until you graduate.
False
True
8
Who is a debt collector?
The earned interest on money you save or invest
A plastic card used to buy good or services using debt
Someone who collects debts owed to others
A person or company who loans money
9
What is a credit score
A mysterious algorithm invented in the 18th century
A score that predicts how successful you will be as an adult
An assigned number to signal to lenders a person’s ability to repay a loan
Financial aid based on financial need