Duplicate of Financial Literacy

A mortgage is a type of loan specifically used to buy a car.

Your credit score does not affect your ability to apply for student loans.

A credit score is a number that represents your creditworthiness.

It’s important to pay at least the minimum payment on your credit card bill to avoid late fees and interest.

A FAFSA is only for students who plan to attend public colleges.

You can deduct your personal expenses like groceries from your taxes.

You can apply for federal student loans every year, even if you have already received loans in previous years.

Your credit score is not affected by how much money you owe.

You can use your student loan money for living expenses like rent and food.

Federal student loans typically have lower interest rates than private student loans.

You are required to pay back your federal student loans immediately after graduating from college.

The tax deadline for filing federal income taxes is typically in April each year.

Federal student loans come with repayment options based on your income.

A higher credit score usually means better interest rates on loans.

If you don’t finish your degree, you are still responsible for paying back your student loans.