Personal Finance and College Planning Quiz

Non-repayable financial assistance based on merit or need.

To monitor and manage money by recording income and spending.

Government form to determine eligibility for student financial aid.

Application for federal student financial aid.

A time deposit with a fixed interest rate and maturity date.

Tax-advantaged savings plan for education costs.

Tax-advantaged individual retirement account for long-term savings.

Quick formula to estimate investment doubling time.

Credit cards are a form of borrowing, not financial aid.

Interest assistance during and after school for subsidized loans.

Paying more than the minimum accelerates debt repayment.

Government program providing part-time jobs for eligible students.

Employer-sponsored retirement plan with employer-contributed funds.

Named after Section 529 of the Internal Revenue Code.

Cost of instruction and education services at a college.

Tax-advantaged account for educational expenses.

Cost of forgoing the next best alternative when making a decision.

Earnings in the account grow tax-free for qualified education expenses.

Eligibility for federal student loans is often based on financial need.

Form used by colleges to assess eligibility for non-federal financial aid.

Personal loans are not a recommended source for college funding.

Calculated amount a family is expected to contribute to college costs.

While important, income level is not directly considered in credit scoring.

Standardized system to evaluate creditworthiness.

Defaulting negatively affects credit score and financial standing.