Final Notecards Flashcards
fee for instruction
tuition
the cost of a place to live
room
the cost of food
board
legal resident of the state in which the college is located
in-state resident
students who are not legal residents of the state in which the college is located
out-of-state students
an institution of higher learning that is operated and funded by the state in which it is located
public university
an institution of higher learning that is operated by a private organization
private university
type of student financial aid that you don’t have to repay
scholarships/grants
funds are given to students who have a documented need
need based
the government pays interest when you’re in school
subsidized
you pay all the interest
unsubsidized
adding the interest payments to the loan balance
capitalizing
What are the three financial aid programs you can apply for through FASFA?
Scholarships, grants, and loans
What are the other three sources of aid other than scholarships, grants, and loans?
Federal aid, State aid, Federal-Work Study Program
college that is approved of meeting certain standards
accredited
the teachers or professors
faculty
course of study
curriculum
people who have graduated from a certain school
alumni
students enroll in college classes and if they earn the passing grade, they earn credit that may be applied toward their high school diploma, a college degree or a certificate
dual enrollment/concurrent enrollment
participating in course activities and assignments whenever and from wherever it is convenient during the school week
asynchronous-mode course
you are informed by December whether or not you are accepted e
early-admissions policy
they make decisions as students apply
rolling-admissions policy
list of students who will be admitted if others choose not to come
waiting list
What are the basic factors that colleges use to judge an applicant’s suitability
for admission?
Scores, grades, extracurricular activities, interviews, admission essays, recommendations
a standardized test that often helps with admission
entrance examination
widely used entrance exam, measures knowledge and academic skills students need for success in college
SAT
tests what the student has actually learned
aptitude/acheivement test
college entrance examination, alternative to the SAT
ACT
helps students get classes that would help them most
CPT
covers the same areas as SAT
Preliminary SAT
What is the main purpose of college entrance exams?
They help with admission
What are the two basic entrance exams used by colleges in the United States?
SAT and ACT
person who helps decide who to admit
admissions officer
official record of your grades
transcript
travel schedule
itinerary
graduate student who specializes in the course topic
teaching assistant
how you manage your money
personal finance
a document that outlines your monetary goals and how you plan to reach them
financial plan
money you earn
income
things you need to live
needs
things you don’t have, but you want
wants
immediate access to funds for short term need
liquidity
a charge on loaned money
interest
interest on interest
compound interest
something that has value
asset
uncertainty to the outcome of an investment
risk
What are the six steps for developing a personal financial plan?
establish financial goals, consider your current financial position, identify evaluate alternatives to achieve your goals, select the best plan to achieve your goals, evaluate your plan, and revise your plan
a form on which you keep track of the money you deposit or withdraw
checkbook register
a list of transactions from your bank account over a period of time
account statement
a paper document saying how much money you deposited into what account
certificate of deposit
borrowing money with interest
loans
nonprofit bank owned by members
credit union
checking your checkbook register compared to the bank statement
balancing
converts a paper check into an electronic payment in store
conversion
a debit card for use at retail stores or cash withdrawals
prepaid debit card
What are the two major types of banking institutions? Explain the differences
between them.
online - a way of managing banking transactions through your personal computer or electronic device
not online- a real and physical bank that you can visit where you can talk to people about problems in person instead of having to call them
Distinctive name identifying a product or manufacturer
brand
a person who rents an apartment
tenant
apartment owner
landlord
come before taxes and other deductions
gross income
a payment to make sure you meet your obligations as a tenant
security desposit
income after taxes and other deductions
net income
the lender’s charge on borrowing money
interest rate
the difference between market value and the unpaid balance
equity
What are the three Ps for eating on a budget?
plan, purchase, and prepare
legal responsiblity
liability
amount that you must pay before the insurance company pays anything
deductible
laws that make each person responsible for his or her own damages and injuries
no-fault
a way to protect your family and loved ones from financial losses
life insurance
person who will receive insurance benefits
beneficiary
policy that you buy to cover a certain period of time
term life insurance
provides coverage for your entire lifetime
whole life insurance
insurance for a specific period that accumulates savings for policy holdings during this period
universal life insurance
What are the differences between term and whole life insurance plans?
Term is only for a certain amount of time and whole life is for all life
What are the differences between term and whole life insurance plans?
Term is only for a certain amount of time and whole life is for all life
yearly interest rate
APR
the money you borrow
principal
a situation in which a court rules that a person is not able to pay his or her bills
bankruptcy
possessions that a borrower pledges in return for a loan
collateral
record of paying your bills
credit history
monthly rate
periodic rate
an interest rate that changes over time
variable rate
spending more than you earn
deficit spending
A sequence of rigorous academic and career or technical courses leading to an associate’s degree, baccalaureate degree and beyond, or an industry recognized certificate and/or license
career path
work you do to make a living
work
A chosen field of work that has the potential for continuous growth and advancement by incorporating your interests, skills, values, and strengths to provide long-term fulfillment
career
Process of making contacts and building relationships that can help you obtain leads, referrals, advice, information, and support
Networking
An inroad or route to information before it is widely known
lead
Website that provides a virtual community for people to share their daily activities or interests, or to widen their circle of professional acquaintances
social network
Eight distinct areas of intelligence that everyone possesses
Multiple intelligences
A technique for exploring the ways that your interests can be grouped into job categories so you can begin to select specific career paths to investigate.
Holland Interest Environments
The ability to create mental images and transform them into an art form or useful product
visual/spatial intelligence
Focuses on the use of language and words
verbal/linguistic intelligence
Focuses on the ability to be aware of patterns in pitch, sound, rhythm, timbre
musical/rhythmic intelligence
The ability to think abstractly, to problem solve, and to think critically
logical/mathematical intelligence
Ability to connect mind and body, often excelling at sports
bodily/kinesthetic intelligence
Ability to comprehend your own feelings
intrapersonal intelligence
Ability to comprehend others’ feelings
interpersonal intelligence
Ability to understand and work effectively in the natural world of plants and animals
naturalistic intelligence
Programs in which you can work part time in career fields in which you are interested while taking job-related courses at schoo
cooperative education
(co-op) programs
A life coach who guides, advises, and advocates for you in your individual life path
mentor
Study at a college or university, perhaps starting at a community or junior college
higher education
Job that does not involve manual labor, generally not requiring protective clothing
white-collar job
Job that requires manual labor, requires protective clothing
blue-collar job
Evening or weekend courses for working adults who are not able to enroll in college full time
continuing and adult education
Formal education after you graduate college , gives in depth knowledge of your job career
graduate school
Subject area in which you want to focus on
major
What is the difference between a college and a university? Between
a university and a community college?
Colleges are usually smaller teaching places that can give undergraduate degrees, community colleges give associate degrees and training certificates, and universities can give graduate degrees
