Pay

Question 1

What is Gross Pay?

Answer 1

What you get paid before taxes and deductibles

Question 2

Net

Answer 2

Amount of pay you receive after deductibles and taxes are taken out

Question 3

W4

Answer 3

You fill out after you get hired for the job.

Question 4

W2

Answer 4

You get at the beginning of the year contains your total wages and all taxes taken from your paycheck

Question 5

1040 form

Answer 5

How you file for tax returns

Question 6

IRS

Answer 6

Collects taxes
Internal Revenue Service

Question 7

Grants

Answer 7

Money you get from the government that you don’t have to pay back

Question 8

Scholarship

Answer 8

Money awarded to person based on achievements

Question 9

Subsidized Direct Loan

Answer 9

Money that you borrow from the government .
You get 6 months after graduation to pay back

Question 10

Unsubsidized direct loan

Answer 10

Money you borrow from government that you have to pay back right away after graduation

Question 11

Parent plus Loan

Answer 11

A loan a parent needs to take out

Question 12

Private loan

Answer 12

A loan take from a bank or other private institution

Question 13

Fafsa

Answer 13

Free application for federal student aid
A type of financial aid

Question 14

COA

Answer 14

Cost of attendance

Question 15

EFC

Answer 15

Expected family contribution