Loans: Vocab Check-in

Front

APR?

Back

Annual percentage rate.

Front

An interest rate that remains the same throughout the loan is known as ________________.

Back

A fixed interest rate

Front

An interest rate that can change at any moment during the loan is known as _____________.

Back

A variable interest rate

Front

To defer loan payments is to ___________________.

Back

Put off making payments until a later date.

Front

When you graduate from college, you have 6 months to find a job before your first student loan bill. This is known as a _________.

Back

Grace period.

Front

Loan making both parents and you legally responsible.

Back

PLUS loan

Front

Loan that doesn't accrue interest until after graduation.

Back

Subsidized loan

Front

Loan that starts accruing interest immediately:

Back

Unsubsidized loan

Front

Type of government funding for minimum wage job while in school?

Back

Work study programs

Front

Form to fill annually for school loan eligibility?

Back

FAFSA