6th Grade Financial Literacy

Front

What is a work-study program?

Back

A payment option that allows students to work on campus and earn money to help pay for their college education.

Tags

CCSS.RI.5.3

CCSS.RI.5.5

CCSS.RI.6.3

CCSS.RI.6.5

CCSS.RI.7.5

Front

What happens to Julio's account when he pays $35.92 with his debit card?

Back

Julio's linked account will immediately have $35.92 removed.

Tags

CCSS.7.NS.A.1A

Front

What is a debit card?

Back

A type of payment card that withdraws money immediately from a checking account when used for purchases.

Front

What is a credit card?

Back

A payment card that allows you to borrow money up to a certain limit to make purchases, which you must pay back later, often with interest.

Front

What is a late fee?

Back

A charge that is applied when a payment is not made by the due date.

Tags

CCSS.RI.5.3

CCSS.RI.5.5

CCSS.RI.6.3

CCSS.RI.6.5

CCSS.RI.7.5

Front

What is the balance of an account?

Back

The amount of money available in a bank account at a given time.

Tags

CCSS.6.NS.C.7C

Front

What is a scholarship?

Back

A financial award given to a student to help pay for education, which does not need to be repaid.

Tags

CCSS.RI.4.5

CCSS.RI.5.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

Front

What is a loan?

Back

Money that is borrowed and must be paid back with interest over time.

Front

What is a Pell Grant?

Back

A type of federal financial aid that does not need to be repaid, awarded to low-income students.

Front

What is the difference between a debit card and a credit card?

Back

A debit card withdraws money directly from your bank account, while a credit card allows you to borrow money to make purchases.