Personal Financial Literacy Progress Check
Flashcard
•
Mathematics
•
6th Grade
•
Practice Problem
•
Hard
Wayground Content
FREE Resource
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15 questions
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1.
FLASHCARD QUESTION
Front
What does FAFSA stand for?
Back
FAFSA stands for Free Application for Federal Student Aid. It is the form that students fill out to apply for financial aid for college.
2.
FLASHCARD QUESTION
Front
What is a grant?
Back
A grant is a type of financial aid that does not need to be repaid. It is often awarded based on financial need.
3.
FLASHCARD QUESTION
Front
What is a scholarship?
Back
A scholarship is a financial award given to a student to help pay for their education, often based on academic or athletic merit.
4.
FLASHCARD QUESTION
Front
What is a debit card?
Back
A debit card is a payment card that deducts money directly from a consumer's checking account to pay for a purchase.
5.
FLASHCARD QUESTION
Front
What is a withdrawal in a checking account?
Back
A withdrawal is when money is taken out of a checking account, such as when you use an ATM to get cash.
6.
FLASHCARD QUESTION
Front
What is the difference between a loan and a grant?
Back
A loan is money borrowed that must be repaid with interest, while a grant is money given that does not need to be repaid.
7.
FLASHCARD QUESTION
Front
What is the purpose of the FAFSA?
Back
The purpose of the FAFSA is to determine a student's eligibility for financial aid, including grants, loans, and work-study.
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