FM Unit 12

Front

What is an associate’s degree?

Back

A two-year college degree from a community college, university, or career school.

Front

What is a Federal Perkins Loan?

Back

A federal education loan for students with exceptional financial need, carrying a lower interest rate and offering a longer grace period before repayment.

Front

How do you calculate yearly salary from hourly wage?

Back

Multiply the hourly wage by the number of hours worked per week (40) and then by the number of weeks worked per year (52). For example, $9.25/hour * 40 hours/week * 52 weeks/year = $19,240.

Front

What does Return on Investment (ROI) measure?

Back

A performance measure used to evaluate the efficiency of an investment or to compare the efficiency of different investments.

Front

How do you calculate Return on Investment (ROI)?

Back

ROI = (Net Profit / Cost of Investment) * 100. For example, if Allison invested $4000 and sold for $6250, her ROI = (($6250 - $4000) / $4000) * 100 = 56%.

Front

What is the difference between a graduate degree and an undergraduate degree?

Back

A graduate degree is earned after completing an undergraduate degree, while an undergraduate degree is typically a bachelor's degree earned after high school.

Front

What is a full-time work schedule typically considered?

Back

A full-time work schedule is usually considered to be 40 hours per week.

Front

What is the significance of a grace period in student loans?

Back

A grace period is the time after graduation or leaving school during which a borrower is not required to make loan payments.

Front

What is the purpose of financial aid?

Back

Financial aid helps students pay for their education, covering tuition, fees, and other related expenses.

Front

What is the difference between a federal loan and a private loan?

Back

Federal loans are funded by the government and often have lower interest rates and more flexible repayment options, while private loans are offered by banks or financial institutions and may have stricter terms.