

Credit Report & Paying for college
Flashcard
•
Mathematics
•
6th Grade
•
Hard
Wayground Content
FREE Resource
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15 questions
Show all answers
1.
FLASHCARD QUESTION
Front
What is a credit report?
Back
A credit report is a detailed record of an individual's credit history, including information about credit accounts, payment history, and outstanding debts.
2.
FLASHCARD QUESTION
Front
Why is it important to establish positive credit history?
Back
Establishing a positive credit history is important because it leads to higher credit scores, which can result in lower interest rates on loans and a higher likelihood of being approved for loans.
3.
FLASHCARD QUESTION
Front
What is a credit score?
Back
A credit score is a numerical representation of a person's creditworthiness, typically ranging from 300 to 850.
4.
FLASHCARD QUESTION
Front
What factors can affect your credit score?
Back
Factors that can affect your credit score include payment history, credit utilization, length of credit history, types of credit used, and recent credit inquiries.
5.
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.
6.
FLASHCARD QUESTION
Front
What is a grant?
Back
A grant is a sum of money given by an organization, often the government, to help pay for education, which does not need to be repaid.
7.
FLASHCARD QUESTION
Front
What is a loan?
Back
A loan is a sum of money borrowed that is expected to be paid back with interest.
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