TCMS: Final Vocabulary

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What are Fees in the context of education or finance?

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Fees are additional charges for services or activities beyond tuition.

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What are Unsubsidized Loans?

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Unsubsidized loans are federal student loans where the borrower pays the interest from the time the loan is disbursed.

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What is an Annual Fee?

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An annual fee is a yearly charge for using a service, such as a credit card.

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What are Rewards in the context of credit cards?

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Rewards are benefits or points earned for using a credit card, which can be redeemed for goods or services.

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What does Tuition refer to in the context of education?

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Tuition is the fee paid for instruction at a school or university.

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What is the difference between Subsidized and Unsubsidized Loans?

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Subsidized loans do not accrue interest while the student is in school, whereas unsubsidized loans do.

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What is a Credit Score?

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A credit score is a numerical representation of a person's creditworthiness, based on their credit history.

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What is a Scholarship?

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A scholarship is a financial award given to a student to help pay for their education, often based on academic or other achievements.

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What is a Grant?

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A grant is a sum of money given by an organization, especially a government, for a particular purpose, such as education.

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What is a Student Loan?

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A student loan is money borrowed to pay for education, which must be repaid with interest.