Terminology Flash Cards 1-Paying For College

Terminology Flash Cards 1-Paying For College

Assessment

Flashcard

Mathematics

12th Grade

Medium

Created by

Rochelle White

Used 1+ times

FREE Resource

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42 questions

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1.

FLASHCARD QUESTION

Front

Capitalized Interest

Back

Unpaid interest that has been added to the principal balance of a loan

2.

FLASHCARD QUESTION

Front

Cosigner

Back

Someone who legally agrees to take responsibility for a person's debt if they cannot repay it

3.

FLASHCARD QUESTION

Front

Cost Of Attendance

Back

Total expense of going to college which may include tuition, room and board, fees, books and supplies, transportation, health insurance, etc. Also known as Sticker Price or a school's published price.

4.

FLASHCARD QUESTION

Front

Default

Back

Long-term failure to repay a loan according to the terms agreed to, which has a substantial negative impact on the borrower's credit score

5.

FLASHCARD QUESTION

Front

Deferment

Back

A process that allows a borrower to pause their federal student loan payments; interest does NOT accrue during this time period on subsidized loans

6.

FLASHCARD QUESTION

Front

Delinquency

Back

Describes the status of being behind on one or more loan payments

7.

FLASHCARD QUESTION

Front

Direct Plus Loans

Back

A federal loan available to graduate or professional students and eligible parents of dependent undergraduate students to help pay for the cost of the student's education at participating schools

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