Credit Reports and Financial Aid

1.      A credit report is important because it contains which of the following?

• F.       History of dental visits

• F.       Level of education

• F.       Credit card reward points

• J.        A detailed account of one’s current and past financial records

Tags

CCSS.RI.4.5

CCSS.RI.5.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

   Consumer’s credit history is shown on their credit report.  There are actions the consumer can make that will build a positive or negative credit history.  Which of these is the most likely number of years that negative information will remain on a consumer’s credit report?

• .       3 to 6 years

• .       7 to 10 years

• .       11 to 14 year

• .        15 to 18 years

Addison is in need of financial assistance to help pay for college.  She is awarded funds based on financial need that do not need to be paid back. 

 

What kind of financial assistance did Addison receive?

• A.      Scholarship

• A.      Student Loan

• A.      Grant

• A.      Work-Study Program

Tags

CCSS.RI.4.5

CCSS.RI.5.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

Which of these describes information that can appear in a consumer’s credit report?

• A.      The current interest rate for a savings account at a local bank.

• A.      The name of the lawn company where the consumer pays cash for all services.

• A.      The amount of money the consumer received from a friend.

• A.      The amount of a home loan the consumer was given to purchase a home.

 Sheryl was a star women’s basketball player and she received money to pay for her college at Texas Tech University while playing basketball for the women’s team.

 

What kind of financial assistance did Sheryl receive?

• A.      Student loan

• A.      Work-study program

• A.      Scholarship

• A.      Savings plan

Tags

CCSS.RI.6.2

CCSS.RL.5.2

CCSS.RL.6.1

CCSS.RL.6.2

CCSS.RL.7.2