Credit Report & Student Aid

Which of these describes the information should appear in a credit report?

• Name of stores where you have paid in cash.

• Name of the company who gave you a car loan 3 years ago.

• The amount of money you loaned a family member.

• Late payments from 20 years ago.

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6.14.E

Consumers sometimes choices that cause negative information to be put on their credit reports. The number of years that this information can stay on a credit report is about from​​ (a)   to ​ (b)  

• 7 years
• 10 years
• 7 months
• 10 months
• 20 years
• 1 year
• 20 months
• 1 month

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6.14.E

Santiago received financial assistance to attend college because he will be playing on the school football team. After he graduates he will not have to repay the money he received. What kind of financial assistance did Santiago receive?

• Savings

• Grant

• Scholarship

• Student Loan

• Work-Study

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6.14.G

Hellen received financial assistance to attend college because she will be assisting at the school's science lab. After she graduates she will not have to repay the money she received. What kind of financial assistance did Hellen receive?

• Savings

• Grant

• Scholarship

• Student Loan

• Work-Study

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6.14.G

Ms. Austin applied for a car loan at a bank. Which statement best describes the importance of Ms. Austin's credit report to the bank?

• The report will show the likelihood the entire loan will be paid back on time.

• The report shows the amount of time Ms. Austin went to college.

• The bank gives higher interest rates to higher credit scores.

• The bank gives partial loans to people with strong credit.

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6.14.F