Unit 2: Credit Vocabulary Quiz

The regular payments made on an installment loan are called (a)   ?

When you fail to make the required installment payments on your loan, you're said to (a)   on your loan.

A monetary award given to an individual based on their academic achievements is called a (a)   .

How deserving someone is of receiving credit is called their (a)   .

An additional party that signs onto a loan pledging to repay it if the borrower defaults is called a (a)   .

A _________-_______ mortgage has an unchanging interest rate, which means you will have a stable and predictable monthly payment.

(a)  

Large, replenishing consumer loans are more commonly referred to as _________ ___ ________.

(a)  

A ______-______ program are federal programs meant to provide low-income students with jobs and income while in college.

(a)  

A credit check that does not automatically hurt your credit score is referred to as a ______ _________.

(a)  

The (a)   is an application that you fill out in order to determine the amount of financial aid the government can provide to you in the form of student loans.