| A | B |
|---|
| The process of paying off debt through payments made regularly over time | Amortization |
| The person whose name is on a credit or debit card, and they make purchases with it. | Card Holder |
| The company(Capital One, VISA, etc.) who issues credit cards to it’s customers. | Card Issuer |
| A second person who signs for a loan, and takes full responsibility for paying back a loan, and they must pay any missed payments or fees. | Co-Signer |
| The record of how a person has managed his or her credit in the past, including total debt load, number of credit lines, and timeliness of payment. | Credit History |
| A request by an institution for credit report information from a credit reporting agency. Credit inquiries can be from all types of entities for various reasons, but they are typically made by financial institutions. | Credit Inquiry |
| A statement that has information about your credit activity and current credit situation such as loan paying history and the status of your credit accounts | Credit Report |
| A number that rates your credit risk. It can help creditors determine whether to give you credit and decide the terms they offer. | Credit Score |
| Being past due on a debt, it happens when you miss a payment on a loan, and can affect your credit score. | Delinquency |
| The amount of money you owe compared to how much you can take out. | Debt-Ratio |
| The number of compounding periods in a year, how frequently interest is added to the principal for a loan. | Compounding-Frequency |
| An item that is valuable that a lender can take back from a borrower if they don’t make their payments according to the agreed terms. | Collateral |
| A legally binding agreement that a borrower undertakes guaranteeing repayment of a loan. | Credit Obligation |
| The possibility of a loss resulting from a borrower's failure to repay a loan or meet contractual obligations. | Credit Risk |
| The fraction, or amount of something a person who’s paying a loan on it owns. | Equity |
| An interest charge or other fees you may be required to pay on your credit card account. | Finance Charge |
| When money is legally withheld from your paycheck and sent to another party. | Garnishment |
| The total earnings a person receives before paying for taxes and other deductions | Gross Income |
| The amount of money you bring home in your paycheck after taxes, health insurance premiums and retirement contributions are taken out. | Net Income |
| Any debts the individual may have including personal loans, credit cards, student loans, unpaid taxes, and mortgages. | Personal Liabilities |
| The sum of all assets owned by a person or a company, minus any obligations or liabilities(debts they owe) | Person-Net-Worth |
| Measures your cash inflows and outflows in order to show you your net cash flow for a specific period of time | Personal Cash-Flow |
| A three-digit number based on the information in your credit reports. | FICO Score |
| Someone in a professional position at an institution who may guide prospective and current students through the admission process, course registration and selection, program planning, degree completion, scholarships and more. | Academic Advisor |
| An instructor employed by a college or university for a specific purpose or length of time and often part-time | Adjunct Faculty |
| A group of students that enter a program together and remain together throughout its duration | Cohort |
| Provides student support and oversees the experience of attending a college or university. | Dean of Students |
| A person who is the first in their immediate family(going through grandparents) to attend college | First Generation College Student |
| College students if they take at least 12 credits — about four classes — each semester | Full-Time Student |
| Students taking 11 or fewer credits per semester. | Part-Time Student |
| A postsecondary academic instructor. | Professor |
| An official recorder or keeper of records. | Registrar |
| Someone who gives private lessons to one student or a very small group of students | Tutors |
| When you drop a class after the allowed add/drop period ends. | Withdraw |
| A situation in which a college or university has not formally accepted a particular student for admission to a class. | Wait-List |
| The price colleges charge for classes. | Tuition |
| An official document that shows the courses you have taken, the grades earned, and a cumulative grade point average (GPA). | Transcript |
| Your guide to a course and what will be expected of you in the course. Generally it will include course policies, rules and regulations, required texts, and a schedule of assignments. | Syllabus |
| Includes the cost of housing and the cost of a meal plan | Room and Board |
| Presenting someone else's work or ideas as your own, with or without their consent, by incorporating it into your work without full acknowledgement | Plagiarism |
| A test given by a school to determine the academic or skill level of a student, especially a new student, in order to place them in the correct class. | Placement Test |
| A form filled out by current and future undergraduate and graduate college students in the United States to determine whether they are eligible for student financial aid. | FAFSA |
| A United States federal law that governs the access to educational information and records | FERPA |
| A provision included in purchase contracts that allows home buyers to back out of their contract if a home is appraised for less than the purchase price included in the contract. | Appraisal Contingency |
| A real estate professional who guides a buyer through the process of purchasing a home. | Buyer’s Agent |
| Is the final phase of mortgage loan processing where the property title passes from the seller to the buyer. | Closing |
| A return offer given by the seller in response to the original bid. | Counter Offer |
| The expenses over and above the property's price that buyers and sellers usually incur to complete a real estate transaction. | Closing Costs |
| A deposit made to a seller that represents a buyer's good faith to buy a home. | Earnest Money Deposit |
| The estimation of a home’s current market value | Home Appraisal |
| Observations and reports on the condition of a real estate property, usually when it is on the market to be sold | Home Inspection |
| A licensed real estate agent who represents the seller in a transaction. | Listing Agent |
| A promise by one party to act in a certain manner provided the other party will act in the manner requested. | Offer |
| An estimate for credit given by a lender based on information provided by a borrower. | Pre-Qualification |
| A preliminary evaluation of a potential borrower by a lender to determine whether they can be given a pre-qualification offer. | Pre-Approved |
| Closing costs the seller agrees to pay. | Seller Concession |
| A legal document that requires sellers to provide previously undisclosed details about the property’s condition that prospective buyers may find unfavorable. | Seller Disclosure |
| A sale that takes place when a financially distressed homeowner sells their property for less than the amount due on the mortgage. | Short Sale |
| An arrangement in which two or more people share ownership rights in a property or parcel of land. | Tenancy in Common |
| A legally binding agreement that governs the purchase and sale of a property. Made between a buyer and seller, it defines the terms of the transaction, and the conditions under which a sale will occur. | Purchase Agreement |
| An arrangement in which a landowner, the lessor, rents out the land to a tenant, or the lessee | Land Lease |
| An organization in a subdivision, planned community, or condo building that makes and enforces rules for the properties and residents. | Homeowner’s association (HOA) |
| A means of protection from financial loss, a form of risk management used to financially protect against the risk of a contingent or uncertain loss. | Insurance |
| A document containing the terms and conditions of a contract of insurance, between the insurer and the policyholder, which determines the claims that the insurer is legally required to pay. | Policy |
| The decrease in the value of property over time, it is worth less and is covered by less insurance money as it gets older. | Depreciation |
| When someone who is insured requests the insurance company to pay for something their insurance policy covers, like a car accident or fire. | Claim |
| The amount of money a person or business pays for an insurance policy, usually paid monthly. | Premium |
| The amount of money a person has to pay for covered insurance services before their insurance policy begins to pay. | Deductible |
| Insurance policy that covers and helps pay for other people’s damaged property when the person who owns the policy is in the accident. | Property Damage Insurance |
| Insurance policy that helps pay to replace or repair the policy holder’s car in an accident that’s not a collision | Comprehensive Coverage |
| Insurance that will cover the medical costs of the other people involved in the accident (not who caused it) and may pay for their legal expenses for causing the accident. | Bodily Injury Insurance |
| When an insurance provider looks at and assesses the likelihood of the person or business wanting insurance having an accident or incident that the insurance must cover. | Risk Management |
| Measures economic performance | Economic Indicators |
| Measures the number of people who are able to work but don't have a job | Unemployment Rate |
| Total value of goods and services produced in a country in a year | Gross Domestic Product |
| A decrease in the cost of goods and services | Deflation |
| The amount of money a government owes | National Debt |
| An increase in the cost of goods and services | Inflation |
| Results of a government spending more than it collects in taxes | Budget Deficit |
| Receives profit by satisfying your needs and wants | Business |
| Who you are when you select, purchase, use or dispose of goods or services | Consumer |
| Anything you can use to make or obtain what you want or need. | Resources |
| Material things you can see and touch. | Goods |
| Reward for satisfying consumers' needs and wants | Profit |
| The contest between businesses to win customers. | Competition |
| Highways, drink water, and education | Public Wants |
| Hair cutting, and guitar lessons are examples of | Services |
| The term for tasks that people or machines perform for payment | Services |
| What is a shortage of resources called? | Scarcity |
| What is the total amount of money a government owes? | National Debt |
| What does gross domestic product measure? | Value of Goods and Services Produced by a Country |
| What is the term for figures used to measure an enconomic performance | Economic Indicators |
| What most businesses provide to consumers in order to satisfy their wants and needs | Goods and Services |
| What are the means to produce goods and services called | Factors of Production |
| What are the raw materials found in nature called? | Natural Resources |
| What is the labor force called? | Human Resources |
| What are the financial resources of a business called | Capital Resources |
| What does downsizing cause? | Unemployment |
| What are limited resources called? | Non-Renewable Resources |
| A person who breaks into a computer system for illegal purposes. | Hacker |
| A general increase in the cost of goods and services | Inflation |
| The amount of money a person earns or receives during a given period of time. | Income |
