Unit 5 study guide (part 2)

Question 1

Costs that occur repeatedly, but vary in amount from month to month, are called ______expenses.

Answer 1

Flexible

Question 2

Costs that are the same each month are called______expenses.

Answer 2

Fixed

Question 3

_________income is extra money that is not required to meet your needs.

Answer 3

Discretionary

Question 4

The FAFSA cannot be submitted until after January 1st of your_______year of high school

Answer 4

Senior

Question 5

A grant or a ________ should be sought before a loan.

Answer 5

Scholarship

Question 6

In a ________ loan, the interest is paid by the federal government

Answer 6

Subsidized