Unit #1: Rational Decision Making

123456789101112131415161718
Across
  1. 8. This type of income is agreed upon by a legal contract between and consumer and producer, is paid at the completion of the job, and can be refused if the terms of the contract are violated.
  2. 9. This abbreviation stands for loan forgiveness that you could potentially receive if you have taken out a federal student loan, be employed by an eligible employer, and have made 120 payments on your loan from an approved payment plan.
  3. 10. This is financial aid that does not have to be paid back. Can include grants, scholarships, or work-study programs.
  4. 12. This type of income is guaranteed pay for every hour worked, is usually paid weekly or every two weeks, and is eligible for overtime pay.
  5. 14. In financial literacy, this is what we refer to a choice as. Because we are trading one thing for another.
  6. 15. This type of student loan has either a fixed or variable interest rate, is offered to undergraduate students, graduate students, and their parents, and does build interest while you are in school.
  7. 16. This cognitive bias makes you less like you risk losing money no matter the odds, because the pain of losing outweighs the joy of winning.
  8. 17. This cognitive bias makes you seek out information that you already believe to be true.
  9. 18. This form can be completed every year that a student is in college to help them see if they are eligible for federal student aid from the US government and/or colleges.
Down
  1. 1. This is money that can help you pay for college. It comes in many forms, and is available as long as you apply for it. Can be gifted or require repayment.
  2. 2. This type of financial aid has to be repaid, with interest.
  3. 3. This type of federal student loan is offered to the parents of undergraduate and graduate students, has a fixed interest rate, and does build interest while you are in school.
  4. 4. This is the gap between seemingly unlimited wants and limited resources.
  5. 5. This type of income is guaranteed pay for a job, is usually paid monthly or every two weeks, and is not eligible for overtime pay.
  6. 6. This type of federal student loan has a fixed interest rate, is offered to undergraduate and graduate students, and does build interest while are in school.
  7. 7. This cognitive bias makes you believe that an object that you own is worth more than it's market value.
  8. 11. This type of federal student loan has a fixed interest rate of 6.52%, is offered only to undergraduate students, and does not build interest while you are in school.
  9. 13. This is the non-monetary value of the alternative of your choice. Essentially, what you are missing out on by making another choice.
  10. 14. This type of income is considered "extra" money that is given as a reward for a good or service, is a one time offering, and can fluctuate depending on the time of day, week, year, etc.
  11. 18. This abbreviation stands for the cognitive bias that makes you believe that others might have rewarding experiences that you are missing out on.