Across
- 3. is a loan backed up by collateral.
- 6. is the total cost of the loan in dollars and cents, including interest.
- 8. is something of value, such as the property purchased, that the creditor can take if the loan is not repaid.
- 11. application filled with detailed questions about you and your family to determine how much money it can loan the student.
- 13. government pays the interest on the loan while you are in school.
- 15. agrees to pay off a debt only if a debtor defaults.
- 17. is credit given for a specific amount of money or purchase.
Down
- 1. is to ensure they get their money back, many creditors require that a loan.
- 2. creditors charge a fee.
- 3. agrees to pay off a debt outright, in place of the debtor.
- 4. is a line of credit that can be used over and over again up to a certain limit.
- 5. is a person who borrows money or receives credit.
- 7. is failure to make loan payments on time or live up to the terms of a credit agreement.
- 9. annual precentage rate.
- 10. free application for federal student aid.
- 12. is a person who lends money or provides credit.
- 14. is an arrangement in which you receive cash, goods, or services now and pay for it later.
- 16. student remains responsible for the interest that builds on the loan while attending school.