2 RULES 1.Divide room into teams. Elect one speaker per team. 2.One team/one selection per turn. 3.15 seconds for an answer. Only team leader may speak.

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Presentation transcript:

2 RULES 1.Divide room into teams. Elect one speaker per team. 2.One team/one selection per turn seconds for an answer. Only team leader may speak for team. 4.No penalty for wrong answer. No follow-on right for correct answer. 5.Teacher keeps score. 6.Judges’ decisions are final.

YOU BET YOUR ASSETS ALPHABET SOUP NAME CALLING TIME’S UP! CREDIT TERMS POTPOURRI On to Final Jeopacardy!

4 A Production of CARE PROGRAM Graphic Design by Bonnie McDuffie

5

6 THE FINAL JEOPACARDY TOPIC IS “WEB SITES” Before we go to the next slide and the final Jeopacardy answer, each team must announce how much it is wagering.

7 THE FINAL JEOPACARDY ANSWER IS: A WEBSITE YOU CAN VISIT TO GET INFORMATION ABOUT SCHOLARSHIP PROGRAMS

8 FASTWEB.COM; OR COLLEGEANSWER.COM; OR COLLEGEBOARD.COM; OR GOCOLLEGE.COM; OR SCHOLARSHIPHELP.ORG; OR FINAID.ORG; OR STUDENTSCHOLARSHIPSEARCH.COM Click Here Game Over

9 TYPE OF BANKRUPTCY IN WHICH A TRUSTEE SELLS ALL YOUR ASSETS TO PAY CREDITORS

10 WHAT IS CHAPTER 7?

11 TYPE OF BANKRUPTCY IN WHICH YOU WRITE A PLAN IN WHICH YOU HAVE 3-5 YEARS TO PAY OFF YOUR CREDITORS

12 WHAT IS CHAPTER 13?

13 STANDARD LENGTH OF TIME TO REPAY A FEDERAL STUDENT LOAN

14 WHAT IS 10 YEARS?

15 IN THE BANKRUPTCY WORLD, STUDENT LOANS, LUXURY CONSUMER DEBTS OVER $500, AND DEBTS INCURRED AS A RESULT OF FRAUD HAVE THIS IN COMMON

16 WHAT ARE GROUNDS FOR DENYING A BANKRUPTCY DISCHARGE?

17 THE AMOUNT OF THE ILLINOIS HOMESTEAD EXEMPTION (I.E., THE AMOUNT OF YOUR HOME’S VALUE THAT A BANKRUPTCY TRUSTEE CANNOT SEIZE)

18 WHAT IS $15,000 A PERSON?

19 THESE INITIALS REFER TO THE FEDERAL FORM YOU MUST FILL OUT TO GET FEDERAL LOANS OR GRANTS

20 WHAT IS “FAFSA” (FREE APPLICATION FOR FEDERAL STUDENT AID)? Optional Trivia

21 EVERYONE PLAYS. 200 POINTS FOR FIRST CORRECT ANSWER WHAT IS THE FIRST DAY FOR SUBMITTING THE FAFSA APPLICATION FOR COLLEGE STARTING FALL 2012 JANUARY 1, 2012

22 THE WEB SITE WHERE YOU CAN GET A FREE COPY OF YOUR ANNUAL CREDIT REPORT

23 WHAT IS

24 THIS IS A WEBSITE WHERE YOU CAN COMPARE CARD TERMS AND SHOP FOR THE CARD BEST SUITED TO YOU

25 WHAT IS CARDHUB.COM OR CARDTRAK.COM OR LOWCARDS.COM OR CARDRATINGS.COM? Optional Extra Points

26 All teams can play. Every team answers. 1 st team with right answer wins. Winner gets 200 points. What are the initials of the federal consumer agency set up in 2010 to police credit cards, student loans and other financial products? CFPB (stands for Consumer Financial Protection Bureau)CFPB (stands for Consumer Financial Protection Bureau)

27 THE INITIALS FOR THE FEDERAL EDUCATIONAL LOAN PROGRAM FOR MAKING LOANS TO MOM AND DAD

28 WHAT IS PLUS (PARENT LOANS FOR UNDERGRADUATE STUDENTS)?

29 “FICO” STANDS FOR THE NAME OF THIS COMPANY WHICH DEVELOPED THE ALGORITHM USED IN COMPUTING THE CREDIT SCORE

30 WHAT IS FAIR ISAACS CORPORATION? Optional Extra Points

31 ALL TEAMS CAN PLAY. EVERYONE GIVES ANSWER. 1 ST TEAM WITH CORRECT ANSWER WINS. WINNER GETS 200 POINTS. THIS QUESTION WAS NOT COVERED IN TODAY’S PRESENTATION. WHAT IS THE RANGE OF FICO SCORES? 300 to 850

32 THE NAME FOR THE PRIMARY FEDERAL GRANT PROGRAM

33 WHAT IS THE PELL GRANT?

34 THE NAME FOR PRIVATE LOAN INTEREST RATES THAT GO UP AND DOWN DURING THE LIFE OF THE LOAN

35 WHAT IS THE “FLOATING RATE"?

36 THE INDUSTRY NAME FOR CREDIT CARD USERS WHO CONSISTENTLY CARRY SOME PORTION OF THEIR MONTHLY BILL INTO THE NEXT MONTHLY CYCLE

37 WHO ARE REVOLVERS?

38 THE NAME OF ONE OF THE THREE TYPES OF FEDERAL LOANS THAT ARE MADE TO STUDENTS

39 WHAT ARE STAFFORD SUBSIDIZED LOANS OR STAFFORD UNSUBSIDIZED LOANS OR PERKINS LOANS?

40 YOUR PARENTS MUST HAVE STERLING CREDIT FOR THE FEDERAL LOAN WITH THIS NAME

41 WHAT ARE PLUS LOANS?

42 LENGTH OF TIME YOUR FEDERAL LOAN CAN BE LATE BEFORE GOVERNMENT DECLARES A DEFAULT

43 WHAT IS 9 MONTHS?

44 TYPICAL NUMBER OF YEARS CHAPTER 13 DEBTOR HAS TO DEVOTE ALL HIS/HER INCOME TO PAYING CREDIT UNDER A PLAN

45 WHAT IS 3 (CAN GO TO 5)?

46 LENGTH OF TIME YOU HAVE TO DO PUBLIC INTEREST WORK IF YOU WANT FEDERAL STUDENT LOANS FORGIVEN

47 WHAT IS 10 YEARS?

48 LENGTH OF TIME AFTER YOU BORROW MONEY ON A PRIVATE STUDENT LOAN BEFORE YOU HAVE TO START MAKING PAYMENTS

49 TRICK QUESTION: WHAT IS IMMEDIATELY?

50 ACCORDING TO SOME COMMENTATORS, YOUR TOTAL STUDENT LOAN DEBT SHOULD NEVER EXCEED THE SALARY YOU EARN FOR THIS PERIOD OF TIME AFTER YOUR GRADUATE FROM COLLEGE

51 WHAT IS 1 YEAR?

52 A.P.R. STANDS FOR THIS TERM

53 WHAT IS ANNUAL PERCENTAGE RATE?

54 ACCORDING TO SMARTMONEY.COM, A GOOD CARD FOR STUDENTS

55 WHAT IS (A) PENTAGON FEDERAL CREDIT UNION VISA PLATINUM CASHBACK REWARDS OR (B) CITI MTVU PLATINUM SELECT VISA CARD FOR COLLEGE STUDENTS OR (C) CAPITAL ONE’S JOURNEY STUDENT REWARDS CARD?

56 ACCORDING TO CONSUMER REPORTS, THESE TYPES OF ORGANIZATIONS ARE OVERALL THE BEST PLACE FOR CONSUMERS TO FIND A CREDIT CARD

57 WHAT ARE CREDIT UNIONS?

58 DAILY DOUBLE

59 THE AVERAGE FEE YOU HAVE TO PAY TO GET A PRIVATE STUDENT LOAN

60 WHAT IS $900?

61 THE PERCENTAGE OF YOUR INCOME THAT IS THE CAP ON REPAYMENTS YOU HAVE TO MAKE FOR FEDERAL STUDENT LOANS

62 WHAT IS 10%? Optional Trivia

63 The percentage of student loan debt that debtors have been able to get discharged in bankruptcy (within 5%)

64 WHAT IS 1%?

65 THE THREE MAJOR CREDIT REPORTING BUREAUS

66 WHAT ARE EXPERIAN, EQUIFAX AND TRANSUNION?

67 AT LEAST THREE OF THE FACTORS USED IN CALCULATING THE FICO SCORE

68 WHAT ARE (1) PAYMENT HISTORY, (2) LOW CARD BALANCES, (3) LONG CREDIT HISTORY, (4) CREDIT INQUIRIES AND (5) DIVERSE CREDIT HISTORY?

69 WITHIN $5,000, THE ESTIMATED AVERAGE YEARLY COST OF COLLEGE

70 WHAT IS $21,889?

71 ALL TEAMS CAN PLAY. EVERYONE GIVES ANSWER. 1 ST TEAM WITH CORRECT ANSWER WINS. WINNER GETS 200 POINTS. WHAT IS A GREAT WEB SITE TO VISIT FOR INFORMATION ABOUT STUDENT AID (NOT JUST SCHOLARSHIPS)?

72 THE ONE FEDERAL LOAN PROGRAM FOR LOANS TO STUDENTS THAT IS NOT NEED-BASED

73 WHAT ARE STAFFORD UNSUBSIDIZED LOANS?