1. Credit & Debt Management
Is all credit and debt bad?

2. What is debt?
Debt is an amount of money borrowed by one party from another.

4. What is credit? Credit is buying now and paying later.
You pay a fee when you use credit: this can include interest and/or service charges.

5. Money Tips
Pay cash—if you don’t have the money right now save up for it!
If you must borrow: compare the costs of borrowing and make the best choice for you
Keep within your budget: Don’t buy things on credit that you can’t afford to pay back.
Pay back more and pay more often.

6. Key Terms Loan-the money that you have borrowed
Lender-the person or organization that makes the loan
Principal-the amount that is lent to you
Term-the length of time of the loan

7. Money Math Annual Interest Rate * Term (in days) * Principal
365 (days in a year)
= Interest Charges

8. What’s it going to cost you?
Click Tools and Calculators, then University Cost and Debt Calculator