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All terms starting with "F"
The acronym FAFSA stands for Free Application for … moreThe acronym FAFSA stands for Free Application for Federal Student Aid. This application was developed by the office of Federal Student Aid, a subsidiary of the U.S. Department of Education, and serves as the primary gateway for students to receive most means of financial aid, whether it comes from the federal government in the form of a Pell Grant or Stafford Loan, a state program, or an institution such as a college, university, or private organization.
The FAFSA incorporates information about an applicant's financial circumstances in order to determine their level of need and, if the application is filled out online, will even retrieve an applicant's tax information directly from the Internal Revenue Service in order to simplify the process. The FAFSA does not take into account factors such as race, religion, or sexual orientation. The office of Federal Student Aid begins accepting FAFSAs January 1 of each year, and aid is dispersed on a first-come first-served basis.
The FAFSA incorporates information about an applicant's financial circumstances in order to determine their level of need and, if the application is filled out online, will even retrieve an applicant's tax information directly from the Internal Revenue Service in order to simplify the process. The FAFSA does not take into account factors such as race, religion, or sexual orientation. The office of Federal Student Aid begins accepting FAFSAs January 1 of each year, and aid is dispersed on a first-come first-served basis.
A credit credit score between 620 and 659. Should … moreA credit credit score between 620 and 659. Should you be unaware of your credit score, you can use our free credit estimator. Alternatively, you most likely have fair credit if:
- You don't have a credit card under your own name with a limit above $5,000 or
- You've been over 60 days late on two or more major bills (i.e. credit card, loan, medical bill) in the last 12 months or
- You've defaulted on a credit card or declared bankruptcy within the past five years
Federal legislation enacted as an amendment to the … moreFederal legislation enacted as an amendment to the Truth in Lending Act. The Fair Credit Billing Act protects consumers from unfair billing practices and provides a mechanism for addressing billing errors.
The mechanism through which the federal government … moreThe mechanism through which the federal government lends money to students and parents for educational costs after high school. While the government serves as the lender for this program, private companies act as intermediaries and service the loans.
Federal direct student loans can either be subsidized or unsubsidized, depending on the particular applicant's level of financial need. Interest rates vary depending on whether the loan is subsidized or not as well as whether it is for an undergraduate student, a graduate student, or the parents of a dependent undergraduate student.
There are a number of different repayment plans that federal direct student loan recipients can choose from, including a fixed monthly payment, a graduated plan where the monthly payment amount increases over time, and a plan where the amount of one's payment is based on their income.
Federal direct student loans can either be subsidized or unsubsidized, depending on the particular applicant's level of financial need. Interest rates vary depending on whether the loan is subsidized or not as well as whether it is for an undergraduate student, a graduate student, or the parents of a dependent undergraduate student.
There are a number of different repayment plans that federal direct student loan recipients can choose from, including a fixed monthly payment, a graduated plan where the monthly payment amount increases over time, and a plan where the amount of one's payment is based on their income.
A central bank that monitors and influences the to … moreA central bank that monitors and influences the total money and credit supply through its 12 regional offices.
The Federal Reserve Board sets interest rates, mai … moreThe Federal Reserve Board sets interest rates, maintains the flow of cash to local and regional banks, clears checks, provides deposit insurance, and helps guarantee the stability and security of the U.S. banking system.
FICO:
The most widely known type of credit score, FICO i … moreThe most widely known type of credit score, FICO is a credit score tha is developed by the Fair Isaac Corporation (FICO).
It takes values between 300 and 850. The higher the better.
It takes values between 300 and 850. The higher the better.
A numeric score (between 300-850) that indicates w … moreA numeric score (between 300-850) that indicates whether your credit history is good or bad. The FICO Score is comprised of the following five weighted factors: 1) Payment History 2) Amounts Owed 3) Length of Credit History, 4) New Credit, 5) Types of Credit Used.
While there are numerous other credit scores in use in the United States, the FICO Score is undoubtedly the one favored by the most financial decision makers, such as lenders and credit card underwriters. In addition, most consumers are not aware of the fact that everyone has three different FICO Scores, one based on each of their three major credit reports (Experian, Equifax, and TransUnion).
While there are numerous other credit scores in use in the United States, the FICO Score is undoubtedly the one favored by the most financial decision makers, such as lenders and credit card underwriters. In addition, most consumers are not aware of the fact that everyone has three different FICO Scores, one based on each of their three major credit reports (Experian, Equifax, and TransUnion).
A fiduciary is someone who is entrusted to carry o … moreA fiduciary is someone who is entrusted to carry out someone else's duties. A fiduciary is legally expected to comport himself or herself beyond reproach for loyalty, good faith, and diligence. A Chapter 11 debtor in possession serves as a fiduciary for the creditors in the bankruptcy case, and not for the debtor's shareholders.
Monies charged to card holders by credit card comp … moreMonies charged to card holders by credit card companies or loan providers. These include interest, transaction fees, and service fees.
A business that makes loans to people who cannot q … moreA business that makes loans to people who cannot qualify for credit at a bank or credit union.
A mathematical model describing inter-relationship … moreA mathematical model describing inter-relationships between a company's financial variables. The basic tool for budgeting and budget planning. It is also used for risk analysis and what-if experiments.
A legal proceeding that reverts ownership of a pro … moreA legal proceeding that reverts ownership of a property from the buyer to the loan holder. When a property owner has defaulted on a mortgage or other installment agreement, the bank or loan company seizes and sells the property to pay off the debt.
Many banks charge a special fee for ATM transactio … moreMany banks charge a special fee for ATM transactions made outside the U.S., just as they do for foreign debit card transactions. The rationale given is that the fees cover the costs of currency conversion and mitigate the increased risk of fraud that comes with international use of an ATM or debit card.
The amount of the foreign ATM fee can be structured in several ways, and depends not only on the policies of the bank issuing the ATM/debit card, but also on the terms of the bank that owns the ATM. For example, the bank issuing the ATM/debit card may charge a flat fee of $1 to $5 for each transaction, plus a percentage, typically 1% to 3%, of the amount withdrawn from the ATM. Some banks charge only one of those fees, but many charge both. In addition to that, the foreign bank may also charge a fee for the use of its ATM.
The amount of the foreign ATM fee can be structured in several ways, and depends not only on the policies of the bank issuing the ATM/debit card, but also on the terms of the bank that owns the ATM. For example, the bank issuing the ATM/debit card may charge a flat fee of $1 to $5 for each transaction, plus a percentage, typically 1% to 3%, of the amount withdrawn from the ATM. Some banks charge only one of those fees, but many charge both. In addition to that, the foreign bank may also charge a fee for the use of its ATM.
A fee assessed for purchases made while traveling … moreA fee assessed for purchases made while traveling outside of the United States OR through merchants located outside of the U.S.
Lying to induce someone to part with either someth … moreLying to induce someone to part with either something of value or a legal right, or, a person who defrauds, or who is not what he or she purports to be.
You are allowed to check your credit once each yea … moreYou are allowed to check your credit once each year from each of the three main credit reporting agencies.
Online bill pay is part of online banking. It allo … moreOnline bill pay is part of online banking. It allows you to pay individuals or companies electronically and is easier and more secure than paying by check.
Usually, checking accounts are classified as having Free Online Bill Pay if they allow at least 10 bill payments a month without a charge.
Usually, checking accounts are classified as having Free Online Bill Pay if they allow at least 10 bill payments a month without a charge.
There is no official definition for "full coverage … moreThere is no official definition for "full coverage" car insurance.
Many people use this term to mean the combination of liability, collision and comprehensive insurance. Another common definition is all the types of coverage that are required by law, which varies from state to state, plus collision and comprehensive insurance required by the lender on a car loan or lease.
Read more to learn how to make sure you are fully covered.
Many people use this term to mean the combination of liability, collision and comprehensive insurance. Another common definition is all the types of coverage that are required by law, which varies from state to state, plus collision and comprehensive insurance required by the lender on a car loan or lease.
Read more to learn how to make sure you are fully covered.
The final step of a credit card transaction, when … moreThe final step of a credit card transaction, when a merchant gets its money from a consumer's credit card purchase, minus any transaction / interchange fees the merchant has to pay to their bank, the credit card network, and your credit card company.