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Financial Literacy Module 3 Study Guide Questions and Answers 2024
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Financial Literacy Module 3 Study Guide
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Financial Literacy Module 3 Study GuideEarning Potential is 100% determined by who? - answer You
5 ways Career impacts your life- - answer Reach your financial goals faster and more
easily, future jobs and pay, health and happiness, lifestyle, and how much money
Jobs required education in 2018 - answer Two-thirds of all jobs will require at least
some college 2018
What percent of ALL JOBS will require SOME college or higher? - answer17%
Apprenticeship - answer programs combine on the jobs training with classroom
instruction in a two four year program
What percent of US military jobs have a civilian counterpart? - answer86%
Cost of college? - answer$30,000-$40,000 (eight times as many students drop out of
degree and certificate programs due to finance and debt than because of grades. you
must be enrolled at least half time in degree granting program to qualify)
Eight times as many students drop out of degree and certificate programs due to
______ and ______ rather than because of grades. - answer Finances and Debt
3 Costly College Traps - answer Catch-up Classes, Merry-Go-Round, and Campus-
Hopping
Federal Loans - answer Federal government offers several student loan programs help
you get the education you need.
Loan Deferment - answer Allows you to put off making payments while being school,
but the interest still accumulates and compounds, increasing the overall amount you
owe. You must be enrolled at least half time in degree granting program to qualify.
Defaulting - answer A federal student loan is serious business, hurting your chances for
using credit in the future.
The total amount of federal and state taxes you'll pay each year depends on what
conditions? - answer Current income tax rates, your gross income, filing status (single
or married), # of children you have, employee benefit programs you participate in that
reduce or defer taxes, and specific deductions you record on your IRS form 1040 tax
return
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