Voucher Plans Provide a Certificate from the State or Local

question 54

True/False

Voucher plans provide a certificate from the state or local school district that may be applied to subsidize tuition at a public, private, or religious school of the parents' or students' choice.

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Definitions:

Collateral

Assets that are offered to secure a loan or other credit and that can be seized by the lender if the loan is unpaid.

Secured Parties

Creditors who have the right to seize collateral if a debtor fails to fulfill their obligation under a secured agreement.

Unsecured Creditors

Creditors who have extended credit without the protection of collateral, making their claims on a debtor’s assets secondary to those of secured creditors.

Collateral

Property or assets pledged by a borrower to secure a loan or other credit, and subject to seizure on default.