How Are You Paying for College This Term? Considering What

question 47

Essay

How are you paying for college this term? Considering what you learned about financial aid in this chapter, are you likely to do anything different when planning how to pay your tuition throughout the rest of your time in college? If so, what changes will you make and why? If you won't be making any changes, why not?

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Definitions:

Cash Account

A cash account is a brokerage account that requires the investor to pay the full amount for securities purchased and to receive full delivery of the securities sold.

Two-Column Journal

A fundamental accounting record with two columns used for debits and credits to record financial transactions.

Debit

An accounting entry that increases an asset or expense account, or decreases a liability or equity account. It is positioned on the left side of an account ledger.

Credit

An accounting entry that increases the balance of liabilities and equity accounts or decreases the balance of an asset or expense account.