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Which of the Following Statements Is FALSE

question 18

Multiple Choice

Which of the following statements is FALSE?


Definitions:

Debt Forgiveness

A situation in which a lender decides to cancel all or part of a borrower's outstanding debt, freeing them from their obligation to repay.

Credit Report

A detailed record of an individual's credit history from several sources, used by lenders to evaluate creditworthiness.

Credit Agencies

Organizations that collect, analyze, and distribute financial information about individuals and organizations to assist lenders in making credit decisions.

Work-Study Program

A college program that provides part-time jobs for students, allowing them to earn money to help pay education expenses.

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