Glossary

Glossary definitions provided in part by the Jump$tart Coalition for Personal Financial Literacy.

Account Owner: When used in reference to a 529 plan, refers to the individual or entity signing the Account Application and opening an Account.

ACG: Academic Competitiveness Grant - A Federal Grant that is awarded based on a rigorous high school curriculum. To be eligible for this grant a student must meet the guidelines for Pell Grant eligibility, be enrolled full time and be a US citizen. $750 is awarded the first year and $1,300 is awarded the second year.

Activating Event : Any situation or event that precedes and appears to &"cause"; a thought, feeling or behavior, Noted as an "A" in the Rational-Emotive model, A-B-C-D. (See Rational-Emotive model)

Activities of Daily Living: Routine activities that people tend do every day without needing assistance. There are six basic ADLs: eating, bathing, dressing, toileting, walking and continence. An individual's ability to perform ADLs is important for determining what type of long-term care is required.

Actual Cash Value Homeowners Insurance: Type of homeowners insurance under which the insurer deducts accumulated depreciation from the replacement cost of the damaged or destroyed asset before paying the claim.

Adjusted Gross Income (AGI): Adjusted Gross income - Total income, including wages, interest, capital gains, income from retirement accounts and alimony paid to you; adjusted downward by specific deductions, including contributions to deductible retirement accounts, alimony paid by you; but not including standard and itemized deductions.

Advertising: An announcement-usually paid-of a product's or service's benefits that is intended to encourage its purchase.

AGI: Adjusted Gross income - Total income, including wages, interest, capital gains, income from retirement accounts and alimony paid to you; adjusted downward by specific deductions, including contributions to deductible retirement accounts, alimony paid by you; but not including standard and itemized deductions.

Alternative Loan: These credit-based loans can help cover the difference between other financial aid and the cost of education. Interest rates are variable and set by lenders. Generally, you are limited to borrowing up to the cost of attendance minus any other financial aid, and most lenders offer several repayment options. Also known as Private Loans.

Alternative Student Loan: These credit-based loans can help cover the difference between other financial aid and the cost of education. Interest rates are variable and set by lenders. Generally, you are limited to borrowing up to the cost of attendance minus any other financial aid, and most lenders offer several repayment options. Also known as Private Loans.

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