Glossary

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

National Credit Union Association (NCUA): The regulator and primary enforcement authority for federal credit unions which is backed by the federal government..

National Student Loan Data System (NSLDS) : NSLDS is database for federal student financial aid where students can find out about the aid they have received. NSLDS receives data from schools, guaranty agencies and US Department of Education programs. By using your PIN you can get information on all outstanding loans, Pell grant amounts and other federal aid. NSLDS www.nslds.ed.gov

Negative Emotion : Feelings that inhibit or block the ability to feel pleasure and joy for the longest period of time.

Net Asset Value: The price of a share in a mutual fund. It is equal to the total value of the fund's securities divided by the number of shares outstanding.

Net worth: A measure of a person's financial condition at a given time, equal to what that person owns (assets) minus what that person owes (liabilities).

Nonforfeiture Benefits: A clause in an insurance policy that allows for the insured to receive all or a portion of the benefits or a partial refund on the premiums paid if the insured misses premium payments, causing the policy to lapse.

Non-Qualified Withdrawal: Means a withdrawal from an Account other than a Qualified Withdrawal.

Open Enrollment Period: A defined period (generally one month) during which eligible employees may sign up for insurance coverage or change their existing coverage. Enrolling during this period does not generally require proof of insurability.

Open-end credit: An agreement with a financial institution that gives a borrower the use of money up to a specified limit for an indefinite time as long as repayment of the outstanding balance and finance charge proceeds on schedule; also known as revolving credit or a revolving line of credit. A credit card is an example.

Opportunity Cost : The value of possible alternatives that a person gives up when making one choice instead of another; also known as a trade-off.

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