Glossary

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

Savings Bonds : A bond is a certificate representing a debt. A U.S. Savings Bond is a loan to the government. The government agrees to repay the amount borrowed, with interest, to the bondholder. The two types of savings bonds are Series EE and inflation-adjusted I Bonds. Savings bonds are often purchased through payroll deduction or at financial institutions in denominations of $50 to $10,000.

Scam: A fraudulent or deceptive act.

scholarship: Awarded for a variety of reasons, often academic or athletic talent or other personal attributes or affiliations, scholarships do not need to be repaid.

Science and Mathematics Access to Retain Talent Grant : Federal education grants that award up to $4,000 per year to college students in their third and fourth years of study who are majoring in physical, life or computer science, engineering, math, technology or a critical foreign language. Students must begin with and maintain at least a 3.0 GPA in their major and must qualify for the Pell Grant, be enrolled full time and be a US Citizen.

Security: 1. A legal agreement that records a debt or equity obligation from a corporation, government, or other organization. Examples include stocks and bonds. 2. Collateral for a loan.

Selective Service Registration: To receive federal student financial aid if you are a male and between the age of 18 and 25 years of age and are not currently on active duty in the US Armed forces, you must register, or arrange to register with the Selective Service System.

Self-Actualization : A naturally occurring need to make the most of one's unique potential.

Self-Employment Tax: A tax for Social Security and Medicare primarily for individuals who work for themselves. It is similar to the Social Security and Medicare taxes withheld from the pay of most wage earners but may be higher because wage-earners' employers pay part of the tax for them.

Self-Esteem : The experience of being capable of meeting life's challenges and being worthy of happiness. People who feel good about themselves most of the time are said to have high self-worth and people who feel badly themselves are said to have low-self-worth, or low self-esteem.

Simple Interest : Interest calculated periodically on loan principal or investment principal only, not on previously earned interest.

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