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Know Your Credit
Good credit can open doors to buying a home or a car, but credit can also come with some risks if you do not understand the specific terms and conditions or abuse your power to make purchases with credit.
Before you obtain a credit card it is extremely important to weigh the benefits and the risks to make sure it is in your best interest to do so.
| Benefits | Risks |
|---|---|
| Helps in emergencies | High fees |
| Convenient | High interest rates |
| Easy for internet purchases | Short or no grace period |
| Required for car rental | Leads to impulse purchases |
| Safer than carrying cash | Can lead to bad credit if not used properly |
| Possible travel & cash back rewards | Confusing credit terms |
Financial Literacy Resources
- StudentAid.gov
- Direct Loan Consolidation (1-800-557-7392)
- ECSI (1-888-549-3274)
- Federal Student Aid Information (1-800-4-FED-AID)
- NSLDS for Students (1-800-4-FED-AID; studentaid@ed.gov)
- Student Loans Office at Johns Hopkins
- Budgeting - AAMC's First For Medical Education Fact Sheets
- AAMC Education Debt Manager for Matriculating Students
- Budgeting Worksheet for Students
Additional Resources
- AmeriCorps Program
- AAMC
- Central Scholarship Bureau
- StudentAid.gov (FAFSA, FSA ID Request, Federal Direct Loan Information; School Code: E00235)
- Heartland ECSI
- Make an Online Tuition Payment
- Mapping Your Future
- Maryland State Scholarship Administration
- National Student Clearinghouse
- NSLDS for Students (1-800-4-FED-AID)
- Selective Service Registration (18–26 year-old males)
- Social Security Administration
- U.S. Citizenship and Immigration Services