What is a Loan? A Simple Explanation of Borrowing for Kids, Teens and Beginners

Introduction to Borrowing and Loans for Kids and Teens This video explains the concept of a loan in a simple, concise way for kids and beginners. It could be used by kids & teens to learn about loans, or used as a money & personal finance resource by parents and teachers as part of a …

Comparison: Federal Student Loans vs Private Student Loans

When we discussed student loans, you mentioned federal and private student loans. But what is a Federal Student Loan? Federal student loans are funded by the federal government. They have a fixed rate of interest, and their terms and conditions are set by law. Students with a financial need may even qualify for a subsidized …

What is a Student Loan?

What is a Student Loan? A student loan is a loan that you can take to pay for your college education. With the cost of college education skyrocketing, student loans help people pursue their higher education dreams even if they cannot save enough to foot the entire bill. A student loan can be used for …

What is Foreclosure and How Can You Prevent It?

What is Foreclosure? Foreclosure is a legal process where your home is put up for sale by the lender. It happens when your home is used as a collateral for a mortgage, but you default and aren’t able to pay back. Then the lender can foreclose your home to recoup the remaining loan amount with …

What is a Credit Card? A Simple Explanation for Kids, Teens and Beginners

Introduction to Credit Cards for Kids and Teens This video explains the concept of credit cards in a simple, concise way for kids and beginners. It could be used by kids & teens to learn about them, or used as a money & personal finance resource by parents and teachers as part of a Financial …

Comparison: Credit Cards vs Debit Cards – Simple Pros and Cons for Kids

Comparison: Credit Cards vs Debit Cards for Kids and Teens This video does a credit card vs debit card comparison in a simple, concise way for kids and beginners. It could be used by kids & teens to learn about the advantages and disadvantages of each, or used as a money & personal finance resource …

Comparison: FHA Loan vs Conventional Mortgage

As we’ve discussed earlier, both Conventional Mortgages and FHA Loans help us buy a home through a loan. We make a down payment, and repay the loan principal, interest, etc through monthly payments. But what are the differences between them? The main difference is in terms of credit score and minimum down payment requirements. …

Comparison: Home Equity Loan vs Home Equity Line of Credit HELOC

We have talked about home equity loan and home equity Line of Credit or HELOC in the past. But can you please quickly summarize these for me? Both home equity loan and home equity Line of Credit let you borrow against your home equity. Both could give you access to a large amount of …

What is a Home Equity Loan or a Second Mortgage?

What is a Home Equity Loan? It is a loan where you borrow money using your home equity as collateral. It is also known as a second mortgage. How does a Home Equity Loan work? A home equity loan is like a regular loan, where you get all the loan money upfront. You repay …

What is Home Equity Line of Credit or HELOC?

What is Home Equity Line of Credit? A home equity line of credit or HELOC is a revolving line of credit, based on the equity you have built in your home. How does Home Equity Line of Credit work? It is very similar to a credit card borrowing limit – the lender fixes the …