Loans & Debt

Most people will probably borrow money in some form during their lives. This course covers the ins and outs of loans and debt. The first topic discusses the different types of debt and when debts may be considered “good” versus “bad” debts. Then the basic loan calculations are covered including principal, interest, payment intervals, terms, and amortization. The risks and consequences of various types of debt are covered in the third topic, with tips for mitigating debt risk.

The fundamentals of loan qualification are presented in topic 4, providing guidelines to remove some of the anxiety from the process of taking out a loan. Next, strategies for developing a workable debt payoff plan are discussed. Credit cards, their potential advantages and drawbacks, form the topic of the next section. Automobile loan and lease options, how lenders qualify borrowers for auto loans, and how car loans can fit into one’s financial plan are presented. Finally, the various types of home mortgages, their qualification requirements and terms are detailed, along with the process of negotiating a home loan.