Types of Credit: Loan Fundamentals

Course overview
There are several reasons you might need to take out a loan, like for purchasing a house or a car. Maybe you need money to pay for college tuition or room and board, or perhaps you have a large home improvement project to finance. The point is, almost everyone takes out some kind of loan in their lifetime, even if it's just opening a credit card account. In any of these situations, it pays to know the basics of what a loan is and how it works. All loans come with several basic components, including the term, the interest rate, miscellaneous costs, and penalties. In this course, we'll take a look at each one in more detail.
The individuals involved in the development and promotion of this course do not receive any compensation or financial benefits outside of their regular employment for their work on this course.