Personal Finance

If you ever plan to take out a loan or you currently owe money to another party, you need to understand credit and credit reports. Credit is the ability of a borrower to receive something (often money) in exchange to return the money to the lender at a later point in time. For example, when you buy a car, a bank (lender) provides the money to you (borrower). In exchange, the lender charges you interest. The interest charged is determined by several factors based upon your credit report. Therefore, it is important for you to monitor your credit report. Let’s take a minute to provide greater insight on credit and credit reports. Author: Jesse Ketterman, and Patricia Maynard; Title: Understanding Credit and Credit Reports (FS-1115).

The federal government offers the option of Public Service Loan Forgiveness to ease the burden of student loan payments. This is a program designed to provide an incentive to attract job seekers to employment in the much needed non-profit and government sectors. Those who qualify for PSLF can have their student debt balance paid in full by the federal government. However, there are many rules to follow. Author: Dorothy Nuckols; Title: Public Service Loan Forgiveness: Know the Qualification Rules (EBR-50)