A demand note is a type of financial instrument that represents a debt owed by one party to another. It is a written promise to repay a specified sum of money at a certain...

An Individual Retirement Account (IRA) is a type of account that is specifically designed to help individuals save for retirement. IRAs offer tax advantages and allow individuals...

The Federal Direct Student Loan Program provides low-interest loans to eligible students to help pay for the cost of post-secondary education. The program is administered by the US...

Fair market value (FMV) is the price at which an asset would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell...

A grace period is a specified period of time after the due date of a payment during which a borrower can make the payment without incurring any additional charges or penalties...

Achieving financial stability requires sacrifice and persistence. The beginning of a new year is always an ideal time to reflect on your financial goals and make resolutions to improve...

A creditor is any person or organization to whom money is owed. This can include banks, individuals, businesses and government entities. When a consumer takes out a loan...

A 401(k) is a retirement savings plan sponsored by an employer. It lets workers save and invest a piece of their paycheck before taxes are taken out. Taxes aren't paid until...

A loan officer is a financial professional who works for a bank, credit union, or other lending institution. Their primary responsibility is to evaluate loan applications and determine...