Official Credit Reports and Scores
If you have ever opened a credit card or taken out a loan, you will have a credit report. You can get one free copy of your credit report per year from each of the three credit reporting agencies: Equifax, Experian, and TransUnion. It is important to check your credit report because it can alert you to any fraudulent loans taken out in your name. Get your free credit reports here:
AnnualCreditReport.com (The official site for getting your credit report)
You will also have a credit score, which gives lenders an idea of how likely you are to repay your debts and whether you are reliable person to lend to. Unfortunately, your credit score is not included in your annual free credit reports. Click the link below for an article about where you can get access to your credit score:
Where to get your credit score
Identity Theft
For information on identity theft (and what to do if you suspect your identity has been stolen), check out the site below:
There are several common loan types you might be encountering for the first time. These include home loans, auto loans, and student loans.
Auto Loans
The Consumer Financial Protection Bureau page on auto loans can help first time car-buyers, with information on determining how much of a loan you can comfortably take on, what to do if you are having trouble making your car loan payments, and key loan terminology.
Consumer Financial Protection Bureau: Auto loans
Home Loans
Most people who purchase a home can't afford to pay the entire price up-front. In that case, home buyers will get a home loan. A home loan allows you to pay off your home over a period of time, most commonly 30 years. Loans vary in other ways, too. For some loans, the interest rate stays the same throughout the length of the lending period; in other cases, buyers choose a loan with an interest rate that changes over the course of the loan period. To read more about home loans, see this link:
Understanding home loan options
To make sure you're on the right track through the home shopping and purchasing process, see this resource from the Consumer Financial Protection Bureau:
Step-by-step checklist for home buyers
Paying for college: Student Loans, Scholarships, Grants, and more
Start here with Schoolcraft's page on financial aid:
Direct link to scholarships at Schoolcraft:
For more information on federal student loans, check out this site: