Higher Education

In this everfi module I learned many new things. I learned a few things about loans. For example, a FAFSA is the Federal Application for Student Aid, which can be submitted online or by mail. And by using the FAFSA form you can apply for federal student loan and federal work study-program. I also learned about interest rate. A federal student loan will offer the lowest interest rate.

Renting vs. Owning

In this everfi module, Renting vs. Owning, I learned that owning a house can be less expensive than renting a house. For me, renting a house would be better because I will save more money. Owning a house can start over 500,000 dollars. And renting a house can be 1,200 dollars. I also learned that owning a house means you will have to have a mortgage. To get a mortgage you will have to go to the bank and ask for a loan. You'll first need to make a down payment. Based on your financial history the bank can decide how much money to give you. Also if you don't pay your mortgage the bank has the right to take your house. On the other hand renting a house isn't that complicated. Therefore, in my opinion, later on in life I rather rent a house.