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Best College Loan Advice: 9 Tips for Borrowing for College – CBS News #montel #williams #loans


#loans for college
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Best College Loan Advice: 9 Tips for Borrowing for College

  • Lynn O’Shaughnessy
  • MoneyWatch

Last Updated Apr 13, 2010 4:15 PM EDT

College loans . Yes, that time has arrived when parents of returning and new college students start thinking about applying for college loans. It’s also crunch time for graduating college students, who must begin repaying their college loans .

Unfortunately, many families get into trouble when they start shopping for college loans . When the college admission process is over, many parents are so relieved that they fail to do their homework before choosing college loans. College graduates also don’t give much thought to how they will tackle their college debt.

To help out families, who must borrow to pay the college, I’ve assembled some of my past college blog posts on student loans. Some of the posts will help you pick the best college loans and others will help those who must soon begin repaying their student loans.

There is no one right answer, but you will find links in this post to calculators that can help parents determine what level of college debt they can handle.

Students should limit their borrowing to federal loans only, which are safer and offer more protections than private student loans.

Federal loans are your best bet, but unfortunately many families gravitate to private loans because they don’t understand the difference.

In the early 1990s, only one out of every three college students took out college loans, but now well over half do.

There are federal student loan repayment opportunities that can dramatically shrink the monthly tab of eligible borrowers.

Don’t attend a college that has a high student loan default rate. Here’s how to find those default rates.

If you are struggling as you attempt to repay your student loans, here are some options.

Be extra careful about repaying student loans on time. The penalties can be astronomical.


9 Steps To Getting A Car Loan On Damaged Credit #private #loans #for #college


#poor credit auto loans
#

9 steps to a car loan on damaged credit

1 of 11

9 steps to a car loan on damaged credit

Bad credit doesn’t mean you can’t buy a car, and doesn’t automatically mean you can’t get a car loan with terms that don’t break your monthly budget.

Like everything else, “bad” is a matter of opinion and degree. If the score is borderline, some lenders might still smell a good prospect while others, with slightly different criteria, would see more risk.

Most important: Shop around. While the average interest rate for borrowers with good credit is between 4% and 5%, subprime borrowers will pay an average of 10% to 13%, depending on their credit score. Some lenders can go higher than that, according to Phil Reed, senior consumer advice editor for Edmunds.com. “You don’t want to have the attitude of ‘just get me a loan.’ There are still deals to be made.”

It’s also a good time to be looking. Delinquencies on auto loans dropped in the first quarter of 2015 compared with a year ago, so lenders are more confident, leading to a rise in subprime loans.

Here are nine strategies to help you find the best subprime auto loan.

Shopping for a car or just a car loan? Download Bankrate’s auto app for price comparisons, loan calculations and more.


Nikos Hosting CS Serveri Srbija – Counter-Strike 1 #cs #1.6 #hosting #srbija,cs #source,samp,hosting,srbija,rs,srpski,kgb,bgd,usa,germany,lite,cheap,jeftino,counter-strike #1.6 #hosting, #counter-strike #source #hosting, #san #andreas #multiplayer #hosting, #32 #slota #900 #din, #9 #eur, #cs #1.6 #hosting, #cs #source #hosting,low #prices,jeftini #cs #1.6 #serveri


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Nikos Hosting

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Counter-Strike Serveri

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Nudimo preko 15 razlčitih modova za Counter-Strike 1.6 i Source servere. Ukoliko želite da se uverite zbog čega je Nikos Hosting jedan od najboljih Game Hosting provajdera u Srbiji probajte neke od naših servera.

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HDFC cuts home loan rate to 9. 9%, EMIs to come down – TOI Mobile #car #loan #calculator #australia


#hdfc home loan
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HDFC cuts home loan rate to 9.9%, EMIs to come down

Apr 10, 2015, 07.28PM IST TNN [ Mayur Shetty ]

HDFC on Friday announced cut in home loan rate by 0.20 per cent to 9.9 per cent.

MUMBAI: The country’s largest housing finance company HDFC Limited has brought down its lending rate by 20 basis points with effect from April 13. Following the reduction the bank will extend loans at 9.9% which is lower than what is being charged by State Bank of India.

The reduction in interest rates will bring down the equated monthly installment on a Rs 50 lakh loan (20 year tenure) by Rs 663. The equated monthly installment on the loan which was Rs 48583 under the earlier rate will come down to Rs 47,920.

In a statement issued here on Friday, HDFC said that the reduction would benefit all customers and the interest cost for existing borrowers will also go down.

The country’s largest bank SBI offers home loans at 9.95% for women and 10% for all other borrowers.

Although ICICI Bank has brought down its base rate by 25 basis points it is not clear whether there will be a corresponding reduction in its home loan rate which stood at 10.1%. Sources said that the bank is reworking spreads on its home loans which would be announced on Saturday.

Speaking to ToI, Keki Mistry, vice-chairman and CEO, HDFC said that the reduction in lending rates was an outcome of the reduction in the cost of funds for the corporation.

HDFC has also reduced interest rates on its fixed deposits across maturities. The reduction in the RPLR will also be applicable on loans to Non-Resident Indians (NRIs).

All major banks had reduced their interest rates this week despite Reserve Bank of India governor Raghuram Rajan keeping rates on hold in his monetary policy on April 7. While Rajan held rates, he admonished banks for not passing on the earlier rate cuts to borrowers.


9 things you must know about debt consolidation #student #private #loans


#credit card consolidation loan
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9 things you must know about debt consolidation

Looking for a way to cope with overwhelming debt? Credit counseling agencies may offer some relief. Their debt consolidation programs, called debt management plans, can help you get back on track — but they can also be unnecessary and even detrimental when done through a poorly run organization or for the wrong reasons.

Here’s what you need to know about consolidating accounts through an agency.

1. It’s a third-party payment system. Tired of juggling many different accounts? With a debt management plan, you make one payment to the credit counseling agency, which distributes the money to your creditors until they are paid in full. These agencies do not make loans, nor do they settle debts. Instead, they have preset arrangements with most financial institutions, many of which lower interest rates and fees, so more of your payment goes toward the balance rather than finance charges. However, if you just happen to have accounts with creditors that don’t offer any concessions, that benefit is reduced.

2. Agencies range in quality. With something as precious as your finances, be exceedingly careful about who you work with. Look for a nonprofit credit counseling organization that belongs to either the National Foundation for Credit Counseling (NFCC) or the Financial Counseling Association of America (FCAA). They ensure member agencies pass rigorous standards set forth by the Council on Accreditation or another approved third party, and that their counselors pass a comprehensive certification program. Even if they are members of such organizations, though, be picky. The agency should be organized, send payments and statements on time and offer strong consumer education and support. If it falls short, contact another branch.

3. All plans are basically the same. Financial institutions don’t give preferential treatment to any one organization, nonprofit or otherwise. So while the agencies and employees vary, the plans are all structured the same way: Your counselor determines how much it will take to pay your creditors in full in three to five years. The payment is usually around 2.5 percent of the total debt. though in hardship situations. there is some wiggle room. You can stop the plan at any time, and you can also pay more — and get out of debt faster — when you have extra funds.

4. Before consolidation, counseling. Why consolidate bills if you can’t pay for basic expenses or if there are better alternatives? You wouldn’t, which is the reason consolidation begins with a counseling appointment where your entire financial situation is assessed. If you have enough cash left over after subtracting expenses from income, consolidation will be presented along with other options. When a counselor is knowledgeable and compassionate, these sessions can be enlightening and motivating. Not all are. If he or she acts bored, judgmental or pushy, request a different counselor.

5. Consolidation is not right for everyone. How do you know if debt consolidation would work in your favor? First, the bulk of your balances should be in unsecured debts, such as credit and charge cards, personal loans and, sometimes, collection accounts. If most of your liabilities include other types (tax debt, unpaid child support or old parking tickets, for instance), these plans won’t help. Second, you should be confident that you can pay not just for a month or two, but for years. And third, you need to have just enough money for essential expenses, some savings and your debt. If you have too much cash left over, you’re better off managing the accounts on your own.

6. It’s simple, steady and efficient. While you’re on the plan, your payment remains constant. You never have to wonder how much you should be paying each month, as it will be the same amount until all creditors are satisfied. When one account is satisfied, the others receive a larger portion of your payment, which speeds up the repayment process. Consolidation can also provide welcome respite from creditors calling about overdue accounts, as they generally stop when the plan begins.

7. You still have work to do. Those you owe will still be sending you account statements, which you’ll have to monitor and send in. Agency reports do not reflect the interest that you’re still being charged, so if you don’t submit them, the balance the agency reports will be wildly different from what your bank statements say. Many clients get a rude awakening when they think they’re all paid off, only to find they still are in the hole for thousands.

8. No more charging until you’re done. One of the agreements you make when consolidating your debts with an agency is that you will close the accounts and not get any new ones until you are debt-free. This can be a mighty difficult adjustment if you’re used to whipping out the plastic on a daily basis. However, it does make sense. After all, if you are still charging while repaying, you’re spinning your wheels. In case of emergency, you’re allowed to leave one card, which is typically a general purpose account with a low or no balance that you can use anywhere.

9. Consolidation is not bankruptcy, but lenders may perceived it negatively. By consolidating, you’re paying 100 percent of your obligations, which is quite different from discharging them in a bankruptcy or settling the debt. Still, your credit report can take a hit if your monthly payments are less than what you would normally pay. Also, while consolidation is not factored into a credit score. some creditors notate that you’re paying through a third party, which can be a red flag to a lender or anyone else looking at the report. We look at it as a bankruptcy. It shows that they need help paying their bills, says Stuart Davis, a senior loan consultant for Princeton Capital out of Los Gatos, California. According to their underwriters, the plan needs to be complete before they will make a loan. On the other hand, most people who consolidate do so because they’re already stumbling and missing payments, so making timely and consistent payments through the service can help their reports.

Clearly, consolidating debts through a credit counseling agency can be helpful, but you may also be able to achieve the same results on your own. How? Suspend charging and request rate reductions from each of your creditors. If they turn you down, make a few larger than average payments and try again. Then, review your budget to know exactly the amount you can afford to send every month. Plug the numbers into a good debt repayment calculator to know how long it will take to become debt free. Pay more to the accounts with the highest interest rate, and when one is paid off, add the payment the next most expensive debt. Finally, commit to living within your means and prepare for life’s inevitable financial emergencies.


Best College Loan Advice: 9 Tips for Borrowing for College – CBS News #interest #rates #on #car #loans


#loans for college
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Best College Loan Advice: 9 Tips for Borrowing for College

  • Lynn O’Shaughnessy
  • MoneyWatch

Last Updated Apr 13, 2010 4:15 PM EDT

College loans . Yes, that time has arrived when parents of returning and new college students start thinking about applying for college loans. It’s also crunch time for graduating college students, who must begin repaying their college loans .

Unfortunately, many families get into trouble when they start shopping for college loans . When the college admission process is over, many parents are so relieved that they fail to do their homework before choosing college loans. College graduates also don’t give much thought to how they will tackle their college debt.

To help out families, who must borrow to pay the college, I’ve assembled some of my past college blog posts on student loans. Some of the posts will help you pick the best college loans and others will help those who must soon begin repaying their student loans.

There is no one right answer, but you will find links in this post to calculators that can help parents determine what level of college debt they can handle.

Students should limit their borrowing to federal loans only, which are safer and offer more protections than private student loans.

Federal loans are your best bet, but unfortunately many families gravitate to private loans because they don’t understand the difference.

In the early 1990s, only one out of every three college students took out college loans, but now well over half do.

There are federal student loan repayment opportunities that can dramatically shrink the monthly tab of eligible borrowers.

Don’t attend a college that has a high student loan default rate. Here’s how to find those default rates.

If you are struggling as you attempt to repay your student loans, here are some options.

Be extra careful about repaying student loans on time. The penalties can be astronomical.


12 month loans – 2, 3, 6, 9 & 24 month loans #startup #business #loans


#1 month loan
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12 Month Loans Easy Way Out to Get Cash

Month loans are a form easy lending with good 1 to 12 months repayment terms. They are for different duration all together so a customer can pick a quote which suits him the best. If a person is in need of small amount he can go with 1 month loan or 3 – 6 month loans and if he is requiring good amount of cash then he may opt of 9, 12 month loans or for 24 month loans with long repayment terms. So these month loans consist of different loan option for different customers. And in UK there are lots of lenders who are dealing in these services. The best part of these 12 month loans is that they comes with monthly repayment option that is really very helpful for a customer to payback his loan amount without doing in much adjustment in his monthly budget and without going under lots of pressure.

Financial troubles are frequent and they arises anytime in a person’s life and mostly they emerges out at the time when a person is out of cash like mid of month or at the time of payday. If you are also going through the same patch then simply login to emonthloans.co.uk and quickly arrange a cash solution for yourself in form of 1 month loan or 24 month loans. There are no tough conditions and terms to follow to avail these month loans and depending on your requirement you can pick the best suited loan service and get optimum cash support for your fiscal problems.

Some cracking features of these month loans in glance.

  • These lending facilities are available for 1 month to 24 month period
  • Through them you can get cash ranging between Ј80 – Ј1000
  • Less documentation part and credit check process is done rarely
  • Quick decision on loan in minutes, so these loans are time saving
  • Loan money is transferred immediately in customer account after approval within 24 hours
  • Online lending procedure makes customer to access these monthly loans from anywhere
  • Flexible repayment terms, customer can repay the loan amount in easy monthly installments

Mostly people prefer to solve their short term needs and thus 1 month loan is mostly used services in this category. As the name suggests these loans are for one month and the customer have to settle them in stipulated time period of 1 month. 12 month loans are also very famous and people use them in order to meet their bigger needs and good thing about these services is that they get the repayment tenure of one year.

These month loans are unsecured and thus they are available without any guarantor or security and that makes them as widely used services. It is not possible all time to get a guarantor or put any asset as security to avail loans for a person, so better they use this unsecured lending service at best to secure needed monetary assistance.

The interest rate is very important part to discuss as many customers don’t understand this clearly and get confused. The interest is on higher side and if you borrow say Ј80 for 1 month then you have to repay Ј100 at the time of repayment. Well it is ok if you pay it on time and creates problem if you fail or miss to make payment. Most of the lenders really charge APR at almost 3000% or more for these types of lending services. Thus missing on your loan repayment is really put you in further debt so avoid such things.

Some of the conditions or criteria which are important to meet when you apply for these 24 month loans

  • The person must be an adult i.e. above 18 years of age
  • The applicant must of resident of United Kingdom with proper address proof
  • The applicant should have a bank account which is active and 3 – 6 months old
  • The applicant should be earning and have a permanent job in his hand

Above given are the few pre-conditions which must be fulfilled by a customer before filling an application form. So if you are able to meet all the conditions and are in need of money then go for these 1 – 3 – 6 – 12 -24 month loans, which suit you best.

Note: At emonthloans.co.uk we arrange loan options for you and guide to you some top lenders. And approval of loans is completely on the lenders hand and some lenders take time of 3 – 6 days or a week for process. And if everything seems perfect then there is possibility that you get the funds on same day itself.


9 Steps To Getting A Car Loan On Damaged Credit #badcreditloans


#poor credit auto loans
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9 steps to a car loan on damaged credit

1 of 11

9 steps to a car loan on damaged credit

Bad credit doesn’t mean you can’t buy a car, and doesn’t automatically mean you can’t get a car loan with terms that don’t break your monthly budget.

Like everything else, “bad” is a matter of opinion and degree. If the score is borderline, some lenders might still smell a good prospect while others, with slightly different criteria, would see more risk.

Most important: Shop around. While the average interest rate for borrowers with good credit is between 4% and 5%, subprime borrowers will pay an average of 10% to 13%, depending on their credit score. Some lenders can go higher than that, according to Phil Reed, senior consumer advice editor for Edmunds.com. “You don’t want to have the attitude of ‘just get me a loan.’ There are still deals to be made.”

It’s also a good time to be looking. Delinquencies on auto loans dropped in the first quarter of 2015 compared with a year ago, so lenders are more confident, leading to a rise in subprime loans.

Here are nine strategies to help you find the best subprime auto loan.

Shopping for a car or just a car loan? Download Bankrate’s auto app for price comparisons, loan calculations and more.


Cloud 9: Student Loan Consolidation Programs, Consolidating Education Loans #loans #on #line


#consolidating student loans
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Student Loan Service

Congratulations. the convocation ceremony is over and you have become a graduate with a college diploma, after burning the midnight-oil and working hard for years. Fortunately, in one hand you hold your college diploma and unfortunately in your other hand you hold the bill for your student loan.One is desired by you and the other less desired.

It is easy for us to understand your feelings. On one hand, you are all set to focus on your own career and ambitions as well as family goals and aspirations and on the other hand you are weighed down by the huge payment on your student loan. Luckily you have a few options here. The student loan service stands by you and makes a commitment to help you in your hour of need by finding the most effective way to bring down the payment you make every month.

There are various student service programs available, still it is difficult to find the best and most effective relief option on student loan. Submission of the necessary paperwork is also a complicated matter although it should not be so. Student loan service has ways to decrease the amount you pay every month on your loans. They are as follows —

  1. Trying to identify the best and most effective student program that suits your personal status and present economic situation.
  2. The efficiency and accuracy that is required to fill up and complete the necessary paperwork.
  3. Submission of the completed paperwork to the education department.
  4. This service acts as a mediator to interact between the education department and you.
  5. It also helps you in achieving a deferment of 90 days on the current loan while the process is ongoing.

9 Tips for Lending Money to Family – Friends #instant #loans


#loan money
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9 Tips for Lending Money to Family Friends

By Jacqueline Curtis

Lending money to loved ones is often a bad idea because it puts your relationship in jeopardy. But when someone you love is in a serious bind and you have the means to help, it can be impossible to say no. So what do you do?

What you don t do is lend money on good faith and expect to be paid back. Just as if you were loaning to a complete stranger, you need to be smart about setting up the terms and a schedule for repayment with your friends and family. But as long as you and your money stay protected, lending to someone you love is doable even if it isn t necessarily advisable.

How to Lend Money to Loved Ones

When someone you love asks you to hand over your hard-earned cash, give yourself time to consider your answer. Ask what other avenues he or she has sought to procure money. Chances are your loved one is deep in debt and won t qualify for a traditional bank loan or peer-to-peer lending. But still, it pays to ask and make it clear that if you re to consider lending money, you require full financial disclosure.

Consider these additional tips to lessen the stress of lending to friends or family:

1. Deal With Cash Only

If a sibling asks you to open a credit card in your name for his or her use, or requests that you co-sign for a loan. shut down the scheme as soon as possible. Never put yourself in a position where someone else s actions could affect your ability to borrow or secure credit in the future. You can control cash, and lending it won t directly affect your credit score. If  a loved one asks for help, only deal with cash or politely decline.

2. Only Lend What You Can Afford

There s an old gambling saying that you should never bet more than you can afford to lose. The same can be said for lending to a friend or family member. Since the money might never be paid back, you need to decide if you re willing to forgive the debt in order to save the relationship so if $5,000 could break you financially, don t lend it.

Even the most well-meaning loved one might fall on hard times and default. Ask yourself whether you are okay with that. If not, don t dole out the loan.

3. Consider the Impact

When you lend money to a family member, you impact just about everyone else you re related to. Allowing one family member to borrow and not another could drive a wedge into your relationships. Other family members might see favoritism or enabling, so seriously think about how going through with the loan will make others feel.

If you re a parent considering loaning money to a child, it might even be a good idea to call a family meeting to discuss the terms openly. That way, none of your other children will be confused or hurt by the decision.

4. Get Full Details

While you might be anxious about hurting a loved one s feelings, you need to know where your cash is going to decide if it s worthy of a loan. A bank would never blindly hand over funds without knowing what it s being spent on, and neither should you.

If a family member becomes offended, take it as a red flag that it s not a deal you should make. And if you are provided details, follow up on them. For example, if a friend asks for a couple thousand dollars for a down payment on a home, check out the house, its cost, neighborhood comparisons, and how a down payment will affect the mortgage. Investigate all of these variables prior to making your decision.

5. Charge Interest

Charging interest to a family member or friend might seem unnecessary, but it s the fairest way to protect yourself. Not only will a fair interest rate inspire your family member to pay you back in a timely manner, but it can also protect you from being charged gift taxes on the money you lend. As of 2012, if you lend more than $13,000, you re liable to pay a gift tax on that amount if you don t set a loan with reasonable terms and get it in writing. For larger loans, confirm with an accountant what you need to do to protect yourself.

While a verbal agreement is considered legally binding, it still comes down to your word against someone else s and even if you trust your loved one to abide by the parameters you set, you could land in hot water without a written agreement.

Having written details that both parties agree to by signature is also a great tool to prevent misunderstandings. Should legal action ever become necessary, a written contract is nearly ironclad in court, which protects you far more than a mere handshake.

9. Distance Yourself

One of the biggest mistakes you can make when lending to friends and family is to micromanage that person s spending after you ve made the loan. Once you ve agreed and inked the deal, the money that you lend is no longer in your control obsessing over how it s spent will only foster problems. Separate yourself from the money and focus on repayment, not on how it s spent.

When to Say No

If you aren t comfortable with the lender-borrower relationship, it may be in both your best interests to decline your loved one s loan request. Money can be a serious force in driving apart friendships and family relationships, so trust your instincts and simply decline if you feel uneasy about the deal. Perhaps you can help in other ways: offer a small cash gift, buy groceries, or find other service-based ways to lend assistance.

Final Word

Is lending to family members or friends the best financial decision you could ever make? Probably not. But all financial advice aside, sometimes your relationships trump traditional money sense. If you absolutely must lend to someone you love, just make sure you do it with your head, and not your heart. Being too forgiving or trusting might be admirable, but it can also lead to you being taken advantage of, even by someone who has the best intentions.

Do the work, prepare for the worst, and work to keep your relationship as stable as possible to make lending money a positive experience for both parties involved.

Have you ever loaned money to a family member or friend? If so, did the experience put any strain on your relationship?