Consolidation Loans

Consolidation Loans

Consolidation is similar to refinancing a loan. You can consolidate all, just some, or even just one of your student loans. Consolidating federal student loans may be a good strategy to lower monthly payments or to get out of default, but it is not always a good idea.

Until July 1, 2006, interest rates on federal loans were variable, changing according to a formula every July 1. Consolidation would lock in a fixed rate based on the average rates of all the loans included, creating one loan with a single rate, and often, significant savings in interest over the life of the loan. Non-consolidation loans made after July 1, 2006 have a fixed interest rate, so consolidating newer loans may not save much in interest. You should check the interest rates on your loans, particulary if you have a subsidized loan that you took out after 2008, because rates are lower on these loans. The Department of Education has more information about consolidation loan interest rates.


Pros and Cons of Consolidation

The “Cons”

If you have relatively new loans, you probably won’t save as much on interest through consolidation. This is because interest rates on federal loans made after July 1, 2006 are fixed. The interest rates for consolidation loans are calculated based on the average interest rates of the loans that you are consolidating. If you have variable rate loans from before July 1, 2006, you may be able to get very significant interest rate reductions by consolidating. The interest rate (valid through June 30, 2012) for loans first disbursed between July 1, 1998 and June 30, 2006 is 2.36% for loans in repayment. You can get an even lower rate of 1.76% if you consolidate during your grace period. These low rates will be locked in for the remaining life of the loan. Federal student loan amounts and terms for 2011-12.

Consolidation extends repayment, often lowering monthly payments, but creating more overall costs in interest over the life of the loan, and extending your obligation further into the future. If you are close to paying off your loans, consolidation may not be worthwhile.
You may lose some rights by consolidating. This is most clearly a problem if you consolidate federal loans into a private consolidation loan (you would lose the rights associated with federal loans). You may also lose some options and protections if you consolidate certain federal loans, particularly Perkins loans, into other federal loan programs.
The “Pros”

Consolidation allows you to put all of your loans together and make just one monthly payment.
Consolidation might help you if you need to reduce payments on your loan through an extension of the repayment period. (Extending the length of repayment increases the total amount you have to repay over the life of the loan.)
You may get an interest rate break, especially if you have variable rate loans.

WARNING: It is very dangerous to consolidate federal loans into a private consolidation loan. You will lose your rights under the federal loan programs once you choose to consolidate with a private lender. These include deferment, forbearance, cancellation, and affordable repayment rights. Also, federal consolidation loans generally have lower interest rates.

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Source: http://www.studentloanborrowerassistance.org/understand-loans/consolidation-loans/


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Find Free Government Grant, Scholarship and Loan Information

 Find Free Government Grant, Scholarship and Loan Information

The commercials, banners, and magazine ads all offer you the promise of tapping into crazy amounts of government grant money if you just purchase a little booklet from them.
STOP! Keep your money in your pocket and read on...

The key to searching for government grants isn't found in a pamphlet, ebook, or elsewhere. The tools for finding government grants are right under your fingertips, that is, if your fingertips happen to be positioned on the keyboard.

All the information you need to find the government grants, scholarships, or loans you might qualify for can be found on the Internet. For no fee- aka, free.

There are thousands of government programs available for all types of needs including education, disaster relief, home repair, housing, financial, small business, counseling, utilities, insurance, environment, and a wide variety of additional necessities.

Most people qualify for some type of government grant. Even if you think your income might be too high or your options limited, complete a search. Don't pass up the chance to put free money (grants & scholarships) in your pocket to help out with your day-to-day or future needs.

All it takes to find government grants, scholarships, and loan programs is a little bit of initiative, a few minutes of time, and access to the following websites:

www.govbenefits.gov

Govebenefits.gov is free to search and easy to use. Click the START HERE button and fill in the anonymous Q&A to find the best matches for your needs/qualifications.

The Q&A section does take a few minutes to fill out, but it's well worth the time as the results will be narrowed down to the specific programs that may fit your profile. This time investment up front will cut your overall research time in half by not having to weed through all the government grant, scholarship, or loan programs that you do not qualify for.

www.usa.gov

The usa.gov website is a little harder to navigate, but you can use the ADVANCED SEARCH option to narrow things down a bit.

When you visit either of these websites, take the time to check your options and sign up for updates on areas of interest to you. Some government grants, scholarships, or loans may have seasonal funding and you won't want to miss the sign-up. New grants may also become available that will be of interest to you, so signing up for updates can give you an edge up on getting an application in before the new or seasonal grant funds dwindle.

If you do not find the grant, scholarship, or loan opportunity you are looking for by using the websites mentioned, simply turn to your favorite search engine to help. Just type in the type of government funding you are seeking such as "Small Business Government Grants and Loans" or "Environmental Protection Government Grants and Loans" and SEARCH. Ignore the ads that pop up and look for websites ending in .gov - these are the official government websites and will have the most up-to-date information.

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Source: http://voices.yahoo.com/find-free-government-grant-scholarship-loan-information-3169374.html?cat=3


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UK Student Loans Explained

UK Student Loans Explained

Student loans seem to be the only feasible way out to pursue higher studies for the average student in UK. Things become all the more difficult for those without university funding. The government, in its efforts to make further education affordable, had undertaken quite a few steps to buffer educational finance. A significant step towards this end was the formalising of the Student Loans scheme.

The Student Loans scheme was meant to help students with their costs of living during their period of study. With the credit market in UK specialising and booming with respect to the various economic spheres, student loans from private players are gradually becoming easier to get. Numerous lending agencies are eager to offer you a student loan after taking care of every odd problem a borrower may have.

The student loan or support schemes available in UK for various types of education & training within Britain are numerous. The specifications for student loans differ on the basis of the type of the course for which funding is needed, that is, full, part-time, or distance courses at UK universities and also the nationality, region, merit, and financial capacity of the student.

The student loan specifications and categorisation also change according to the study level

Students planning to go to further education

Currently in further education

Left further education

Gap Year

Students with children

Disabled students

Postgraduate and mature students

NHS funded students

Students in Scotland, N. Ireland & EU students.

You can get a student loan even if you are aged between 50 to 54 years. However, in this case you will have to confirm that you plan to work after the completion of your course. Usually the student loans are designed to take care of the costs of living, which includes costs made on accommodation, food, clothes, and travel. Just 25% of the loan is evaluated on the basis of your income.

For detailed information about the amount of the student loan and the legal procedure, get in touch with the local student loan award authority. This authority will manage the initial part of your student loan application. You will be tested with respect to your means and eligibility to justify your qualification for the student loan. You can also submit your application online with a reliable lending firm.

Against the loan, you are to pay a monthly interest that is based on the rate of inflation calculated daily from the start date of your student loan. You start repaying after finishing the course and after you reach the income level of over �10,000 a year.

However easy the procedure of getting a loan is, remember that you have to repay them. It is better to plan for the repayments while you are applying for the student loans. This increases your credit rating as well as relieves you of severe financial tension in future.

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Source: http://www.zeromillion.com/financial-services/uk-student-loans-explained-by-joseph-kenny.html


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What Are FAFSA Student Loans?

What Are FAFSA Student Loans?

FAFSA stands for Free Application for Federal Student Aid, and is the first step that any student applying for financial aid through a federal program. This program is managed through the Department of Education.

There are four basic types of student aid available: scholarships, grants, loans, and work-study awards. With a scholarship, the money that is awarded does not have to be paid back. Scholarships are given to students based on academics, athletics, music, art or other fields. Grants do not have to be paid back either and are given based on financial need. Loans have to be paid back at specific interest rates. Work-study includes payments made to students who work on-campus to help pay for school costs.

The first step to applying for most of these programs includes filling out the paper work for the FAFSA, and this can be intimidating. You will need the following information to complete the FAFSA.

o Student's Social Security Number

o Student's driver's license

o Student's W-2 Forms and other records of money earned (plus parent's/parents' W-2 forms if student is a dependent)

o Student's (and spouse's, if the student is married) Federal Income Tax Return for the previous year

o Parent's/Parents' Federal Income Tax Return for the previous year (if student is a dependent)

o Student's untaxed income records for the previous year - Social Security, Temporary Assistance to Needy Families, welfare, or veterans benefits records

o Student's bank statements for the previous year

o Student's previous year's business and investment mortgage information, business and farm records, stock, bond, and other investment records

o Student's alien registration card (if not a U.S. citizen)

The Department of Education requires one to four weeks to process the FAFSA for student loans. The length of time to process depends on numerous factors and includes the size of the application backlog, rather the forms were filled out correctly, and also if the required documentation has been attached.

Even thought the FAFSA can be intimidating, it is the vital first step to acquiring your student loan. If you don't fill it out, you will not be qualified and your loan will be denied.

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Source: http://EzineArticles.com/813153

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Types of loans for Higher Education

Types of loans for Higher Education

Educational loans can be termed as a type of a monetary assistance such as funding, rewards, financing and scholarships, which when borrowed in cash, have to be returned with some added interest. It is always advisable to borrow according to the need. TheLoanBazaar.com provides loans to the students and also to the parents, after all the other additional monetary assistances have been evaluated.

The repayment period for such loans mostly depend from lender to lender as well as on the overall amount that the student opts to borrow at first place. Majority of the student loans have low rate of interests and the students don’t have to make a payment for the interest till a specific time period, although there are certain exemptions to this rule too.

To be entitled for loans from TheLoanBazaar.com, all you have to do is fill up a Free Application for Federal Student Aid.

It should be noted that the interest price is dynamic and can change periodically. We at TheLoanBazaar.com also provide loans for the residence and help you bear the cost of the procedure of getting transferred from one place to another and for the interview or any conference.

The different types of student loans are offered by us. These are:

Undergraduate student loans

It is a type of unsecured loan offered by TheLoanBazaar.com to be used for education-related expenses. In case you are not currently earning while studying or do not meet our policies for eligibility criteria, you may need a suitable cosigner, like a parent, friend or any relative or eligible adult.

This type of undergraduate student loan includes your Tuition, previous school fee, living expenses, books and other expenses like transportation costs.

While the funds are sent directly to the student, TheLoanBazaar.com also offers competitive interest rates and flexible repayment terms, wherein the repayment can also begin after graduation. With quick application process and easy to fill up application form, getting could not get any simpler.

Graduate/ professional students

Graduate/ professional student loans are basically suitable for students who higher or advanced degrees at nationwide colleges.

These are the type of unsecured loans offered by TheLoanBazaar.com to be used for education-related expenses. In case you are not currently earning while studying or do not meet our policies for eligibility criteria, you may need a suitable cosigner, like a parent, friend or any relative or eligible adult.

While the funds are sent directly to the student, TheLoanBazaar.com also offers competitive interest rates and flexible repayment terms, wherein the repayment can also begin after graduation. With quick application process and easy to fill up application form, getting could not get any simpler.

Career education loans

Career education loans are basically available for students who are attending the undergraduate career oriented programs at nationwide colleges and technical and trading schools.

These are the type of unsecured loans offered by TheLoanBazaar.com to be used for education-related expenses. In case you are not currently earning while studying or do not meet our policies for eligibility criteria, you may need a suitable co signer, like a parent, friend or any relative or eligible adult.

While the funds are sent directly to the student, TheLoanBazaar.com also offers competitive interest rates and flexible repayment terms, wherein the repayment can also begin after graduation. With quick application process and easy to fill up application form, getting could not get any simpler.

College parents loans

It is a type of unsecured loan offered by TheLoanBazaar.com to be used for education-related expenses. In case your child is currently studying and now working alongside, you can take up the loan by being a co signer.

This type of loan can help you assist your child with any kind of undergraduate/graduate or career education plan in college. And what’s more, you do not even have to keep collateral and do not have to sell away your homes, investments money for the school and college fee of your child.

This type of undergraduate student loan includes your Tuition, previous school fee, living expenses, books and other expenses like transportation costs. With quick application process and easy to fill up application form, getting could not get any simpler.



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Source:http://www.theloanbazaar.com/educationalloans/types-educational-loans.html


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Loans for Single Mothers

Loans for Single Mothers

We’ve all had that experience: running out of money when we need it. Or maybe you aren’t out of money, but you need money for other purposes, say buying a mortgage as a single mom or attending college as a single parent. All of these things are costly – if you don’t have the money, you don’t have the money. Single moms who find themselves in this situation can look at getting some sort of single mother loan – that is, a loan that a single mother can apply for.

Now there are different types of single mothers loans out there to look at. Not all loans are equal in terms of how easy it is to get them. It’s a good idea that you familiarize yourself with the different loan options for single moms out there.

As a note before you get a loan: almost all loans require some kind of credit check, the exception being payday loans and federal student loans. Bad credit will get you high interest rates on the loan or even flat denial. So it’s a good idea to look at your free credit score (either through a website or via mail order) and see where you stand. If you have bad credit, we recommend you repair your credit.

As an aside, keep in mind that being a single mother puts you in a more precarious situation. You are likely only living on a single income: yours. If you can’t afford a loan, you can’t afford a loan. So don’t get any sort of loan that’s over your head in terms of the actual interest costs. Remember that loans do require you to repay them. If you end up say (for the sake of example) a loan that charges you 7% interest, you are going to have to repair 7 dollars for every 100 dollars you’ve borrowed. Some loans like credit card loans only require a minimum payment, but minimum payments are pretty much only the interest payments – you won’t reduce the principal amount by very much.

Student Loans

These are loans that you can take out if you are going to school. As a single mother, you will probably want to look at federal student loans. Federal student loans are a good option for practically anyone because there is no credit check done on these type of loans. These loans are also very affordable in terms of the interest and the repayment flexibility.

You can also get private student loans which are student loans not backed by the government. Sometimes federal student loans don’t provide you with enough money to pay for your entire schooling, which means you’ll need to seek out a private student loan lender. Some of the big ones are Chase student loans and Salie Mae student loans. You can also use a website like PrivateStudentLoans.com to do a loan search if you want to save time finding the right private student loan.


Sweepstake Scholarships

If you need money to pay for school, you can also look at some scholarship draw programs like the $10k scholarship for working adults program and the Scholarship for Moms. These type of programs are free — you simply apply with an easy-to-fill-out form and get entered into a monthly $10,000 scholarship program.

There are also various school scholarships available too — you can apply at your local college financial aid office.

Payday Loans

Payday loans have become popular the past decade, but these have some of the highest interest rates on the market. This are also called cash advance loans or paycheck loans. If you are even thinking about a payday loan, you absolutely need to repay this type of loan as soon as possible. If you miss, say only 2 months of payments, the interest rate may actually overtake the principal amount you owe! You also will be required to pay a fee for taking out a loan on top of the high interest rates. Payday loans are useful for emergency loans – loans where you need to some quick cash for say a medical emergency or car repair. But you only take out these loans between paychecks. Keep in mind that there are a LOT of people who have declared bankruptcy because of payday loan debt. This is NOT something you want to happen to to. You should watch the video at the bottom of the article for more information.

Having said that, if you need some quick cash for an emergency and you are sure you can repay it quickly, then payday loans do have their place. If you are looking at getting a payday loan, then consider something like a cash assistance loan. One example of this type of loan is the 60 Minute Payday Loan. This loan will give you cash in, as the name states, as quick as 24 hours and up to 1,500 dollars. Just makes sure you repay it quick so you don’t get stuck with fees.

Debt Consolidation Loans

These are special loans that are used to help consolidate your debt into a single account. For example, say you have multiple types of debt — different student loans, credit card debt, etc. instead of making payments on all of these loans separately, you can take out a consolidation loan to “pay off” all your single loan debts. You then make payments on the single loan. In some cases, debt consolidation loans can get you a slightly lower interest rate because it’s usually a higher loan amount. There are some pitfalls, so make sure you do your research about this topic first.


Auto Loans

These are basically loans that you get to buy a car. You can approach the bank directly and seek to get some kind of personal or auto loan to buy a vehicle. You may need to come up with a down payment to lower your interest rate or to even get the loan. The other option is to look at an online auto loan program like Autoloan ATM. This program offers you a set loan to buy a car with bad credit — a pretty big issue these days. Most banks or other financial institutions won’t give you a loan with bad credit now; however, special companies online will. The catch is that you will pay higher interest for these kind of loans — a trade off that may be worth it if you need a vehicle bad.

Secured Loans

If you have assets, you can often take out a secured loan. One example of this would be to put the value of your home against a loan. Banks are always more willing to lend to people who have some type of security in assets that can cover the cost of the loan should a default occur. Two examples of secured loans are secured business loans and secured personal loans.

There are several sub categories of secured loans that you can look at.

Business Loans


Personal Loans

Business loans are loans given out for people who want to start a business or need to money to expand a business. If you want one of these loans, you are going to need a solid, tangible idea and the assets to back up the loan. Since Business loans are secured loans, you are going to need something like another business, a house, property, or something valuable to help “float” the loan. Secured loans put less emphasis on credit history, since you are backing up the loan with your assets. However, it still does matter, just not as much.

A personal loan is a loan given to a person. You can use personal loans to renovate your home, go traveling, buy a car, etc. Unlike a business loan, you don’t need to come up with a business proposal and all the other paperwork associated with a business. The loan amount is usually less, however. And just like a business loan, you need to have concrete assets to help back the loan as security. Traditionally, you could get a personal loan by going to your local bank. These days, it’s just as easy as getting a personal loan online from an online lender who specializes on personal loans.

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Source: http://loansforsinglemothers.net/


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Business Loans

Business Loans

Start Up Business Loans with Bad Credit

It is highly unlikely that a bank will give you start up business loans if you have a bad credit rating. Nevertheless, with some other options at your disposal, you can definitely try to improve your financial situation.

Business Loans for Veterans

Business loans for veterans are available through various sources like the Small Business Administration and private financial institutions.


Private Lenders for Small Business

Falling short on sufficient financial resources is a nightmare for any businessmen. Obtaining capital quickly can sometimes prove difficult, but certain private lenders provide a timely relief to people and businesses in such a scenario. These lenders grant loans that have affordable interest rates and can be easily approved.


Small Business Loans for Women

Time and again, women have proved to be as capable as men and in some cases, exceedingly capable than men. There are several different loans and financial facilities, that have been provided in recognition of their talents and ambitions. Loans are provided in order to help women entrepreneurs to set up their own enterprise. To know more about such loans, read on.


Small Business Loans for Women with Bad Credit

There are several types of loans that are given to business organizations. The small business loans for women with bad credit are the types of loans that are given specifically to budding women entrepreneurs who wish to run their venture successfully.


Business Loans for People with Bad Credit

The problem with being stuck with the 'bad credit' tag, is that life becomes a hell of a lot worse for you. Getting business loans or credit in any form actually, is all the more difficult if you are a 'bad credit' risk. This article though sheds some light on the topic of 'business loans for people with bad credit'. Read on...
Cash Advance Lenders
Business and payday cash advance lenders help by providing money to cash strapped borrowers.


Small Business Startup Loans

Lenders have been encouraged to provide small business startup loans to entrepreneurs in pursuit of financial success.

Types of Business Loans

Business loans, as the term indicates, refer to the loans acquired for establishing, running or enhancing one's business. The dictionary meaning is simply, bank loan granted for the use of business. There are various types of loans which come under the umbrella of business loans. These loans have to be carefully planned and thus, those who want to apply for business loans should formulate a clear business plan.
Pros and Cons of Corporate Bank Loans

Corporate debt can assume the form of bank loans or corporate bonds. The choice of whether to borrow money from the bank or raise money by issuing bonds depends on a number of factors. This write up aims to explore the types of corporate bank loans and pros and cons of the same.
No Documentation Business Loans

Loans and documentation are synonymous. The very thought of documentation puts many business entrepreneurs off. This makes them turn towards resources that ultimately take a toll on capital and profit. The no documentation business loans are designed to offer respite from the necessary evil called 'documentation'.
Small Business Loan: Solutions for Start Up

Having a good business plan is not enough to start a small business. You require funds in the form of a business loan. Here, we take a look at the various requirements to avail small business loans.
Loans for Starting Up a Business

There are various options to get loans for starting up a business. Here we try to shed some light on the different types of loans for starting a new venture.


High Risk Business Loans

If you have a bad credit report, you can apply for a bad credit loan, personal loan or a high risk business loan.
Government Small Business Grants and Loans
Current information on government small business grants and loans and small business funding resources found here.


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Source:http://www.buzzle.com/articles/business-loans/


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