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10 Quick Debt-Busting Tips
Are you really frustrated?
Does it sometimes seem like the dollars are slipping through your fingers while the bills just seem to keep mounting up?
It's a familiar feeling for many of us nowadays.
Sometimes, though, like most things...
Debtors Prison, a Brief History of Bankruptcy
In Ancient Israel, every 7th year (Sabbatical year) the debtors
were forgiven some of their debt and every 50 years (the Jubilee
year) all debts were to be discharged, some mortgages released
and all indentured servants and slaves were to...
Decrease Daily Debt - Top 10 Ways
Home is where the debt is.
Debt reduction is about spending less money so you can pay off your current debts while not accumulating more debt. Car payments, Christmas shopping, and credit cards enable the amassing of debt rather quickly. When...
Paying Off Your Student Loan With Debt Consolidation
It’s not unheard of, surely. But let’s get to the basics. There are two student loan types that are made available to financially struggling students. The federal student loan is a loan given by the government, particularly the country’s Department...
The 7 Secrets to Getting—and Staying—Out of Debt
As vice president of the American Credit Foundation, a nonprofit organization that helps individuals and families manage their debt, Mike Peterson knows firsthand how financial problems can wreak havoc in one’s life. Each day, counselors at the...
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Student Debt and Student Loans
The statistics show that more and more students are graduating
from university with significant debt. The debt levels are
growing year on year and many students will be paying them off
for years after they graduate. It seems that the consumer
addiction to credit and spending has effected the student
population just as much as every one else. The fact that most
students are not earning anything, and are living either on
funds provided by their parents, or on money borrowed, they
continue to spend millions each year.
These costs are spread over a variety of areas. Accommodation
and other living expenses represent the largest portion of the
expenditure. Added to this is travel to and from university,
holiday and summer travel expenses, and entertainment. While
students are generally financially responsible and not as out of
control as many patents would have you think, they do continue
to spend a huge proportion of their money on entertainment and
socialising.
Employment
Many students will also be working part time during their
studies. There are a lot of jobs available and finding one is
not a problem for most students who genuinely want one.
Employers recognise their flexibility and willingness to work
unsociable hours and also that they will generally be happy to
accept minimum or close to minimum wage. Therefore, while the
jobs are there, they generally pay little, and students who work
more than 10-20 hours a week are probably putting a serious
strain on their studies and risking their
future chances of
success.
Most student debt is comprised of student loans. The student
loans company based on eligibility criteria provides these.
These loans are cheaper than credit that is available on the
market from high street banks and have other significant
advantages for students. Firstly, students will not have to
start repaying the loans until they are earning a set minimum
amount, currently around the £15,000 mark. Then there is also
the fact that loan repayments are calculated according to
earnings levels and are therefore always reasonably affordable.
Students are giving as much time as they need to repay the loans
and the interest rates, as said before, are very favourable.
Overdrafts
As well as these student loans however, many students will also
have other forms of debt. Most banks are offering interest free
student overdrafts of up to £2,000 and there are not many
students who do not use this up pretty quickly. Then there are
bank loans, store cards and credit cards. All of these represent
a significant amount of debt that most students are living with.
About the author:
Joseph Kenny is the webmaster of the loan information sites http://www.selectloans.co.uk
/ and also http://www.ukpersona
lloanstore.co.uk. At the Personal Loan Store you can find
all the different loan
types explained.
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| Factsheet - Debt Relief Under the Heavily Indebted Poor Countries ... |
| The HIPC Initiative is a comprehensive approach to debt reduction for heavily indebted poor countries pursuing IMF- and World Bank-supported adjustment and ... |
| www.imf.org |
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| Special report: debt relief | Special reports | Guardian Unlimited |
| February 6: A year ago the Guardian set out to track the west's promises of action for Africa on aid, trade, health and debt relief. As G8 finance ministers ... |
| www.guardian.co.uk |
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| Economic Policy and Debt |
| May 2006, IMF And World Bank Support Cameroon’s Completion Point Under The Enhanced HIPC Initiative And The IMF Immediately Grants 100 Percent Debt Relief ... |
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| Economic Policy and Debt - The Enhanced HIPC Initiative |
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| Debt relief - Wikipedia, the free encyclopedia |
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| Debt Relief - Global Policy Forum - Social and Economic Policy |
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| BBC NEWS | Business | Q&A: African debt relief |
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| news.bbc.co.uk |
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| Debt Relief offers Australians in debt assistance with finding the most appropriate debt relief solution. |
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| Debt Consolidation Australia, Debt Relief & Bankruptcy Information |
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| Oxfam - Debt and Aid - Debt Relief for Nicaragua: breaking out of ... |
| Oxfam policy paper on relationship between international debt servicing and poverty. Linked to table of contents and also zipped for download. |
| www.oxfam.org.uk |
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| What debt relief means for Africa | csmonitor.com |
| This weekend's $40 billion debt cancellation deal could spark major improvements in the lives of the world's poorest people. |
| www.csmonitor.com |
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