|
|
|
Bad Credit Auto Loans
Many borrowers assume that securing an auto loan when you have a
bad credit rating is impossible, which is far from truth.
Finding an auto
loan when you have a bad credit might seem difficult to
many, but certainly it's not impossible. In...
Direct Loans 101
Direct loans are convenient, flexible and simple. A Direct loan is a loan by a lender to a customer without the use of a third party. This type of loan enables the lender to have greater discretion in the distribution of loans. Typically the lender...
Mortgages and Mortgage Loans
Mortgage loans are readily available to homebuyers wanting to purchase a home and mortgages are available through several different lending agencies. Mortgage loans are now being promoted online with the Internet, as the Internet has brought a...
Payday Loans Pro's and Con's
Payday Loans, often referred to as cash advance loans, are amounts lent by specialized lenders to borrowers until the next pay day. Typically, payday loans are extended for amounts that are less than $1,000. The loan is extended to the borrower...
Secured Loans Tips
Here are some useful secured loans tips. Secured loans enable most homeowners to borrow capital against the value of their property. A secured loan is where the amount you borrow is secured against the value of your home. This is a loan that's...
|
|
| |
|
|
|
|
|
|
Direct loans, the new way to fund going to college
Going to college can be an expensive proposition for both the student and the government. Many people are finding that going to college is an impossible dream due to raising tutitions and cost of living unless they receive help in the form of a scholarship or loan. Of course the raising costs of everything are no reason that any bright child should not receive a higher education and achieve all they can aspire to.
In the past the federal government has had a lending program to assist people with funding their secondary education costs but this system has it draw backs. The old system of student loans was fraught with fraud, was time consuming and very confusing to most people. With the old system there was more than 7.000 lenders with 65 secondary markets and 35 guaranty agencies. For one loan most students would have to fill out countless forms and apply to numerous agencies until they finally got the answer they needed.
The other big problem with the old lending system was the cost of administrating the loans. On average it cost the government $11 per $100 loaned to manage the accounts. The solution to this is the simplified Direct Loan system that is now in place. The Direct Loan system is exactly what it sounds like; the government lends the money directly to you thus eliminating the middleman and much of the cost of lending money to students.
When applying for a Direct Loan you will have two options, a subsidized or unsubsidized loan. A subsidized loan is generally for people who would not normally be able to afford going to college at all. With a subsidized loan the
government pays all the interest on the loan until your schooling is finished at which point you must begin to repay the loan. An unsubsidized loan is the standard Direct Loan for most people. With an unsubsidized loan you must pay interest on the loan while you are in school and then begin to repay the loan after you graduate. You do have the option of deferring the interest payments while you are in school. If you elect for this option the amount of the interest is added to the principal of the loan each month until you graduate.
Just like all other areas of finance in your life, you must also carefully control the Direct Loan financing. There are many things to keep in mind such as the yearly lending limits. For the first year you can only borrow $2,625, $3,500 the second year and $5,500 each year after that. This means you may also have to work or find other sources of funding while in school. Keep careful records of all the money you receive and keep receipts for everything you spend the money on. You might be surprised at what all can be used as a tax deduction.
As you can see Direct Loans are a fast and efficient way to receive college funding from the government. The application process has been reduced to basically one form, the time it takes to gain approval is faster and you receive your money sooner than before. Direct Loans are a welcome overhaul of the generally failing old system of student lending.
About the Author
Jakob Jelling is the founder of http://www.cashbazar.com. Please visit http://www.cashbazar.com/loans.shtml to learn about the loans that suits you best.
|
|
|
|
|
| Cheap Loans | car, personal & secured homeowner loans ... |
| Compare over 400 UK personal (unsecured) and secured homeowner loans, including car loans, to find the cheapest deals... |
| www.moneysupermarket.com |
|
| E-LOAN: Mortgage Refinance, Home Equity, Auto Loans, Savings ... |
| E-LOAN offers home mortgage, refinance, home equity loans, lines of credit, auto and motorcycle loans, savings accounts and CDs with great rates online. |
| www.eloan.com |
|
| Loan Center - Yahoo! Finance - News, Education, Daily Rates and ... |
| Loan Center - The Yahoo! Finance Loan Center provides useful tips, calculators, and rate data to help you choose an auto loan, mortgage, or personal loan ... |
| loans.yahoo.com |
|
| FREE LOANS QUOTE - the customers champion. Finding you the right ... |
| COMPARE! Let us get you a loans quote with minimal fuss. We're the UK specialists. |
| www.moneyweb.co.uk |
|
| Personal Any Purpose Loans : Loans.co.uk : Personal Loans UK |
| Offers consumer loans for any purpose in the United Kingdom. |
| www.loans.co.uk |
|
| FinAid | Student Loans |
| An education loan is a form of financial aid that must be repaid, with interest. ... The interest rate on the Stafford Loan for new loans first disbursed ... |
| www.finaid.org |
|
| GovLoans.gov - Find the Right Loan for You |
| GovLoans is a partnership of many Federal agencies and organizations with a shared vision - to provide improved, personalized access to government loan ... |
| www.govloans.gov |
|
| Loan - Wikipedia, the free encyclopedia |
| Bank loans and credit are one way to increase the money supply. ... Abuse in the granting of loans is known as predatory lending. ... |
| en.wikipedia.org |
|
| Mortgages, Refinance, Home Loans, Home Equity Loans at Quicken Loans |
| Online lender offers simplified residential loans and competitive mortgage rates. Headquarters in Livonia, MI. |
| www.quickenloans.com |
|
| Mortgage Loans - Compare Mortgage Rates - MSN Money |
| Get a mortgage loan that’s right for you. Compare mortgage loan rates of top lenders. |
| moneycentral.msn.com |
|
| The Student Loans Company Ltd. |
| Provides details of the Student Loans system which is part of the Government's financial support package for students. |
| www.slc.co.uk |
|
| Sallie Mae - Private Student Loans, Stafford, PLUS, Student Loan ... |
| Apply online for federal and private student loans, consolidate student loans; financial aid and scholarship information for college, graduate school and ... |
| www.salliemae.com |
|
| Loan Guaranty Service, Home Page (U.S. Department of Veterans Affairs) |
| This page provides content and information related to the Loan Guaranty Home Loan Program. |
| www.homeloans.va.gov |
|
| Fool.co.uk - Compare Loans - Personal Loans and Unsecured Loans |
| Compare over 200 UK loans including personal loans, secured loans, and unsecured loans. Search all loans and apply online. |
| www.fool.co.uk |
|
| LendingTree Home Loans | Refinance | Home Equity | Mortgage Refinance |
| Service network of lenders that enables consumers to compare rates, apply for and get approval for competitive auto loans online. |
| www.lendingtree.com |
|
| Direct Loan Home Page |
| The US Department of Education's lending arm for students in participating schools and student loan consolidation. |
| www.ed.gov |
|
| Personal, home equity loans for union members at Union Plus |
| Union Privilege offers Union Plus benefits -- including credit card, mortgage, loans, insurance, scholarships, health care savings and other discounts -- to ... |
| www.unionplus.org |
|
| Countrywide Financial - Home Loans - Equity Loan Mortgages ... |
| Countrywide Home Loans is the nations largest independent mortgage lender offering home equity, HELOC, refinance, mortgages, debt consolidation and other ... |
| my.countrywide.com |
|
| Secured Loans UK - Secured Personal Loans - accepted.co.uk |
| We search over 200 secured loan plans to find the best deal from our lenders - accepted.co.uk. |
| www.accepted.co.uk |
|
| UK Loans : Personal Loans, Secured Loans, Cheap Loan Quotes |
| The UK Personal Loan Store offers comparisons of the UK loans, personal and secured loans. Also offers tips, articles and latest loan news section. |
| www.ukpersonalloanstore.co.uk |
|
|