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A Guide to Low Cost Secured Loans
The idea of low cost secured loans might sometimes seem like nothing more than a fantasy… it doesn't have to be, however. Low cost secured loans can be found, even for individuals with less-than-perfect credit; it's all a matter of knowing where to...
GET ON THE INTERNET TODAY - UNSECURED LOANS UP TO $1 MILLION
Until recently leasing companies wouldn't even think about financing transactions that included so-called "soft costs" such as custom software. Financing for hard collateral equipment were the only programs available. Now however, leasing companies...
Home Loans and Mortgages - Help for Hurricane Katrina Victims
Hurricane Katrina swept through the Gulf Coast region recently and left nothing but destruction in her wake. Thousands of people are homeless, jobless and penniless, and it is not currently known how long the local economy will take to recover....
Secured Holiday loans- your chance to unwind your senses
“All work and no play makes jack a dull boy”. The phrase sounds more as a cliché, having been used innumerable times right from the time it was coined, but has a vital message enclosed within itself. It sermonizes about the place rest has in the...
What’s All the Hype about Omni Military Loans?
The average person some time in their adult lives will come across a time where they will need to take out a loan. However, if you’re in the military you aren’t just the average person. Omni military loans are specially designed for the ease and...
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Student and Graduate Loans
Student and graduate loans are becoming more popular as student
debt continues to rise and students seek alternative ways of
dealing with it. The good news is that student or graduate loans
are generally available without the need to show steady income
or offer security. This is extremely helpful, as most students
will not have either of these. Student and graduate loans also
come at relatively good interest rates, particularly having
regard to the fact that they are completely unsecured. The thing
to be wary of is that such loans may lock the student into a
long-term relationship with the lender that may not be the most
advantageous one.
Student Debt
Students leaving college today average about £14,000 in debt.
More than two thirds of all students must borrow and the vast
majority of this debt takes comes from special loans provided by
the Student Loan Company. Once the student begins working, the
loans will be repaid, but the interest rates are capped at the
highly attractive rate of 1% above base rate. This is very low
compared to most sources of credit available.
The rules for repayment are simple. Beginning in the April after
graduation, 9% of all earnings above £15,000 are automatically
taken to repay the Student Loan Company. The loans are therefore
very safe, as they are only due once you join the workforce and
begin to earn a steady salary.
Graduate Loans
Graduate loans on the other hand, are far more expensive than
student loans. These loans are generally offered on graduation,
when student loans are no longer available, to cover the costs
of transition from student life to working life. This may
include finding a new place to live, buying work clothes etc.
Graduate loans will also be used to pay off student overdrafts,
which are offered to all
students as standard features of their
bank accounts. The point to remember is that while graduate
loans are relatively cheap when compared to personal loans, they
are far more expensive than student loans.
Employment
If you have a job lined up, you may be able to borrow money from
your new employer at a far better rate. This is one alternative
to graduate loans. Another alternative is career development
loans, which are available to those studying for certain
professional qualifications such as medicine or law. Many high
street lenders offer these.
It can be very easy to lose control of debt while studying. The
credit is very easy to obtain and repayments so far into the
future that they don't seem real. However, high student debt can
seriously hamper attempts to buy a home once you enter the
workforce, or save for a pension. The trends show that while
student debt continues to increase, graduates are faring better,
relying less on borrowing and more on salaries, to meet their
needs.
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.
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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| The Student Loans Company Ltd. |
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| Apply online for federal and private student loans, consolidate student loans; financial aid and scholarship information for college, graduate school and ... |
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| This page provides content and information related to the Loan Guaranty Home Loan Program. |
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| Service network of lenders that enables consumers to compare rates, apply for and get approval for competitive auto loans online. |
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| We search over 200 secured loan plans to find the best deal from our lenders - accepted.co.uk. |
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| 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. |
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