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Saturday, August 18, 2007

Logbook loans - Money Against Vehicle Logbook

By: Amanda Thompson
Logbook in simple terms means a vehicle registration certificate issued by Driving and Vehicle Licensing Agency (DVLA) in the UK. I hope you are aware of the fact that registration document V5 popularly known as logbook has become invalid from July 2005 and is replaced by a new style vehicle registration certificate (V5C). A logbook is valid up to 5 years and contains entries regarding owner of the vehicle, registered keeper of logbook, chassis number, current registration mark, engine number, model and color of the car. You know various means of borrowing. But, do you know you can borrow a loan by using a logbook. Yes, it is true, now you can borrow a logbook loan.

A logbook loan is a kind of personal loan secured against a car. A UK resident who has a logbook registered in their name is eligible for logbook loans. Lenders in exchange keep the logbook of the borrowers with them against the loan. Borrowers can enjoy the complete freedom to drive their car without any restrictions from the lender.

Amount that a borrower can borrow with a logbook loan ranges from £500 to £50,000. The loan amount is determined on the basis of value of the car minus any outstanding payments due to be made on the car.

Following criteria are to be met to become eligible for a logbook loan:

To be eligible for a logbook loan, the logbook should be in the name of the borrower.
The vehicle against which logbook loans are taken should be less than 8 years old.
A borrower of the loan should be in full time employment. He or she should have some regular source of income; you have to give proof of your income.
Vehicle should be clear of any finance. There should not be any due payments on the vehicle.
Vehicle should must be insured and taxed. Vehicle against which the loan is taken should be insured as the lender wants to be on the safer side.


Credit score is considered to be an important element by lenders in UK while lending money to the borrowers. The best thing about logbook loans is that it does not involve credit check. So, whatever may be your credit rating you need not worry, you are eligible for a logbook loan if you meet the above criteria. Problem cases such as people who have faced CCJs, bankruptcy can also apply for this loan.

Logbook loans can be borrowed from banks or financial institutions. But, if you are looking to get a fast and best logbook loan, you can apply for it from online lenders. Online loans offer the convenience of applying for the loan and saves time and money. A borrower can access infinite number of online lenders by using the internet from home or office.

The process of applying for an online loan is swift. Lending websites usually offer an online application form on their websites, which a borrower is required to fill. A borrower just needs to fill up this form with some personal details such as borrower's name, loan amount required and many other details. These details help a lender to find the most appropriate loan for the borrowers.

When you will search for the logbook loans online, you will find a number of lenders who will be ready to offer you the loan. But, don't get fascinated by the offers you get. Do a bit of search and you will definitely find a better option. Collect loan quotes from several lenders which are available free of cost or for nominal charges and compare them to find the best and cheap logbook loan.

It is amazing to find that besides enjoying a long drive in your car, you can also get a loan against your car. Thanks to logbook loans, now it has become pretty easier to turn your car into cash by keeping your car logbook as a security.

Author Bio
Amanda Thompson holds a Bachelor's degree in Commerce from CPIT and has completed her master's in Business Administration from IGNOU. She is as cautious about her finances as any person reading this is. She is working as financial consultant for chanceforloans. To find a Personal loan, bad credit loans, Debt consolidation and home equity loans at cheap rates that best suits your needs visit www.chanceforloans.co.uk

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Unsecured Business Loans - Fuel your business with a low cost finance

By: Maria Smith
Every business has a vision and a mission to follow. But, to achieve these, entrepreneurs need to have leadership expertise and adequate capital to finance the business. You may have the vision to reach the new heights in the world of business, but lack of funds may be stopping you from using your skills. You need not feel disheartened, unsecured business loans can provide you with the funds you need for making a mark for yourself as a "business tycoon".

Businesses vary on the basis of size. A business could be of small, medium and big size depending on the capital invested and the scale on which business operate. Businesses are also categorized on the basis of ownership or on the way they are managed such as sole proprietorship, partnership and corporations. An individual requires capital to start up or expand the business irrespective of the size of the business. Unsecured business loans can work as a great help in such cases.

Unsecured business loans are designed specifically for UK businesspersons to finance their need for capital to start up or expand a business. Unsecured business loan offers flexibility to a borrower; he can use the loan for any purpose. Purpose of borrowing an unsecured business loan may vary from person to person. The amount borrowed with an unsecured business loan can be used for the commencement of business, expansion purpose, to finance the asset or equipment purchase and refinance or to restructure finances. Some entrepreneurs use the loan proceeds as a working capital. It allows a borrower to preserve his cash and working capital.

The best thing about an unsecured business loan is that it does not require a borrower to put a security against the loan. Thus, the borrower's property is not under any risk of repossession.

Unsecured business loans are available for amounts ranging form £15,000 to £ 250,000. The repayment period of the loan vary from 1 to 20 years depending on the amount of loan a borrower wants and his or her credit history. This loan is best suited for short term and small cash needs.

A borrower by applying for an unsecured business loan gets the following benefits:


Retention of the Ownership - An entrepreneur can retain the current ownership in his company instead of raising funds by selling interest in his company to an outsider.
Cash Flow management- Unsecured business loan provides borrower an access to capital with minimal up-front payments and the flexibility to design a loan repayment schedule suitable to your finances.
Tax Advantage- Interest on the loan is tax deductible. Thus, can help in saving hard earned money of the borrower.


Each loan requires a borrower to pay interest on the amount borrowed. Unsecured business loan are usually provided at higher rate of interest as no collateral is put against the loan. You can either choose to pay a fixed interest rate or variable interest rate on the amount borrowed. In a fixed rate business loan, the interest rate applied to the outstanding principal remains constant for an agreed period that may be the loan term. Variable interest rate imply that rate of interest on the loan is not constant and fluctuates to common standard rate.

You need to understand the fact that the lender is entitled only to the interest on its loan. You are not liable to pay any percentage of the profits or a share in the company that an investor would expect.

A good credit history is always useful while applying for a loan. In case of an unsecured business loan, absence of collateral makes it necessary for a lender to recognize or identify the credit worthiness of the borrower to avoid any default by the borrower in the future. Higher the credit score, higher is the possibility of getting a cheap and fast loan, so work on your credit score and you will see it doing wonders for you.

Though, there are various lenders in the finance market. Online lenders can help you overcome all the shortcomings that you must have faced while borrowing from the traditional lenders. Apply for an online unsecured business loan that will save your time and money. You just need to fill up a small application form online which hardly takes few minutes and the lender will get back to you with the appropriate loan option. If you are looking for the best loan, then don't relax. Collect loan quotes from various lenders and compare them, I assure you will definitely end up with the best deal.

Profit maximization is the main objective behind every business. But, to accomplish it, requires a lot of hard work and dedication on the part of the entrepreneur matched with adequate capital investment. Unsecured business loan can provide with the funds for your business, follow your intuition and work with dedication. And one day you will be known among the top businessman of the world.

Author Bio
Maria smith has not been writing articles from the beginning. But the increase in perplexing loans information has urged her to write on different loans types. So she writes in a way that is logical, comprehensive and understandably meant to cater to the need of general public who is left breathless while searching for loans. To find a Loans UK, secured loans, unsecured loans, Debt consolidation at low interest that best suits your needs visit www.loansfiesta.co.uk

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An Overview of Student Loan Debt Consolidation

By: Angela Rogers
A student loan debt consolidation loan allows you to combine your federal student loans into a single loan with one monthly payment. The repayments of a student loan debt consolidation loan can be significantly lower than the payment required under the standard 10-year repayment option. Under the Federal Family Education Loan (FFEL) Program, banks, secondary markets, credit unions, and other lenders provide the student loan debt consolidation loan. Under the William D. Ford Federal Direct Loan (Direct Loan) Program, the federal government provides the student loan debt consolidation loan.

Most federal education loans are eligible for inclusion in a student loan debt consolidation loan, including subsidized and unsubsidized Direct and FFEL Stafford Loans, SLS, Federal Perkins Loans, Federal Nursing Loans, and Health Education Assistance Loans. However, private education loans are not eligible for inclusion in a student loan debt consolidation loan.

To find out which loans can be included in a student loan debt consolidation loan contact the Direct Loan Origination Center's Consolidation Department if you're applying for a direct student loan debt consolidation loan. Contact a participating FFEL lender if you're applying for a FFEL student loan debt consolidation loan.

It is worth noting that you are still eligible for a student loan debt consolidation loan after you graduate, leave school, or drop below half-time enrollment. You can also get a student loan debt consolidation loan while you're in school. You must, however, be attending at least half time and have at least one Direct Loan or FFEL in an 'in-school period' which generally means that you have been continuously enrolled at least half time since the loan was disbursed. There are a number of conditions that need to be met for you to qualify for a student loan debt consolidation loan, especially if you are delinquent or in default and your loan holder will be able to give you all the necessary information.

If the same holder holds all the FFEL loans you want to consolidate, you must obtain the student loan debt consolidation loan from that holder, unless you haven't been able to get a loan with income-sensitive repayment terms that are acceptable to you. To be eligible for a William D. Ford direct student loan debt consolidation loan, you must have either a direct Stafford subsidized or unsubsidized loan that will be included in the student loan debt consolidation loan or have at least one Federal Family Education Loan (FFEL) program Stafford subsidized or unsubsidized loan.

Get out of debt - debt help and relief guide: www.debt-helper.info

Author Bio
Angela Rogers is the editor for www.debt-helper.info - Your guide to debt help and debt consolidation.

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Student Loan Consolidation Rates - Helpful Tips

By: Dean Shainin
Student loan consolidation has many benefits. Before you sign up on the dotted line, you should know how to get the best student loan rates. If you are tired of too many bills and monthly due dates, it may be time to find the best student consolidation loan you qualify for.

The most obvious way to get the best student consolidation loan rates, is by having great credit. It's easy to get great student consolidation loan rates with a FICO score over 660. But, there are several ways to get the best student consolidation loan rates.

Know Your Credit Before Shopping For Student Consolidation Loan Rates
By doing a simple Google or Yahoo search on FICO and credit scores to find the information you need to check out your credit score. This really should be your first step to getting the best student consolidation loan rates. With knowledge, you will get the best student loan consolidation rates for your financial situation.

Student consolidation loan rates can vary from person to person. The student consolidation loan rates offered will be based on your financial situation and FICO score. With a FICO score under 600, you will have a tough time getting a good student consolidation loan rate.

Refinancing And Home Equity Loans Used For Student Loan Consolidation
With a home equity loan, you can get the best student consolidation loan rates possible with good credit. Secured by your home, a student consolidation loan can help get rid of your high credit card rates and loans. You will have less bills to pay, with the best student consolidation loan rates to lower your interest on several loans.

Refinancing your home mortgage may be an option to get the best student loan consolidation rates.

The important thing to remember with home equity loans and refinancing, is to be logical and don't let your emotions get the best of you. You may get the best student consolidation loan rates available, but you still have to pay back the loan over time.

It's best to take the time to sit down and research all your options that are available to you to get the best loan and interest rate.

Resources Online For Getting The Best Student Loan Consolidation Rates
With today's Internet resources, you have an advantage when looking for the best student loan consolidation rates online. Take time to get educated on the process of getting the best student consolidation loan rates, and you can save yourself thousands of dollars on the student consolidation loan rates available, with just a few clicks of the mouse.

The idea is to combine all your current debts that you owe into one large debt with the lowest interest rate possible. Instead of making monthly payments on several high interest loans ranging from 12% to 28%, you can make one payment each month to one company.

Today's career minded students can get help with the burden of having several student loans. You can focus on your career, instead of losing sleep over paying several monthly loan payments. Student loan consolidation can be the solution with many advantages. With today's Internet technology, you can get a student loan consolidation quickly and easily.

Author Bio
Dean Shainin is a consultant specializing in student loan consolidation. Get valuable resources, tools, information and more articles on student loan consolidation, visit this site: www.studentloanconsolidationtips.com

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Student Loan Consolidation Can Help

By: Dean Shainin

Today's career minded students can get help with the burden of having several student loans. One can focus on their chosen career, instead of losing sleep over paying several monthly student loan payments. Student loan consolidation can be the solution with several advantages.

How Student Loan Consolidation Works
Here is typically how a student consolidation loan works. When a student first applied for several loans from several different agencies and student loan providers, they each gave a different interest rate and term for paying back the loans. The idea of student loan consolidation, is to take all the different student loans and put them into one easy convenient loan. You them only have to make one monthly loan payment every month, instead of several loan payments every month over time. This saves the student both time and money. Having a lower interest rate and less checks to write every month are a couple of advantages of doing a student loan consolidation.

5 Helpful Benefits of Student Loan Consolidation
1. Lower Monthly Payments. Depending on your student loan situation and the type of lender you choose, you may be able to lower your monthly payments by up to 50%

2. Having Simple Loan Payments. By consolidating your student loans, you only have one loan payment per month and one check to write. This is very beneficial if you are writing several checks every month to multiple lenders.

3. Having Fixed Interest Rates. With some federal consolidation loans you can have a fixed rate for the life of your student loan. It's best to do research to see what the best interest rates and term you are eligible for. You can check online to calculate the interest rate on a new student consolidation loan based on the rates of your current student loans. You can then round up to the nearest 1/8th of a percent of the we
ighted average of the interest rates on your eligible student loans.

4. Extending Your Payment Period. You may have a lot of student loan debt. With federal consolidation loans you may be able to extend the payment term up to 30 years. It's a good idea to realize you will end up paying more interest over the life of your student loan consolidation. The idea is to get some leverage until your career takes off. You can focus on making money instead of several monthly loan payments.

5. In School Consolidation Programs. While still in school, eligible students can lock in a low rate. This would put you into repayment status, but since you are still in school, you are automatically put into deferment. The drawback of consolidating your loans while in school, is that you lose your 6 month grace period. The solution to this would be to request forbearance for up to 1 year on your student loan consolidation. Here again you can do some research and get more information online.

Student Loan Consolidation Help Online
With today's Internet technology, you can get a student loan consolidation quickly and easily. The Internet makes research and finding great programs, easy as a few clicks of the mouse. You can learn everything you need to know from information sites that provide the latest news and data in regards to student loan consolidation. With just a few clicks of the mouse, you now can get loan quotes and compare loan companies without having to run all over town.

Student Loan Consolidation Helps Relieve Stress
Student loan consolidation can help student loan borrowers focus on their education, instead of debt. With a single new loan and lower monthly payments, you can focus on what's most important, education and your new career. There is no need to lose sleep stressing out about how you're going to pay back all those student loans. There are several agencies and companies online that can help with many resources and information to get the help you need.

Author Bio
Dean Shainin is a consultant specializing in student loan consolidation. To get more ideas, articles, resources and information, visit this site: www.studentloanconsolidationtips.com

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Student Loan Consolidation - Big Benefits

By: Dean Shainin

You can benefit from student loan consolidation, but there are things you should consider. It's a good idea to start looking into how you can consolidate your student loans before the grace period ends. Big monthly student loan payments can be stressful when starting a new career.

Why Should I Consolidate My Student Loans Now?
There has never been a better time than now, to take advantage of the lowest interest rates in recent history. A student can get the best deals for consolidating debt and lower those monthly payments. Student loan consolidation can save you hundreds of dollars per year on repaying your student loan.

How Does Student Loan Consolidation Work?
When a student first applied for loans from several different government agencies and loan providers, they each gave a different interest rate and term for paying back the loans. The idea of student loan consolidation, is to take all the different loans and put them into one easy convenient loan. You then only make one monthly loan payment over time. This saves the student both time and money. Having a lower interest rate and less checks to write every month are the big advantages of consolidating a student loan.

Student Loan Consolidation Is Now Easy Online
You can now get a consolidation loan online quickly and easily. The Internet makes research and finding great programs, easy as a few clicks of the mouse. You can get done in a day, what would in the past, take weeks to accomplish. You can learn everything you need to know from information sites that provide the latest news and data in regards to student loan consolidation. This empowers you to get the best deals on student loan consolidation. With a few clicks of the mouse, you can get loan quotes and compare loan companies that are competing for your business.

Consolidation Loans Can Relieve Stress
Student loan consolidation can help student loan borrowers focus on their education, instead of debt. With a single new loan and lower monthly payments, you can focus on what's most important, education and your new career. There is no need to lose sleep at night stressing out about how you're going to pay back all those student loans.

Author Bio
Dean Shainin is a consultant specializing in student loan consolidation. To get more ideas, articles, resources and information, visit this site: www.studentloanconsolidationtips.com

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Self Employed Loans - by Lenders Who Do Not See Self Employment in Poor Light

By: Ann Gibson
There are many instances of people who gave up their cosy and paying job for the want of starting their own operations. Being self employed gives them the thrill of being able to work on a project from start to finish. It also helps them in making full utilisation of their skills. Lenders however do not consider the self employed worthy enough to qualify for their loans. Regular loans require a systematic payment from the borrower's side. Self employed people, with an unsteady incidence of income are deemed incapable of making regular payments.

The reason behind lenders refusal to self employed people is in no way motivated by the concern for safety of the amount lent. Lenders are well aware of the high paying potential that self employed people can offer. It is for this reason that a large number of loan providers have come up with special loan deals for the self employed people. These loans are known as self employed loans and are built in a form as to incorporate the features of the self employed people.

Trying to find a way by which self employed borrowers can make payments towards the self employed loans and also not be tied to fixed obligations, loan providers hit upon the flexible method of payment. Under a flexible method of payment, the loan provider does not tie borrowers to a watertight payment structure. The borrower has the option to pay as much as he wants against the loan taken. The months when profits see a high, payment too can be made of a higher amount. The higher payment will provide for the times when profit from operations is not as high. These are the times when underpayment on account of self employed loan can be made. The payment is left for the borrower to decide. He can decide the payment according to his state of financial affairs.

Payment holidays form another important feature of self employed loans. A payment holiday is when borrowers take complete off from making payments. This is when borrowers' finances see a bad turn or when the borrower has other important expenses to make. Borrower must discuss his financial situation and the reasons behind the payment holiday with the loan provider before payment holiday is approved.

Would lenders have accepted to mould the repayment structure in this manner in a regular loan? No! Most loan providers expressly prohibit overpayments or underpayments stating that such moulding of the repayment structure of a regular loan would increase the number of calculations that they have to make. Thus the borrowers of regular personal loans have to make fixed payments whatever be their financial status.

Self employed loans are also beneficial for borrowers who have experienced bad credit history in the near future. Through self employed loans, such entrepreneurs can raise the necessary finance easily. Any regular loan lender would have fussed a lot on the bad credit history and would have raised the interest rate largely.

Self employed loans help borrowers make up for an important discrepancy. The self employed people are not able to prove their income. In fact, they cover up their income to evade taxes. Lenders, who need income records to check viability of borrower for loans, feel unsafe to deal with persons who only claim to have a certain income. Self employed loans can in such cases work as a self certified loan where borrowers have to themselves certify their income.

For the convenience and flexibility that is offered on self employed loans, the self employed people will have to make an extra payment in terms of interest. Self employed loans carry a higher percentage of interest. Still borrowers will not feel the pinch because interest rates now are at an all time low level. The typical interest rates or APR start from 7%. At any other time, borrowers would have to pay expensively for the self employed loans.

Self employed loans present an important method whereby borrowers can convert the excess of equity in their home. The terms on which self employed loans is lent is further going to improve if the borrower has pledged certain collateral to the loan provider. The loan proceeds can be conveniently used for any of the personal as well as business purposes that the borrower desires. Lenders, in a bid to make the self employed loans more flexible, wouldn't interrupt in the borrowers' decision of usage.

Author Bio
Loan borrowing is like once in a life time decision and much is at stake. It is indeed not a good thing that many people are misguided into taking loans that are not appropriate to their financial situation. This leads to many allied misgivings. As a financial consultant the only driving force of Ann Gibson is to provide proper knowledge. Because knowledge in respect to loan borrowing is power and exudes financial benefits. He works for uk debt consolidation site uk debt consolidations. To find a uk debt consolidation loan, debt management that best suits your need please visit www.ukdebtconsolidations.co.uk

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Benefits of Secured Loans - Comes as Freebie for the Borrowers

By: Aldrich Chappel
It is often seen that as years pass, newer alternatives of older things crop up while the older things fall into oblivion. Secured loans however have withstood competition from a whole range of financial products such as unsecured loans. Unsecured loan lenders tried to deflect borrowers from secured loans by showing them that there home was at increased risk if they took the loan. But, the borrowers who were loyal to secured loans and who knew that secured loan was not as being presented by some others, didn't move a bit from their choice. Accordingly, secured loans continue to maintain their turf even after years.

Do you know the reason behind borrowers' insistence to use secured loans? Secured loans help borrowers enjoy a large number of benefits. And borrowers are not ready to give up these benefits by not taking secured loans.

Before going towards the benefits of secured loans, it will be relevant if we discussed about secured loans first. A secured loan is one where amount is lent to the borrower with a pledge that he will repay the loan after a specified period. To give more teeth to the lender, the borrower will have to present certain collateral.

The list of benefits of secured loans to borrowers is endless. Apart from the standard benefits, there are several benefits that will depend on the case particulars. However, we will only talk of the standard benefits of secured loans in this article.

The very first benefit of secured loans is the cheap rate of interest. After mortgage, secured loans charge the lowest rates of interest in the personal finance category. Typical APR on secured loan ranges from 6-25%. Almost all other financial products charge a greater percentage as interest. Many borrowers question the differences between the rates advertised and the actual rates that they have to pay. There may be several reasons for these differences. The rates of interest or APR advertised is the standard rate of interest. However, depending on the value of collateral, borrower's credit status and several other factors, borrower may not be offered the standard rate. The differences in interest rate may also result because of the delay in accepting the offer. Until borrower accepts offer of loan, interest rate in the entire market changes. The borrower cannot then demand interest on the rate earlier offered.

Another important advantage of secured loans is that borrowers can draw as much of cash as they want. Compare the situation with unsecured loans and you find loan providers cautious in approving loans of higher values. There is always the fear for the non payment of the lent amount. In the case of secured loans, the loan provider is free of any such fears. Thus, borrowers have to just name the figure and the loan is ready.

The discussion about the benefits of secured loans will be incomplete without taking up the issue of easy availability. All financial products are not as easily available as secured loans. It is because of the relative safety that secured loan deals promise to the lender, that no lender will deny these loans to borrowers. Go to any loan provider and you will find secured loan deals.

Secured loans are to be used for a diverse range of personal needs. The benefit of secured loan is that it can be fine-tuned to any use. Whether it is debt consolidation or undertaking improvements in ones home, secured loans work as smoothly as ones own cash. The borrower receives the loan proceeds and it is up to him how he uses them. There is a flexibility of use in secured loans. Lenders do not interrupt in the manner of use of the secured loan.

The benefits of secured loans can be best enjoyed when the borrower has adequately prepared for its amortisation. Would one be able to appreciate the low rates of interest when the asset pledged as collateral is being repossessed by lender? No! Therefore, preparations for the repayment of the secured loan from the first day itself. Either make a monthly payment to the loan provider or discuss an alternative arrangement with the lender. Choose the method of repayment that best suits you and then clear the burden as soon as possible.

Author Bio
Aldrich Chappel has been associated with get-secured-loans,since its inception. Having completed his Masters in Finance from Lancaster University Management School, he undertook to provide useful advice through his articles that have been found very useful by the residents of the UK. To Find Secured loans, loans for homeowners, best secured loans UK visit www.get-secured-loans.co.uk

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Loan Cover - Watch Out for Payment Protection Sharks

By: Michael Challiner
The Financial Services Authority (FSA) has been investigating the way Payment Protection Insurance is being sold by loan providers which include some of the UK's biggest banks and building societies. And it's big business. Sales of PPI as it's called, earn lenders more than £1billion a year.
PPI is designed to protect borrowers by paying monthly loan repayment in the event that the borrower becomes unemployed or unable to work though accident or illness. Many lenders sell the insurance alongside the loan with around 50% of customers agreeing to the insurance.

However, according to the Department of Trade & Industry, only 4% claim and of these claims 25% are rejected. This may be partially explained by the FSA's investigation which found that around half of the lenders surveyed failed to explain the details and exclusions to customers or make sure the insurance was suitable for the clients. Whilst the investigation reportedly does not find that lenders are compulsorily selling the insurance, it was frequently automatically added to loan quotations without it being disclosed that the insurance was, in fact, optional.

Even worse, some lenders are failing to point out to borrowers that the cost of the insurance for the full period of the loan, was being added as a lump sum at the outset rather than being paid as a monthly premium. This means that the borrower cannot cancel the insurance without redeeming the entire loan and renegotiating a new loan.

And hey, some of these lenders certainly know how to charge for PPI. According to Simon Burgess, Managing Director of British Insurance Ltd, one of the big high street banks typically charge £30 per £100 of loan insured. This, he says, compares with between £4 and £6 if bought separately on the internet. This view is supported by price comparison service uSwitch which says taking out PPI with banks can increase the amount you pay for cover by nearly 500%.

Take an example. Last year a high street bank was charging £5,150 for PPI to cover a loan of £16,000. The cost of PPI was then added to the loan making £21,150 as the total capital repayable and interest charged on the lot. This meant that of the £300 monthly repayment, about £70 represented the cost of the insurance. Equivalent insurance can be bought on the Internet for around £20 per month and cancellable at any time without penalty.

So what are the lessons?

If your lender offers you PPI cover ask for the monthly premium with and without PPI. That way you can see the true cost of PPI.
Find out whether PPI is added to the loan as an initial lump sum. If it is back off!
Shop around for competitive quotes. A search on the Internet for "Payment Protection Insurance" or "Income Protection Insurance" will find you lots of web sites to try.
Check out the conditions on the insurance. Particularly check out the exclusions which invalidate a claim. For example, some policies stipulate that you must have been working continuously for 6 months prior to a claim for a minimum of 20 hours a week. Seasonal or temporary work is usually excluded. When you take the insurance out you must be in good health and know of no impending disability and not be aware that you could become unemployed. Could these exclusions apply to you? If so, the insurance will be of no use to you.

Please don't waste your money. PPI insurance is a good idea so long as it is cheap and on a monthly cancellable contract. After all your circumstances may change. Then check the policy's exclusions to make sure that the insurance is valid for your personal circumstances.

Author Bio
Michael writes for Brokers Online a large UK based financial website. Brokers Online offer most UK financial services including insurance, loans and life insurance. www.life-assurance-bureau.co.uk

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Home Equity Loans Make Financial Sense

By: Mike Hamel
The optimum word in "home equity loan" is equity. Start with the fair market value of a home, subtract the mortgages (first and second) and any liens against the property, and what you have left is the equity. This equity can be used as collateral to secure cash in the form of a loan or mortgage.

The amount borrowed is based on a percentage of the appraised value of the home. The percentage rate can vary from 75% to 125%. The length of the financing will also vary. The two main types of home equity loans are fixed rate loans and adjustable rate loans.

Fixed rate loan - provides a fixed amount of money at a fixed rate of interest, repayable in equal payments over the life of the loan. Fixed rate financing costs more in set-up fees and comes at higher interest than adjustable rate loans. But if homeowners stay put and interest rates go up, they will save money over a comparable adjustable rate loan.

Adjustable rate loan - the interest rate goes up or down according to the index upon which it is based. Adjustable rate loans will have a cap on how high the interest rate can go. Usually called ARMs (Adjustable Rate Mortgages), this type of loan has lower up-front costs and starts at a lower interest rate than fixed rate financing. This means lower initial monthly payments.

Putting home equity to good use
According to the Consumer Banker Association, the top ten reasons for getting a home equity loan are:


10. Vacation
9. Medical expenses
8. Business expenses
7. Household expenditures
6. Investment
5. Major purchase
4. Education expenses
3. Automobile purchase
2. Home improvement
1. Debt consolidation


Debt consolidation, the most popular reason people cash out their home equity, is a smart form of financing because of the money it can save. For example, say you owe $15,000 on a credit card that charges 17% interest. If you get a debt consolidation loan at 9% interest and pay it off in five years, you'll save you over $30,000!

If you're paying more than 15% interest on anything, you should seriously consider a debt consolidation loan. The right terms could drop your monthly payments by 35% - 50%, depending on interest rates, origination costs and tax consequences.

Even for people who have bad credit or who have filed for bankruptcy, a home equity loan is not out of reach. It can be a good way to make a fresh start. Websites like www.easyhomeequitymortgages.com help borrowers with bad credit get the home equity loan that best fits their unique situation.

Author Bio
Mike Hamel is the author of several books and the Senior Writer for AIM Techs (www.salesandmarketingllc.com), an Internet marketing company that specializes in improving visitor-to-sale conversions using proprietary software and advanced SEM techniques.

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Debt Consolidation Loans

By: Jennifer Hershey
Wouldn't it be nice to make just one payment per month instead of several? Most of us not only have a mortgage payment. We have car payments, credit card payments, student loans, etc.

If you have been living in your home for a reasonable amount of time and you have acquired enough equity, you might want to consider a debt consolidation loan.

A debt consolidation loan is using the equity you have acquired in your home from monthly payments and appreciation to pay off all of your outstanding debt, leaving you with one monthly payment instead of several.

Consolidating your debt has the potential to save you a lot of cash on a monthly basis if you have accumulated a lot of debt.

The interest rates on credit cards alone are considerably higher than that which you would receive on a mortgage.

Another benefit is the interest you pay on your debt consolidation loan is tax deductible, unlike your other debt.

Consolidating your debt is a great way to save money, but don't just dive in. Take the time to educate yourself about the mortgage industry and definitely shop around for the best deal. The mortgage industry is very competitive, so let them compete for your business.

Another benefit to consolidating your debt is that it will help your credit score go up.

The accounts you have outstanding that you owe money to are called open trade lines, by paying these off and than closing a few of them to keep your debt under control, you will be effectively increasing your credit score over time, which is how lenders determine your payment history.

Author Bio
Jennifer Hershey has more than twenty years of experience in the Mortgage Industry as a loan officer. She is the owner of a mortgage resource site devoted to making mortgage terms and products easy to understand.

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The Average Profile of Customers Opting for a Payday Loan Cash Advance

By: Angelina Rosario
Payday loans are loans of a small amount, taken for a short duration of time. Payday loans are generally meant to be paid off on the next payday.

Payday lenders loan out thousands of dollars every week to people who are in dire need of money. The Community Financial Service Association of America, payday loan cash advance industry extends to about $25 billion.

Payday lending is often regarded as something predatory and it is of the common belief that payday customers are being used as fodder by the money hungry payday lenders. However, the various researches undertaken throughout the years contradict the view that payday loans are predatory and the borrower is always being preyed upon. In fact, recent studies have shown borrowers preferring payday loans to other loan alternatives.


The huge Annual Percentage Rate (APR), in the range of 391% and higher often makes it intriguing as to the people who opt for these loans. But studies conducted throughout the States show that people from all walks of life consider payday loan cash advance as an affordable option to meet their financial needs.

The US Census report of 2000 show that 22% of the surveyed payday loan borrowers hold a bachelor's degree from college. More than two-thirds of the people surveyed reported an annual income of a minimum $25,555 and has a savings account. Also, 51% of the surveyed population had a retirement savings plan.

Viewing the industry statement, it seems that the payday cash advance customer has more than average level of education than the general US population.

A typical payday loan customer is between 25 to 40 years of age and has an annual income between $25,000 and $50,000. Also people from all walks of life, including teachers, civil servants and corporate employees considers payday loan as an efficient solution to the short term financial emergencies.

For more information on payday loan cash advances, visit:
www.ampmcash.com/money-savings.html

Author Bio
Angelina Rosario is associated with Ampm Cash.com. She is an expert author in the Payday loan Cash advance industry. She has written on different aspects of payday loan cash advance and debt management solutions. Visit her site www.ampmcash.com for the latest articles, news and resources on Payday loan cash advance.

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Cars and Credit Reports

By: Tom Justice
The Problem
I was driving home from the store the other night when I noticed a license plate that made me laugh to myself and then I proceeded to feel sorry for the poor sap driving. The plate read "0 DOWN". It was a white, shiny, new Ford Explorer (probably an 06'). Here's what really got me about the caption: Not only did this consumer purchase a brand new vehicle with no money down, but he was proud of it. DUMB! Commercial advertisements and society as a whole embeds the "Buy Now, Pay Later" method into our heads and it works so well that around 90% of all consumers who purchase new cars do not put $5 down on the vehicle before signing the papers. The sad fact is, is that the average new automobile loses $3,000 as soon as it leaves the lot. Technically, you have gone into debt for something that loses value before you even use it. As if this wasn't depressing enough, the less money you put down on a car and the worse off your credit is, the more you pay for the car. If this isn't one big sand trap I don't know what is!

The Role of Your Credit Report

Your online credit report is affected 2 ways when you buy a new car with no money down. First let's look at the role it plays after you decide you NEED that shiny new sports car. The mass majority of consumers are thinking of one thing when they sit in the 'sales chair' to go through the paperwork: driving the car home (man this is bringing back some bad, bad memories). In order to do this you will need to finance the vehicle which requires pulling up your credit history and your credit report. This can easily be done online right in the sales office while you look around to make sure no one else tries to sneak off with your new toy. The worse off your credit report is, the higher interest rate you will pay. (This is fine though as long as you can still afford to buy food every other week and pay a few bills here and there.)
The other role that your credit report plays in this game is the after-effect. The average new car buyer's car payment is 25-30% of their total income. This creates a nice, big road block on your credit report in itself for when you are ready to make another large purchase. Not to mention when you fall behind on even one payment and your credit file takes a hard blow. Try to keep these factors in mind next time the kid in you tries to make a financial decision.
The Solution

Well you're not going to like the best solution but here it is anyway: PAY FOR THE CAR IN FULL! If you saved the car payment every month in a good money market account; not only would you save time and money, but when you walked into the sales office with piles of hundred dollar bills you would get quite a deal! Okay, so you're more likely to win the super lotto than do that right?

Well here are a few ideas. As long as you practice a few you might get ahead of this nasty game a little bit or at least protect your online credit report. First, consider getting a 2 or 3 year old car. You can still get a shiny one and the previous owner will have taken the major depreciation of the vehicle passing the savings directly to you. Second, if you can, try waiting and searching to find the best deal possible. Trust me, there is more than 1 of those cars in the market. Third, put something down. Anything! For starters you could put down 10 to 15%. This will lower your monthly payment, lower your interest rate and maybe even cut your payoff time down. Lastly, get a bargain. Don't settle for the asking price by any means. Be patient and keep control of your focus. One definition of maturity is learning to delay pleasure.

Author Bio
Tom Justice is the webmaster for Clean Credit Online and does all the designing, marketing, SEO and maintenance for the site. He has a passion for personal finance and how the economy and consumers are affected by money. To see how you can use Clean Credit Online to help you with your personal finances please visit www.cleancreditonline.com

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Easy UK Loans - Loans Now Come Handy

By: Alex Jonnes
You may go for shopping with friends and family. What is the foremost thing you keep into consideration - price or brand? Different people have different perceptions; some of you may be brand conscious while others keep their eyes on price while shopping. Whatever you may be shopping a loan or a home, "convenience" factor plays the key role. Convenience connotes the easiness of shopping and how fast one can get the best thing he or she is looking for. The same factor rules the world of borrowers in the UK who wish to get the loan quickly and with ease.

Finance market in the UK is swamped with vast number of loans. Various forms of loans are available ranging from home to business loan. With the growing needs of the UK residents, lenders are trying to introduce new loan options to cater to their diverse needs. Speed and convenience rules the mind of borrowers in UK. But, is it that easy to choose a loan as it seems. Yes, if you can search for the lenders who can offer you an easy UK loan without much hassles.

First of all, you have to identify which loan you want to borrow. A personal loan can be borrowed to meet personal needs such as consolidating debts, making home improvements, starting up or expanding your business. Personal loans are further categorized as secured and unsecured loans. If you own a home or any property and loves taking risk you can apply for a secured personal loan. But, the process of borrowing takes a bit long time as the lender has to evaluate the value of the property you have put as a security against the loan. A secured loan gives the benefit of low monthly payments and loan with the longer repayment term.

If you are a tenant or a homeowner, you can apply for an unsecured loan. You are not required to keep your home or property at risk. The time taken in the loan process is considerably less. An unsecured loan bears a high rate of interest.

A homeowner can also apply for mortgage loan. He needs to keep his home as a security. Mortgage facilitates loan at better terms based on the equity stored in the home.

Once you decide which loan you want to borrow. Now, you need to search for the lenders who can offer the loan you need. Loan market is filled with countless number of lenders. In the past, borrowers had limited choice offered by traditional lenders, banks and financial institutions.

Entry of online lenders has given a new dimension to the loan market. Online lenders are definitely contributing a lot to the growth of market. Online loans are easy to apply and give complete comfort to the borrowers. Borrowers no longer need to approach physical lenders personally and stand in queues to submit their loan application. And then wait for the lenders decision to find out the status of your loan application.

Everyone wishes to save his or her valuable time. Online loans make it easier to apply for a loan. Borrowers can access infinite number of online lenders by using a computer equipped with latest technology namely internet, from the same place it could be your home or office.

Online lenders offer the convenience of applying for the loan. A borrower just needs to fill up a small and simple online application form which hardly takes few minutes. Loan representatives working for online lenders will go through your application and will give you the in-principle decision within 24 hours. Thus, the online process of applying for a loan offers complete convenience.

But, don't get settled for the very first loan deal you are offered. Accept the challenge to find the best loan. Collect loan quotes from several lenders, compare them and I assure you will definitely end up with the best deal.

The popularity of malls in UK shows that the trend of collection of everything at one place makes it easier for a customer to select the products he wishes to buy from the vast variety of products available. The same convenience is offered by online loans; one can access infinite number of online lenders and loan products and can choose the loan that matches his or her requirements to the best.

Author Bio
Alex Jonnes is associated with Easy Debt Consolidations.
He has a Masters in Business Administration and writes on various finance related topics. To find Debt consolidation loan bad credit, debt consolidation loan lowest interest rates visit www.easy-debt-consolidations.co.uk

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Computer Loans - Become Techno Savvy the Easier Way

By: James Taylor
I read of computer loans as a banner advert on a website. The loan provider had mentioned of easy finance options to help people purchase computers. Suddenly the dream of owning a computer became so easy to realise. It had been my insistence to purchase a branded computer and an insufficient personal income that were obstructing me from the purchase. But, now with the finance options in hand, computers from the best known companies are not far off.

Computer Loans have been born out of the idea of assisting every person in the UK to have a computer of his own. It is difficult to do without computers in the present age. Whether it is a simple classroom work for kids or your own office work, almost everything demands a computer. Such is the craze of computers that people will prefer to have a computer just as people would have craved to have television in its heydays.

People desirous of purchasing computers can easily apply for computer loans. Computer loan is similar to a personal loan, as far as the terms go. Though computer loans have a long list of benefits for borrowers, the best among these is the facility of stretched payments. Payments in a computer loan are stretched over a period called the term of repayment. Had it been for a cash purchase of the computer, borrower would have to pay the price of computer immediately. Only those with enough cash to make the immediate payment would have been able to purchase computers.

However, when computers are purchased through computer loan, borrower does not have to pay to the seller through his own pockets. It is the loan provider who makes the payment instead of the borrower. However, it will appear as though the borrower is making the payment. Bargaining on price, commonly associated with cash purchases can be conducted on purchase through computer loans too. This is because the borrower has the loan proceeds with him and he has the discretion on the manner and the amount up to which he wants to use the computer loan proceeds.

The amount that one had to pay to the computer dealer will now have to be paid to the computer loan provider. The manner in which computer loan is to be amortised is an important decision. The complexity of the decision increases because of the multiplicity of options available for loan repayment. You can either make a balloon payment towards the loan or pay through instalments that accrue monthly or quarterly.

Balloon payments are advantageous for borrowers who hope to lay hands on a sizable sum in the near future. Interest charges are significantly reduced through this method. The alternative method whereby payments are to be made through periodic instalments will bring greater interest to borrower's loan, but suits people with fixed incomes.

Interest is the cost of inflation on the amount lent to borrowers. Typical interest rate on a computer loan ranges from 7.25% to 15%. APR is generally dependant on the amount of loan that is being taken and the borrowers' credit status. Yes credit history is not going to leave you even in computer loans. A good credit history is preferable to get a larger amount for computer loans at cheap rates. Loan providers who work with sub-prime borrowers may arrange good deals for the borrowers with bad credit in computer loans.

As far as the question of mode of application goes, it is easier to apply for computer loans online. Borrowers who are about to purchase computers are already too techno-savvy to be explained the online process of application. In brief, the process of online application will not require the borrower to visit lenders office. By logging onto the lenders website and filling up his details in the application form given there, the applicant can initiate the approval process.

Computer loans help boost the technological revolution by making computers more accessible.

Author Bio
James Taylor holds a Master's degree in Commerce from JNU, he is working as a financial consultant for chance for loans. To find a personal loan or bad credit loans that best suits your needs visit www.chanceforloans.co.uk

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Ran Out Of Cash? Finance With a Personal Loan!

By: Jessica Peterson
Obviously, the best thing to do would be to count with a savings account to cope with such situations but for the majority of people who don't, a personal loan is a much better source of finance than using a credit card.

Credit and Debt experts call running out of cash a liquidity problem. Unless of course the problem is recursive in which case, you would be facing an income problem. There are plenty of ways to solve such difficulties but each one has different costs and advisors suggest personal loans as the best solution for sudden lack of cash difficulties.

Problems With Credit Card Financing

The usual solution people find for these situations is to make use of their credit cards. With luck, the problem is solved in the short term. However, other problems will arise if you always resort to credit cards when running out of cash. Credit card debt accumulates easily and generates certain dependency that may trigger additional problems.

Since credit cards offer the option not to pay the balance in full and even pay only the minimum payment which is usually consistent only of interests, the capital keeps rising and so the interests. Besides, the interest rate charged for credit cards is rather high compared to other finance options such as personal loans.

All the above gives the user, the idea that he can keep on spending and prevents him from concentrating on the sources of his lack of cash problems. The lack of budgeting will sooner than later lead to debt problems. Many Americans are today finding out this fact the hard way. Defaults and bankruptcy are at the highest peak in decades.

What Benefits Do Personal Loans Provide?

As opposed to credit cards, the debt you incur when you apply and get approved for a personal loan is fixed. Moreover, unless you close a deal with a variable interest rate, the monthly payments are also fixed. Thus, you don't run the risk of debt accumulation as long as you meet the monthly payments on time.

This fact also contributes to making things a lot easier at the time of budgeting. The loans monthly payments can easily be included in a monthly budget as a fixed amount even if the rate is variable. Besides, all variations are highly predictable and any differences can be included by stating a possible range of the amount of the monthly installments.
Also the fixed nature of this loans aids avoiding the temptation of incurring in further spending thus contributing to solve the problem that caused you to resort to financing due to a sudden lack of cash.

But most importantly, the interest rate charged for personal loans is a lot lower than the rates charged for credit card financing. The rates of unsecured personal loans are usually around two thirds to a half the rate of credit card financing and secured personal loans are even lower.
Credit cards can include a financing interest rate of up to 18% or even more and secured personal loans won't exceed an 8% APR.

Author Bio
Jessica Peterson writes finance articles for Yourloanservices.com where she shares her knowledge about how to get a personal loan with good or bad credit, consolidate any kind of debt, repairing a home even with a bad credit history. If you have any doubt contact Jessica at her website to get more information.

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Consolidation Loan Student Programs: Bringing Your Debt under Control

By: Colin P
If you are like many students and recent graduates, you very well have amassed a great deal of student loan debt. In this regard, you may be looking for ways in which you can bring your outstanding student loan balance under control. You might want to consider the various consolidation loan student availabilities that you can take advantaged of in this day and age. Through consolidation loan student opportunities, you can take an affirmative step towards brining your outstanding student loan debt under control.

There are a number of benefits to availing yourself of what is available in the way of consolidation loan student availabilities. The primary benefit that you can obtain through utilizing and taking advantage of consolidation loan student opportunities is a savings in the amount of interest you have been paying on multiple student loans. As a general rule, consolidation loan student programs offer interest rates at a level under what you normally have been paying on your multiple outstanding student loans.

One of the other significant benefits of a consolidation loan student program is found in the fact that you will be able to relieve yourself of recurring late fees and related delinquent charges that you may be encountering in regard to outstanding student loans. If you are like many people who have racked up student loans, you very well may be facing ever increasing late fees and the like over time. Again, through consolidation loan student programs, you can rid yourself of the burdens of late fees and other charges.

An added benefit of taking advantage of a consolidation loan student program is found in the simple fact of convenience. If you have acquired a number of different student loans, you find yourself juggling multiple payments each and every month. This can be time consuming and even confusing in some instances. With the implementation of a consolidation loan student plan or scheme, you will only have to make one monthly payment, easing the burden of keeping track of a multitude of payments each and every month.

There are a number of different financial institutions that now offer consolidation loan student programs. There are companies that specialize specifically in offering people consolidation loan student opportunities. In addition to the companies that specialize in consolidation loan student programs, many traditional lenders (such as banks and savings and loans) now have implemented special consolidation loan student programs for students and graduates. Therefore, you have a variety of sources for a consolidation loan student program to choose from in this day and age.

By taking the time to shop around and consider different consolidation loan student availabilities you will be able to find a consolidation loan student program that best meets your needs and obligations. Through research and a bit of proverbial homework you will be well on your way to brining your student loan debt well under control, to bringing your financial house into order now and well into the future. Rather than continually paying for your education, you will make your education pay for you.

Author Bio
More information on your Student Loan Consolidation

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Sunday, July 29, 2007

Premier Service in Student Loan Industry Offered

by NextStudent Education Finance Advisors
Student loan borrowers spend countless hours attempting to figure out the best way to finance their college education, including finding the best rates and deals available from lenders. Sometimes the best deals are not those that just sound great over the phone but are backed by the solid standing and integrity of the lender and its representatives. If ever there is any doubt, it is best to have the company put the facts in writing.
Since students and their parents have so many student loan options from which to choose, it is important that borrowers carefully review their choices and select a reputable lender. Such character qualities as a proven track record of honesty, excellent customer service, and a history of providing helpful information over high-pressure sales pitches are essential, according to NextStudent, the Phoenix-based premier education funding company.
Top-Notch Training Sets Standard
When students or their parents contact NextStudent they are assigned a personal NextStudent certified Education Finance Advisor. The EFA will answer all their questions and provide guidance through the often confusing student loan jungle. This ensures that borrowers receive the highest level of customer service and equips them to make the best decisions based on their individual goals and objectives for college.
With NextStudent’s emphasis on outstanding customer service and dedication to making college funding a simple, easy process, the company places high demands on its EFAs to adhere to that standard. Therefore, becoming an EFA is much more than being hired as a talented telemarketer with closing skills and getting on the phone. EFA candidates start with four weeks of in-depth training, which include both classroom time and live calls made under the direct supervision of their managers. In order to assist customers, representatives must test at 90 percent or better, or else they continue to practice their skills until that score is attained.
Next, EFA candidates spend a rigorous six months of on-the-job training in order to become NextStudent certified in each of the four product areas: NextStudent’s
Student Loan Consolidation, Private Student Loans, Federal PLUS Loans and Stafford Loans. They are not able to take incoming calls from NextStudent customers until they have demonstrated specific mastery in each area.
Quality Assurance, Promotion from Within Maintain Standard
Borrowers may be confident that they are receiving accurate information when dealing with a NextStudent Education Finance Advisor, as all EFAs carefully are monitored on a weekly basis, both directly by their floor managers and through the Quality Assurance Department.
The NextStudent certified Education Finance Advisor training program and its comprehensive quality assurance measures backed by some of the most advanced proprietary student loan technology on the market ensure that borrowers receive the premier level of service in the industry. Whether that means educating students as to their federal aid entitlements or selecting the best incentive package for their consolidation loan, borrowers can be rest assured that NextStudent EFAs are helping them make the best decisions for their college financial aid needs.NextStudent believes that getting an education is the best investment you can make, and it is dedicated to helping you pursue your education dreams by making college funding simple. Learn more about student loans at
http://www.nextstudent.com/.

Pay for Study Abroad Programs with NextStudent’s Parent Loans for Undergraduate Students

With the advent of the Internet and international communications booming, college-sponsored study abroad programs are becoming a more important aspect of higher education. These programs, which once were geared toward language and international study majors, have become a “college experience” staple and a chance for students to really immerse themselves in another culture to learn more about our global neighbors.
According to NextStudent, the Phoenix-based premier education funding company, Parent Loans for Undergraduate Students, popularly known as Federal
PLUS Loans, are a smart way to pay for study abroad programs. The PLUS Loan is available to parents year-round, even if tuition and most other education expenses have been paid. Additionally, the PLUS Loan is not a need-based loan—just about everyone qualifies for this type of loan. However, a student must have filed the FAFSA in order for the parent to be eligible for a PLUS Loan.
Generous Borrowing Limits Offered for PLUS Loans
With a NextStudent PLUS Loan parents can borrow up to the entire cost of their child’s education (less any financial aid), including books, supplies and even study abroad programs. The trick is that the study abroad program must be sponsored by an accredited college in the United States. Because these loans are funded by the federal government, the interest rates are set by the government, and all private lenders that offer these loans must offer the same interest rate. However, private lenders distinguish themselves by the benefit packages they offer to prospective borrowers—in this case to parents.
PLUS Loan Benefits Offered by NextStudent
Most PLUS Loan applicants qualify within minutes when they apply online with NextStudent’s simple application process with E-Signature. There is no grace period for PLUS Loans and repayment begins within 60 days after the loan is fully disbursed. However, PLUS Loans are eligible for the Federal Consolidation Loan Program. Additionally, a parent can consolidate PLUS Loans from different children, as long as each loan is taken out under one parent’s Social Security number.
When a parent qualifies for a PLUS Loan through NextStudent they receive the following benefits:
A 3 percent cash rebate on the remaining principal balance of a loan after the first 12-months of consecutive on-time payments
A 2 percent interest rate reduction after the first 48 months of consecutive on-time payments
A .25 percent interest rate reduction for electing to use Auto-Debit
Study aboard programs can have a positive impact on a student’s college experience. The benefits aren’t just academic, they are social, personal, intercultural, and they look great on a resume!
NextStudent believes that getting an education is the best investment you can make, and it is dedicated to helping you pursue your education dreams by making college funding simple. Learn more about
student loans at http://www.nextstudent.com/.

Federal Family Education Loan Program Lender Campaigns for Student Savings

For years, NextStudent, a Federal Family Education Loan Program (FFELP) participant, has been a major proponent of student loan benefits, assisting college students and their parents in funding their college dreams and helping them save thousands in new and consolidated loans in the process, according to the Phoenix-based premier education funding company.
In the past three years alone, 4,653,000 students have consolidated their federal student loans through FFELP lenders, receiving generous discounts and incentives that have placed these students on stable financial ground. Unfortunately, that may change shortly if proposed student loan legislation becomes law.
Benefits, Freedom to Choose at Stake
Currently, student borrowers have the ability to choose their lender and select the company that has the best reputation, customer service record and savings. If proposed student loan legislation becomes law, borrowers no longer will have the right to choose and would have to go with the federal government’s Federal Direct Lending Program (FDLP), which passes on very little real savings to borrowers.
When the government initiated the FDLP almost 17 years ago, proponents claimed that since private lenders would be cut out of the picture and consumers would deal directly with the government for loans, taxpayers would save. That has not proved to be the case; in fact the opposite is true. The FDLP has not saved taxpayers any money, but rather is operating at a $16.5 billion shortfall, a tab most likely to be picked up by taxpayers.
Using the government’s own accounting figures, cutting private lenders out of the equation actually may harm borrowers. When private lenders compete for business, they offer generous savings, discounts and other incentives that save students thousands of dollars over the course of their
student loans.
NextStudent is a Champion for Student Savings
NextStudent began offering discounts and incentives to serve more customers. This move ultimately benefited borrowers by expanding these same benefits and savings industry-wide. NextStudent also became a major proponent in saving students thousands through the outstanding incentives offered through its federal consolidation loan program. For instance, NextStudent’s Standard Locked Federal
Student Loan Consolidation Package offers a generous 1 percent LOCKED RATE reduction after borrowers make 36 consecutive on-time payments.
NextStudent believes that getting an education is the best investment you can make and it is dedicated to helping you pursue your education dreams by making college funding simple. Learn more about Student Loans at
http://www.nextstudent.com/.

Students Spring into Funding College for New School Year

Now that spring break is a gently fading blip on college students’ radar, many students are prone to coast through the final weeks of the semester and forget about more serious considerations like planning for next year. High school seniors are in a different boat altogether, diligently working their way through their first Free Application for Federal Student Aid (FAFSA). In their case, it is wise for students and their parents to monitor where they are in the college funding process and plan accordingly, according to NextStudent, the Phoenix-based premier education funding company.
Complete FAFSA as Soon as Possible
NextStudent, a Federal Family Education Loan Program (FFELP) participant, encourages all students to fill out the FAFSA as soon as possible if they have not done so already. While it is not too late to apply, it is best to submit the FAFSA sooner rather than later. The closer the FAFSA is submitted to Jan. 1, the greater a student’s chance of getting the required financial aid, since some
student loans are on a first-come, first-served basis.
Financial Aid Calendar
High school seniors shortly will begin receiving their acceptance letters, usually prior to May 1. In addition, students will receive an Award Letter from each of the schools to which they have been accepted that explains the type of aid and amounts for which they qualify.
In May, it is time for students to select the college they wish to attend and begin applying for such federal financial aid as Stafford loans and Parent Loans for Undergraduate Students (PLUS). Both types of aid are available through NextStudent and include a personally assigned Education Finance Advisor who will guide borrowers through the loan process from start to finish. To fill in the funding gap, private student loans also are available, with borrowing limits of up to $40,000 annually.
Online Tools Make Planning Easy
Another equally important avenue for students to explore is FREE money in the form of scholarships that can help cut the costs of financial aid that has to be repaid. NextStudent offers a FREE
Scholarship Search Directory that has a total of 2.4 million scholarships from 42,000 funding sources with total awards of $3.4 billion.
There are many other resources that students may use to ensure that they quickly and easily navigate the financial aid process and receive the funds they need to achieve the education of their dreams.
First, students may want to review the following
financial aid calendar to see where they are in the process so they can be sure they are on track for the upcoming school year:
Second, students may have specific questions regarding financial aid and their best options. To find these answers quickly and easily, visit the
student resouces center. For an overview of college financial aid, where borrowers will receive a “guided tour” from a Financial Aid Advisor. Finally, once borrowers have assembled their entire financial aid package and know the types and amounts of aid for which they qualify, it is time to revisit their first-year college budget. NextStudent offers a FREE College Budget Calculator.
NextStudent believes that getting an education is the best investment you can make, and it is dedicated to helping you pursue your education dreams by making college funding simple. Learn more about Student Loans at
http://www.nextstudent.com/.

NextStudent’s Commitment to Customer Education Seen in Student Loan Blog

The NextStudent Student Loan Blog celebrates its second anniversary this year, and with the recent political changes in Washington continually propelling the student loan industry to the forefront of political debate, its purpose as an excellent watchdog of student loan news and changes in federal student loan policy is more relevant than ever.
Originally created in December 2005 as an additional educational resource for NextStudent customers interested in how legislation and Department of Education developments affect their college loans and financial aid, the blog’s very first post, titled “Start Applying for Financial Aid as early as Jan. 1,” helped kick off NextStudent’s commitment to technology and the role the Web plays in consumer education and real-time information gathering. NextStudent is a Phoenix-based premier education funding company.
Be In-The-Know About Student Loans
The NextStudent
Student Loan Blog reports on student loan industry changes, as well as changes in policy that affect other areas of student life, including early decisions, “College Decides to Nix Early Binding Admissions,” and sports, “College Sports to Be Taxed?” and on student life. On the following days the blog covers the following topics: Monday, “Student Loan News;” Tuesday, “This Week in Student Loans;” Wednesday, “Student Loan Legislation;” Thursday, “Student Loan Advice;” and Friday, “Campus Life.”
The NextStudent Blog references industry periodicals including the National Council of Higher Education Loan Programs’ (NCHELP), Daily Briefing. The financial aid process in the United States can sometimes become a tangle of changing interest rates, applications and deadlines. However, NextStudent’s Student Loan Blog can help students and parents contextualize certain industry practices because it highlights the federal regulation discussions and changes that make the student loan industry so dynamic.
Families Get More with NextStudent
NextStudent’s personalized service extends beyond the Web experience and into the offline experience as well. Every customer who contacts NextStudent is assigned a personal Education Finance Advisor to walk them through the financial aid process from beginning to end and answer any and/or all questions about financial aid.
Additionally, NextStudent got its start promoting higher education and the search for scholarships and holds steadfast to its roots by offering a free
Scholarship Search Engine that houses more than 42,000 college funding sources for over 2.4 million individually awarded scholarships valued at more than $3.4 billion. NextStudent knows the financial aid process begins with the search for “Free Money” and that scholarship programs help millions of students fund their college education dreams.
NextStudent believes that getting an education is the best investment you can make, and it is dedicated to helping you pursue your education dreams by making college funding simple.

Become Your Own College Funding Resource with NextStudent’s Scholarship Search Directory

There is no question that college costs are escalating beyond the ability to pay for even those of modest means without taking out student loans. New proposed student loan legislation is under consideration to lower interest rates but yet has not been enacted. In addition, individual schools from Ivy League universities to community colleges are implementing their own unique policies and programs to help students finance their college education so they avoid further debt.
One simple but often overlooked method for making college more affordable regardless of the institution of choice is for students to become their own college funding resource by locating scholarships for school, according to NextStudent, the leading Phoenix-based education funding company.
Commitment to Research Results in Rewards
Students and their parents who make a commitment to perform exhaustive searches to find the funds they need for school may be surprised at how much FREE money they uncover, even though finding it may take some time. However, the investment may prove to be well worth it, as it will facilitate having to borrow fewer funds for college. A key resource to locate scholarships is NextStudent’s free, online
Scholarship Search Directory.
Ample Resources for Funding College Education
Locating the perfect scholarship portfolio to help finance college is a simple, easy process when using the Scholarship Search Directory. With more than 2.4 million scholarships valued at over $3.4 billion from 42,000 sources, college students have innumerable choices when applying for awards.
Planning Reaps Results
While there certainly is no right or wrong way to go about it, if students search the directory in a systematic, thorough manner they will have a better chance of receiving the scholarships that best fit their needs. Here is a suggested process to follow:
Start by searching for the college of attendance and the year of attendance by clicking on the “College(s)” and “Year of Study” links, respectively.
Next, students may search according to their “State of residency” and then their parents’ “Corporate Employer(s).”
Third, sort through the scholarships by “Academic Major.”
Lastly, students may explore the remaining categories that apply to their particular situation. Examples here include: “Artistic Skill(s)” or “Athletic Skill(s),” “Honor(s),” “Ethnic Background(s)” or “Racial Background(s),” “Military or Veteran Affiliation(s),” “Religious Affiliation(s)” and “Other Affiliation(s).”
Specific Awards for Specific Situations
In addition, there are other individual categories suited for students who have specific needs. These include scholarships for those who fall under such categories as “Impairments” which include chronic medical conditions and other ailments, and even a category called “Unique Situation.” This particular category is one that often is overlooked by scholarship applicants. It includes awards to former students of a particular county school, awards for exchange students, or those with part-time or full-time jobs, and such unique awards for those who have been home-schooled or are Amateur Radio (Ham) Operators.
No matter what circumstances students are in or where their background, interests and talents lie, there are many opportunities for FREE money to be found through NextStudent’s Scholarship Search Directory. By dedicating a generous amount of time to find these awards, students may avoid having to borrow a significant amount of money to fund their college education.
NextStudent believes that getting an education is the best investment you can make, and it is dedicated to helping you pursue your education dreams by making college funding simple. Learn more about
student loans at http://www.nextstudent.com.

Federal Consolidation through NextStudent Simplifies Repayment of Student Loans

This time of year is rife with high school seniors deciding which colleges they will attend the following year. Additionally, many other students are awaiting the approach of July 1, 2007, the date when new rates for existing variable rate student loans may take effect.
NextStudent, a leading Phoenix-based education funding company, recommends that borrowers begin to consider their
student loan consolidation options as early as possible to lock in the best rates and terms. When students with multiple student loans consolidate their student loans with NextStudent, they are simplifying their lives with only a single payment required for their student loan portfolio. By consolidating, it is possible to reduce monthly payments by up to 60 percent and eliminate the hassle of dealing with multiple payments to different lenders. Do Your Homework When Selecting a Consolidation Lender
Many borrowers use their colleges’ recommended lenders, more commonly referred to as the Preferred Lenders List, to select their consolidating lender. Instead, it is wise to check out ALL options, starting with a college’s financial aid office. Ask the financial aid administrator for a list of lenders in addition to the preferred or recommended lender list, and then research each company. In other words, do your homework, and do it well.
Since there are many significant differences with respect to the character, ethics and quality of a lender, borrowers must be selective and carefully choose their lender. They may want to consider and compare the reputation and integrity of the company, level of customer service provided, and the individual student loan consolidation incentives offered.
Students Benefit with NextStudent’s LOCKED Discount
Since the federal government sets the base interest rate on
student loans, the only differences with consolidation loans are the incentives offered by each individual company. NextStudent is committed to providing outstanding customer service and the best incentives in the industry. In its efforts to extend significant savings to borrowers, NextStudent offers a 1 percent LOCKED interest rate reduction after 36 consecutive on-time payments.
Guaranteed for life. NextStudent borrowers retain their 1 percent LOCKED benefit for the life of the loan, while other lenders may revoke their benefits for a single late payment.
Easy to qualify. With NextStudent, borrowers maintain eligibility for the 1 percent LOCKED interest rate reduction even if they go into deferment or forbearance. Other lenders may disqualify borrowers for their benefits under these circumstances.
The following are two of NextStudent’s consolidation benefit packages from which students may choose to fit their particular circumstances and preferences.
NextStudent’s Federal Consolidation Loan Benefit Packages:
Package #1
.25 percent interest rate discount for Auto-Debit payments
1 percent LOCKED RATE reduction after 36 on-time payments
Package #2
.25 percent interest rate discount for Auto-Debit payments
2 percent interest rate discount after 36 on-time payments (not locked)
Qualifying over the phone takes just a few minutes with the assistance of a borrower’s personally assigned Education Finance Advisor, who is there to answer any questions and guide the student through the entire
student loan consolidation process.
NextStudent believes that getting an education is the best investment you can make, and it is dedicated to helping you pursue your education dreams by making college funding simple. Learn more about Student Loans at
http://www.nextstudent.com/.

Private Consolidation Loan Just Released by NextStudent

Selecting the best means of financing a college education sometimes can be a challenging experience. Many borrowers do not realize that the combination of personal savings and federal funds often does not cover all college expenses, according to NextStudent, a leading Phoenix-based education funding company. Fortunately, private consolidation loans such as the new offering by NextStudent are an excellent low-cost option for covering the funding gap and repaying student debt.
While there are many such solutions available to students and their parents, it is important that borrowers carefully compare the options available to them and select the private consolidation loan that best fits their needs. NextStudent offers an excellent product that enables students to accomplish their dreams of an education while taking advantage of rates comparable to federal
student loan consolidation, as low as 6.33% APR for the first year only.
For example, a typical loan of $40,000, where the borrower has chosen to make payments of principal and interest, with an interest rate of 6.705% APR, subject to change every calendar quarter, and with a loan term of 30 years, will have a payment of $258.25 (subject to change if the interest rate changes).
Caters to Financial Needs of Borrowers
Additionally, borrowers may qualify to receive NextStudent’s Private Consolidation Loan benefits, which can enable them to attain financial stability immediately out of college. Benefits of the credit-based loan may include: interest-only repayment terms for the first two years, up to 30 years to repay, a reduction in the principal balance of up to 1.5 percent after 48 consecutive on-time payments, a .25 percent interest rate reduction when paying via auto-debit, and no or low origination fees.
College students and their parents may consolidate as little as $7,500 or as much as $300,000 and may receive approval in as little as a few minutes over the phone. There are no prepayment penalties, although many students may opt for in-school deferment or choose to defer payments for up to 12 months following graduation. Borrowers who shortly will begin repayment of their
student loans and those who are not in default as well as those with good credit may qualify.
Easy, Convenient Application Process
Applying is fast and convenient. Borrowers may submit their application over the phone and receive a “real-time” loan decision in just a few minutes from their personally assigned Education Finance Advisor, and they may review the status of their loan’s progress at any time online.
Student loan consolidation is simply a smart move to help students and their parents organize their finances and position themselves for success. The
NextStudent Private Consolidation Loan is one of the most competitive products on the market, with many outstanding features and incentives. Students or parents will receive a personally assigned Education Finance Advisor who will walk them through the entire process from start to finish and answer any questions they may have. This service offers an unprecedented opportunity for those who desire to make their education dreams a reality, in a simple, easy-to-manage fashion.
NextStudent believes that getting an education is the best investment you can make, and it is dedicated to helping you pursue your education dreams by making college funding simple. Learn more about Student Loans at
http://www.nextstudent.com/.

Parent Loans for Undergraduate Students are a Smart Financial Strategy

So, your child was accepted to the college of her dreams, and now it’s time to start looking for strategies to help fund that college education. NextStudent, a leading Phoenix-based education funding company, recommends Parent Loans for Undergraduate Students, or the PLUS Loan. This loan is federally backed.It allows parents to borrow up to the entire cost of their child’s education (less any federal aid), including books, supplies, and even a computer for the child to use when attending college at least half-time.
The PLUS Loan is not based on financial need or income, so parents cannot be turned down for making too little or too much money. However, parents and students must fill out the Free Application for Federal Student Aid (FAFSA) to be eligible, and can be turned down for an adverse credit history. After receiving the Student Aid Report (this is the result of the FAFSA) from the government, parents can apply for this PLUS loan. NextStudent offers a simple application process with E-Signature.
PLUS Loans Available Even after Tuition is Paid
Another important aspect of the Federal PLUS Loan is that it is available even if the parent already has paid tuition and most other education expenses. As with all federally backed
student loans, the maximum interest rates on PLUS Loans are set by the federal government. However, NextStudent offers aggressive benefits on PLUS Loans that parents can earn to help save them money.
Benefits that borrowers can earn by funding their
PLUS Loans through NextStudent include the following: a 3 percent cash rebate on the remaining principal balance of their loan after the first 12-months of consecutive on-time payments, a 2 percent interest rate reduction after the first 48 months of consecutive on-time payments, and a .25 percent interest rate reduction for electing to use auto-debit.
NextStudent Also Offers the Graduate PLUS Loan
The
Graduate PLUS Loan for graduate and professional students is very similar to the traditional PLUS Loan. However, it allows those students, and not their parents, to borrow up to the entire cost of their postsecondary education (less any federal aid), including books, supplies and other educational costs.
NextStudent’s Graduate PLUS Loan Program for graduate and professional students also offers competitive benefits that can be earned by borrowers. Again, it is a federally backed student loan, and the maximum interest rate is set by the government.However, NextStudent’s Graduate PLUS Loan offers student borrowers the additional incentive of post-graduation loan repayment.
PLUS Loans for parents and graduate students are smart financial strategies that help cover the costs of a college education and offer financial flexibility. There are several repayment options, including deferred repayment while the student is enrolled in school at least half-time (Graduate PLUS only) and federal
student loan consolidation eligibility.
NextStudent believes that getting an education is the best investment you can make, and it is dedicated to helping you pursue your education dreams by making college funding simple. Learn more about student loans at
http://www.nextstudent.com/.