Personal and Business Loans

photo credit: Vincent Boiteau

A common question asked by people looking for student debt help is “Should I pay off my credit cards or my student loans first?”

This is a tricky question, and the answer depends upon a number of factors, including;

* The rate of APR on your credit card and your student debt

* The repayment terms

So lets look at a typical student debt help example. Let’s say your credit card debt costs you 7.9% APR, while your student loan costs perhaps 3% APR. (more…)

photo credit: karpov the wrecked train

You graduated and now your student loan is due. The job hasn’t come through yet, or you are just in over your head. What can you do about that student loan?

Before you enter the default stage, relax and review your options. Realize that you aren’t alone. Unfortunately, since so many former students default on their loans each year, the Department of Education has a well-oiled process of collecting payments from those who default.

If you just stop paying, or never begin making payments when they are due, you can expect the Department of Education to take action to collect your student loan. There are several drawbacks to procrastinating. First, they will add substantial collection fees to your outstanding balance. You owe enough already, but they are going to want extra to track you down and force you to pay. (more…)

photo credit: Vincent Boiteau

How many of you are biting your nails trying to figure out what you should do to get your college paid for? You know you need a loan… but what kind? What are the differences? Would it be a good idea to refinance or consolidate any loans you already have? Is this the right time? How much do you really need? What do college loans cover? If you’re wondering about these things, please read on.

Before you run out and get a college loan, you first need to know how much of a loan you are going to need. Of course, the obvious part of the loan is your tuition and the cost of your courses. But there are many other things that you may need to have covered through your college loan. (more…)