Comments for Loans Resources

Comment on Who provides loans to people with bad credit and not a payday loan? by Brad

Brad — Mon, 15 Mar 2010 21:47:32 +0000

credit-report-free.totalh.com – try this service to boost you credit score before getting loan. After credit repair you can get the loan with minimal interest rate.

Comment on With the recession hitting hard in the UK, will students loans be available for students? by Victor

Victor — Mon, 15 Mar 2010 16:00:59 +0000

careers.scienceontheweb.net – it provides some tips about applying to US federal and state grants for college students.

Comment on After a claim is paid by a mortgage lender's MI, can the MI collect from the borrower? by real estate guy

real estate guy — Sun, 14 Mar 2010 01:47:55 +0000

The MI company has EVERY RIGHT to seek collection. They should and they will. PMI/MI doesn’t protect you, it protects the lender from borrower like you.

You can’t just walk away.

Comment on In the Army If you don't get paid crap why even join you can save money for college from a regular job.? by redleg

redleg — Sat, 13 Mar 2010 15:00:51 +0000

A regular job doesn’t provide a paycheck…AND provide food, housing, medical/dental, skills training and experience and the GI Bill and tuition assistance for college..as well as a host of educational benefits such as FREE CLEPs and testing..

I have 21 years in the Army..in that time I have earned a Bachelors and two Masters all paid for by Uncle Sam…

Comment on I NEED MONEY FOR COLLEGE HOW DO I GET IT OTHER THAN SCHOLARSHIPS ? by I had a dream

I had a dream — Fri, 12 Mar 2010 19:16:48 +0000

I hope you get your loan but nowadays it will be tough! I am having lots of problems finding something myself, take care!

Comment on Anyone advice for someone who really needs a grant or loan for college? by laneydoll

laneydoll — Fri, 12 Mar 2010 02:36:47 +0000

fastweb.com Free to use if you don’t mind the ads. I paid for college this way and the following…
Apply for government financial aid. If you are on your own it is pretty easy to get money.
Finally, go to the financial aid office at the school (if possible) there will probably be a lot of signs etc about scholarships.
Good luck.

Oh, let me add this, if you can talk to anyone in the financial aid office, they are a wealth of knowledge.
I was 25 when I went back. I had my tuition, fees, & books paid plus made about $2000 a year with the extra money. But, if you do end up with extra, make sure you don’t have to repay it before you spend it. The scholarships I got just cut a check for the amount & the school refunded to me what I did not use. This was AFTER my gov’t financial aid paid for a lot!!!!
It may seem like a lot of work but it is worth it.

Comment on Why don't Free Market Principles work when creditors give out loans for students and payday loans? by No Chance Without Ceiling Cat

No Chance Without Ceiling Cat — Thu, 11 Mar 2010 09:50:06 +0000

1, Because there’s no such thing as a rational market.
2,Payday loans are generally sought by people with a poor credit history who would be turned down by major lenders. They therefore have no option but pay the exorbitant interest, which covers the lender’s risk.
3, People are also swayed by sales pitches (the notorious SAPNAP system – sell a payment not a price), familiarity and ease of use. The example of the latter two is store credit cards. They are familiar and convenient.

Student loans here in NZ are extended and managed by the government at an extremely low interest rate. Repayments only become necessary if the student earns above a certain threshold or that student leaves the country to work overseas (what we call the brain drain.) I can’t comment on the US system.

The other major factor is "what does lending your money cost you?" If you could get a better return by investing in 90 day bills or property why would anybody lend at 1%?

Comment on How can I get money for college and fast? by Hello

Hello — Wed, 10 Mar 2010 11:25:05 +0000

A few years back I bought a kit at walmart that came with a candy mold and some sticks to make homemade suckers. With an additional purchace of chocolate (they sell it in big blocks for about $3) and store brand rice crispies (I only added this to about half of my suckers for variaty) I was able to start a small summer long business. You may also need plastic wrap and ribben to seal the suckers. You can buy the sticks and chocolate and the mold all seperate. The kit was kind of expencive. Any ways I just walked around to all the business down town asking if they would like to buy a chocolate sucker for $1. If you tell them why you need or want the money sometimes the will give you a tip or they will give you the dollar and not want the sucker. At $1 a piece I made a nice profit! Hope this helps and good luck on your business venture.

Comment on My mother left money for her grandkids for college; I put it in CD's. How can I avoid taxes on it? by Robin D

Robin D — Sun, 07 Mar 2010 15:00:16 +0000

GREAT Question! There are some excellent programs to deposit the funds into while avoiding or reducing tax liability. A Coverdell Education Savings Account, a 529 College Savings Plan/Qualified Tuition Program, or Education Savings Bond Program. See Publication 970 from the IRS.

http://www.irs.gov/pub/irs-pdf/p970.pdf

I don’t recommend calling the IRS for information. They aren’t in the business of giving tax advice. And unfortunately, their call line has a less than stellar track record for accuracy. It may be worth your money to pay for a consultation with a good financial planner or tax accountant to discuss the various educational plans available.

Condolences on the loss of your mother.

Comment on Can i get student loans before school actually starts? by OregonChickFan

OregonChickFan — Sun, 07 Mar 2010 03:01:39 +0000

Your student loan won’t be disbursed until just before school starts. I got my laptop last fall, about a month before school started. After I received the excess amount from the loan, I paid off the credit card that I used to buy the laptop with. I also put any excess from my loans into a separate account. It’s to be used for school expenses and loan repayment only.