student loan

An education loan is a form of financial aid that must be repaid, with interest. (Scholarships, on the other hand, do not have to be repaid.)

Education loans come in three major categories: student loans (e.g., Stafford and Perkins loans), parent loans (e.g., PLUS loans) and private student loans (also called alternative student loans). A fourth type of education loan, the consolidation loan, allows the borrower to lump all of their loans into one loan for simplified payment. A recent innovation is peer-to-peer education loans.

Federal law sets the maximum interest rates and fees that lenders may charge for federally-guaranteed loans. Nothing prevents a lender from charging lower fees. Many lenders offer a variety of student loan discounts to attract borrowers.

Few students can afford to pay for college without some form of education financing. Two-thirds (65.7%) of 4-year undergraduate students graduate with some debt, and the average student loan debt among graduating seniors is $19,237 (excluding PLUS Loans but including Stafford, Perkins, state, college and private loans), according to the 2003-2004 National Postsecondary Student Aid Study (NPSAS). (The median is $17,120. One quarter of undergraduate students borrow $24,936 or more, and one tenth borrow $35,213 or more.) For federal student loan debt (excluding PLUS Loans), the figures are 62.2% and $17,036. Average cumulative debt increases by about 3% or approximately $550 a year. When one includes PLUS loans in the total, the average cumulative debt incurred is $21,899. (Approximately one in ten (10.8%) parents borrow PLUS loans for their children's college education, with a cumulative PLUS loan debt of $16,317.)

The following table shows the percentage of students borrowing and average cumulative debt per borrower (excluding PLUS Loans) according to type of educational institution.

	Undergraduate Education Debt
Institution Level & Control	Percent Borrowing	Cumulative Debt
Overall Total (4, 2 and <>	55.5%	$15,766
4-year Total	65.6%	$19,202
4-year Public	61.7%	$17,277
4-year Private Non-Profit	72.8%	$21,957
4-year Private For-Profit	87.3%	$28,138
2-year Total	37.4%	$9,897
2-year Public	33.2%	$9,387
2-year Private Non-Profit	69.1%	$12,326
2-year Private For-Profit	90.0%	$12,107
<>	67.1%	$7,271
<>	34.0%	$7,243
<>	26.5%	$4,854
<>	77.3%	$7,311

Graduate and professional students borrow even more, with the additional debt for a graduate degree ranging from $27,000 to $114,000. The following table shows the percentage borrowing and average amount of cumulative debt per borrower among graduating students according to degree program. It provides the amounts borrowed for just the graduate education and also the combined totals for undergraduate and graduate education.

	Graduate Education Debt		All Education Debt (Grad & Undergrad)
Graduate & Professional Degree Programs	Percent Borrowing	Cumulative Debt	Percent Borrowing	Cumulative Debt
Total	60.1%	$37,067	70.1%	$42,406
Master's Degree	58.4%	$26,895	69.3%	$32,858
Doctoral Degree	51.0%	$49,007	58.3%	$53,405
Professional Degree	86.5%	$82,688	88.4%	$93,134
MBA	53.0%	$35,525	63.6%	$41,687
MSW	76.5%	$27,136	81.0%	$37,029
PhD	40.0%	$36,917	46.8%	$41,540
EdD	53.4%	$49,050	65.7%	$47,725
Law (LLB or JD)	87.7%	$70,933	89.7%	$80,754
Medicine	95.0%	$113,661	95.0%	$125,819

Grants, scholarships, work-study and other forms of gift aid just do not cover the full cost of a college education. Many students find that they must supplement their savings with government and private loans. The Federal education loan programs offer lower interest rates and more flexible repayment plans than most consumer loans, making them an attractive way to finance your education. You can also deduct up to $2,500 in student loan interest even if you don't itemize deductions on your income tax return.

The interest rate on the Stafford Loan for new loans first disbursed on or after July 1, 2006 is a fixed rate of 6.8%. The same rate applies to the in-school, grace and repayment periods. (A lower interest rate is available on subsidized Stafford loans for undergraduate students for loans first disbursed on or after July 1, 2008 through June 30, 2012. The rate in 2008-09 is 6.0%, then 5.6% in 2009-10, then 4.5% in 2010-11 and 3.4% in 2011-12 and returning to 6.8% for new loans in 2012-13 onward.) The interest rate on new PLUS Loans first disbursed after July 1, 2006 is a fixed rate of 8.5% in the FFEL program and 7.9% in the Direct Loan program. The interest rates on existing variable rate Stafford and PLUS loans will continue to change annually on July 1, based on the last 91-day T-bill auction in May. The current interest rates on the Stafford Loan are 3.61% during the in-school and grace periods and 4.21% during the repayment period. The current interest rate on the PLUS Loan is 5.01%. FinAid recommends that students who have not yet consolidated their variable rate loans consolidate them now to lock in the current low rates. Interest rates are expected to start increasing again in 2009-10. Borrowers may be concerned by the possible impact of the subprime credit crisis on the cost and availability of federal and private student loans. Federal loans will remain available, although loan discounts will likely be reduced significantly. A higher minimum balance may be required to consolidate. Private student loans will likely have stricter eligibility restrictions, requiring a higher credit score or a cosigner. There may be increases in the interest rates and fees on private student loans. Lenders will encourage borrowers to make payments of interest while they are in school.

Many student loan providers offer low cost government and private loans with consistently high quality servicing and flexible repayment terms. Citi Student Loans is one of these lenders. FinAid maintains a list of education lenders, guarantee agencies, servicers and secondary markets who offer federal and private student loans, as well as advice on preferred lender lists and choosing a lender and tips on identifying the lenders that currently hold or service your loans.

Loan forgiveness programs (in which the borrower's loans are paid off in exchange for volunteer work, public service or military service) offer an option for easy repayment. If you are having difficulty repaying your education loans, see Defaulting on Student Loans before you decide to skip a payment. It offers you some alternatives. Loan Cancellation and Discharge Forms can be found on the US Department of Education web site.

Also, FinAid provides numerous calculators that can help you better understand your borrowing options. The loan calculators offer estimates of monthly loan payments, estimates of the amount of debt you can afford to repay, an analysis of the cost of capitalizing the interest and tools for comparing loan costs.

Use FinAid's Student Loan Checklist to keep track of your student loans.

Some students, because they do not have prior experience with debt and loan amortization, do not appreciate how much their loans will cost them. FinAid provides some tips concerning calculating the cost of interest.

A fair deal for your Business!

Have you taken a moment to consider whether the current banking arrangements for your business offer the best value? Have you ever felt that maybe your charges may be too high or that the interest charged on your loans or overdrafts may not be competitive?

It is a well publicised fact that it takes the average business at least 14 hours of shopping for the best deals if they intend to switch bank. Charges are often complex and confusing and many business owners simply cannot spare the time.

Rainbow offers an independent service that aims to review your existing commercial banking position and offer a comparison with other banks. Rainbow will act on your behalf to broker a better deal for you and your business with the aim of reducing a frequently overlooked cost.

Alternatively, if you would like to call us direct, please feel free to contact us on 0845 8686507 to speak to one of our consultants.

With a wide range of life insurers we get the best quotes for you!

At Rainbow, we work with most of the top life insurers in the country to not only find you the best quote but also the most comprehensive policy.

Its time to stop worrying and start enjoying life. We have insurance products from a range of insurers to give you some of the best competative quotes

Life Insurance

There are few certainties in life, one such certainty is the fact that sooner or later we all die. Understandably, a lot of people do not like to think about this subject. Normally, people only think about the consequences of death after it has happened, at which time it is too late.

To avoid your loved ones being financially unprepared for death it is wise to consider what would happen, if yourself died? or if you suffered a serious illness?

You need to ask yourself the following questions:

• Are you the main earner in the household?
• Who will be affected?
• What impact will it have on you and your loved ones?
• What would you want to happen?

Once you have answered these questions you will, more than likely, be concerned that you need to arrage to have some form of financial protection in place to protect yourself and your family.

Car Loans

Our excellent car loan and finance products means whatever your credit history we like to try and say...Yes.*

Rainbow provide Car loans for all different types of people. You may have an excellent credit rating or may have had previous financial problems. DO NOT worry we are here to provide loans from the top lenders in the UK market place.

Our team will search through hundreds of loan options from personal loans to hire purchase loans. Be rest assured that no one try’s harder to get you that car loan.

Over the years we have helped people who had previously had there loan applications turned down. We have also got people some of the lowest APR rates out there.

At Rainbow we pride ourselves on trying to source all the different types of people. So if you need that Low rate Loan or been declined before then you need look no where else!

• You have been turned down by another lender
• You are looking for a low rate.
• You have CCJ's, Defaults or Arrears.
• You have little or no credit history.

We can also finance people with licences from the European Economic Area (EEA). Here is a full list of European Licences we can now accept.

Borrow between £1,000 to £100,000 with payments spread up to 5 years at competitive rates. So for a low rate car loan, simply complete the quick loan application and Rainbow will do the searching for you Low Rate Car Loans.

Personal loan

Get the Personal loan you need Quick and Easy! Rainbow Personal Loans search over 200 loans plans from many Lenders to find the best loan that sorts your circumstances.

Personal loans can be for refinancing your credit, buying a Car, booking a holiday or even that dream home extension.

Whether your past history is excellent or tainted. You have adverse credit, mortgage arrears, CCJ’s or even no proof of income. Rainbow has the experience and knowledge to find you that personal loan. Whether you require £5000 or £250,000 we have the companies and loan plans for you.

Don’t worry if you have been unsuccessful in the past, our quick and easy application form will put all the work in our hands leaving you to relax and plan ahead.

Want to Become Credit Card Savvy? Just Follow Five Simple Steps

Credit cards are a necessity in today's world. The good thing about credit cards is that they let you make purchases, when cash isn't an option. The not-so-good thing: They tempt you to impulsively charge items you don't really need. Keep in mind that every time you use credit cards, you're borrowing money. So think of credit-card debt as a high-interest loan, and consider these five smart ways to use credit cards.Shop Around
Shop around. With hundreds of credit cards to choose from, it's smart to shop for the best deal--a card with no annual fee and a low APR (annual percentage rate)--advises a financial consultant of a credit repair company in New York, often dramatically, particularly if you make one late payment.

If you plan to pay your bill for credit cards in full each month, look for a low annual fee and a long grace period--the time between the statement date and the payment-due date in which you'll avoid finance charges. If you plan to carry a balance, go for the lowest interest rate. Also look for a low rate on cash advances.

There are a lot of credit cards that offer great rewards and benefits. Usually there are some annual fees attached to credit cards that have great rewards. However, these rewards may outweigh the annual fee significantly so you will still save even though there is an annual fee attached to that credit card. Some credit cards offer great rewards and no annual fees. I have picked several great credit cards with no annual fees that offer excellent rewards and high credit limits. You should pick a card with reward that you think will be most appropriate for you, so you can save. If you pay your balance in full each month then the APR interest rates will not apply to you, so you should ignore it. The most beneficial credit card will be the one that has rewards and no annual fees. Also, look for a credit limit when applying for a no annual fee credit card. Annual fees are usually low; they range from $20 to $100, so a credit card that has great rewards and has an annual fee may be more valuable to you then a credit card with no rewards at all and no annual fee.

Improve Your Credit Record
A credit report is a snapshot of your debt-paying activity; your credit (FICO) score--a number from 350 to 850--predicts whether you're a good credit risk (above 620 is considered respectable). The higher your score, the better your chances of getting a low interest rate on credit cards, car loan or mortgage. Charging near the limit or maxing out credit cards can lower your score, Martin says. Get a copy of your credit report at least yearly from the three major credit bureaus (Equifax, Experian, Transunion). You should challenge if there is any error. Under a new law, by September 2005 all consumers will be able to get a free credit report.

Restrict The Number Of Cards
A wallet filled with credit cards (which represent money you owe or can borrow) may work against you, when you apply for a loan or mortgage. Two or three credit cards are enough, Martin says. If your credit report indicates you already owe or can access a great deal of money, potential creditors may determine that added debt could strain your ability to repay.

Switch Balances Cautiously
If you transfer your high-interest balances to a low-interest credit card, be aware that the low rate may last for only a limited time, and that many credit card companies assess transaction fees, sometimes up to 4% of the amount transferred. Avoid credit cards that charge hefty fees, which may outweigh any savings offered by a lower interest rate. Scrutinize the application or call a company representative and ask about all charges before signing up. Once you transfer the debt, stop using the old card.

Avoid Credit Pitfalls
Despite the benefits of using credit cards, there are pitfalls that accompany. It can be costly, with some interest rates higher than 25% and whopping annual fees, finance charges and penalties that can jack up the purchase price. And you risk spending more than you can pay. Calculate how much you can afford to charge each month and then put your receipts in an envelope and keep a running total on the outside. Once you reach your limit, put away the plastic.

Types of Debt Consolidation Programs for People with Bad Credit

If you are in debt and each month you find yourself farther and farther behind on your payments, you may feel as if there is no way out. Luckily there are many companies out there who can help you get out of debt now and teach you how to stay out of debt in the future. The most common way to get relief from your mounting credit card debts and loans is to use a debt consolidation service.

Most credit counseling services can help you consolidate your debt into one monthly payment. You will no longer have to worry about forgetting a payment, and falling further into debt, when all of your debts are rolled into one easy payment. On top of this, most credit counseling services are able to work with your creditors to make sure that you are paying the lowest possible monthly payments and often times your debt consolidation loan will have a lower interest rate than your high interest credit cards.

The most common way to consolidate your debt is to take out a home equity loan. By utilizing the money you have already paid towards your home, you can pay off high interest credit card debts before you get charged more late payment fees and over the limit fees. Home equity loans are usually much lower interest then credit card interest, or auto loan interest. The key to getting a great rate on your home equity loan, and achieve your first step towards debt consolidation, is to be proactive. The better your credit the easier, it will be to get a home equity loan and you'll get a better interest rate, too.

Unfortunately many people don't realize they are in trouble with debt until they already have bad credit. Others who have bad credit and mounting debts don't have a home or don't have enough equity in their home to pay off all of their debt. Even if you find yourself in one of these categories, you can still get relief from your debt. In many cases even non-homers with bad credit still qualify for unsecured debt consolidation loans. These unsecured loans will not have terms that are as favorable as a secured debt consolidation loan, like a home equity loan, but they may be the thing you need to get relief from your mounting credit card crisis.

As with many debt relief options, the key to getting out of debt quickly and easily is to find a great credit management company to help you do it. There are, unfortunately, many less than legitimate companies out there that prey on people with bad credit. You should never feel as though your credit situation has left you with no options to get relief. Even people with bad credit can be helped by a reputable credit counseling company.

Looking For Fast Cash? Get Quick Loans With Paycheck Loans

Everyone has emergencies pop up in their life sometimes. These unplanned events can be costly and potentially crippling if you don't have enough money put aside to remedy them. If your car suddenly breaks down and you have no way to get to work, you can't simply wait until payday rolls around to get the repairs done. When you find yourself short of cash and in high need, there are several types of cash advance services that can help get you out of trouble with some fast cash.

Most types of cash advance services are quick loans based on paycheck loans. You provide the cash advance service with a bank statement and pay stubs. They calculate how much money your next paycheck should be for and they simply advance you that money early. These are very short term loans that are meant to be paid off within a few pay periods.

The downside of these payday loans is that your fast cash usually comes at a big price. These types of cash advance services and payday loan establishments normallycharge a fairly high fee for taking on the loan and they charge an interest rate that is many, many times what a traditional bank or lender would charge. You may wonder then why so many people use these types of cash advance services. The single biggest reason is probably their speed. Usually within less than a days time you can apply for the loan and be granted the money you need. In an emergency you don't have time to go through the much slower loan process seen at a traditional bank. Another reason why they are so popular is because most banks have restrictions on the minimum amount of money you can borrow. It simply isn't profitable enough for the bank to loan you a couple hundred dollars on a car repair when you compare that to the money they make off of a house that costs several hundreds of thousands of dollars.
More so than that, these types of payday advance services are willing to loan money to high risk, poor credit, clients that a traditional bank would see as being to big of a risk to lend money to. Part of the reason why people pay such a high interest rate at payday loan places is because of how shaky their credit history is. The high initial fee helps offset the businesses loses if you do not repay the loan.
Because of these reasons, you should only take out a fast cash payday loan when you are really in desperate need of the money. Ultimately, whatever you take the loan out for costs you many times the initial vast of the loan due to the high interest rates.

Personal Loans Are The Source Of Instant Cash During An Emergency

A wide variety of personal loans come with different rates of interests. Zeroing in on specific personal loans with a suitable rate of interest is a mammoth task and requires a planned approach. With a huge risk factor being a part of personal loans, it's always advisable to look up for alternative options to get loans. If you are fortunate enough to have a rich relative who can be your sponsor, you're lucky! The other options like home equity, credit cards, and 401(k) loan are any day better than going in for personal loans. But if you are left with absolutely no choice or want to stick to personal loans as your cash source, you better consider these tips before you borrow personal loans.
- Point number one is to get the facts straight. Do not take up personal loans without weighing the pros and cons. One way to do this is to go to online financial websites and compare the interest rates on various loans. Alternatively, you can also call the local banks in your area to learn the interest rates they offer on personal loans. This could give you a fair idea of the value of personal loans you'd be opting for.
- Don't forget to inquire about the rate cap and if the interest rate is fixed or variable. Also get some information on the annual fees.

But if you are a member of any credit union, the above-mentioned tips on personal loans are not for you. In this case, you are at an advantage. That's because credit unions offer interest rates that are 1%-2% lower than any multinational banks.

If you are regular customer of a community bank, you may even enjoy low interest rates on personal loans. Just make sure that you furnish true information to the bank to procure the loan. You might just get lucky to get a loan with fantastic interest rate. Also, don't be in haste to apply for personal loans in many banks. This could be more of a disadvantage to your prospects of getting personal loans. This has a direct bearing on your credit score. Any hasty move on your part to get personal loans could make your credit score go for a nose-dive.

So, what does this teach you? Start making sincere efforts to bring down the interest rates on personal loans by improving your credit history. If you blindly follow your bank's criteria for personal loans, your brand loyalty could cost you dear. A survey done by Intelligence Finance just goes to prove this fact. Coming back to the personal loans with low interest rates, Egg clearly states that some of these could be mere traps to fool the common man. There is only a very small fraction of borrowers who get all the benefits that are stated while taking the personal loans.

While each type of personal loans has its own plus points, the unsecured type outshines the rest. A major benefit with personal loans is the least time required for its processing. That's because it requires only the application form and your credit score for processing. You may get an answer from the bank within three business days of applying for the loan.

But always remember that personal loans should be the last option when you need money to make any purchase. It's always a better idea to postpone the purchase until you've saved enough money to make the purchase. Layaway or other modes of payment could be a better bet than applying for personal loans. So, plan out your requirements and then you can take an informed decision on borrowing personal loans.

The bottom lone is, while personal loans give you ample financial freedom to make any type of purchase, any wrong move on your part could spell disaster. Study the terms and conditions of the personal loans before you commit yourself to the financial institutions.

Student Loans: A Debt That Can Haunt You

Student loans are one of the few types of credit that can haunt you almost forever. When it comes to taking out credit cards and loans, there are rules that all lenders must abide by, but many of these "normal" rules do NOT apply to student loan lenders. With most lenders they cannot legally sue you or take control of your assets (bank account, lien, etc) once the debt is past your state's statute of limitations (SOL). For some states this is as short as 3 years after the debt's date of first delinquency (the last "30+ days late" before the debt was charged off or sent to collections) and for others it can be as long as 15 years. Additionally, creditors are also not supposed to report the account on your credit report longer than 7 years after the debt's date of first delinquency. Now, the SOL on your debt will depend on your state's laws, but the 7 year reporting period is the same for everyone. With student loans, these protections are slim to none.
When to comes to student loans, you can be legally sued for the debt until it is paid. As a matter of fact, most of the time an actual court date and appearance are not even necessary. It is now more easy then ever for a student loan lender to gain access to your bank account without even notifying you first. Another possibility, and probably even more popular than grabbing funds from a bank account, is to have your paycheck garnished. This would happen in much the same way as it would for a child support debt or any other 'special debt'. This can be a surprising event when it happens, and can put you in a hard position when it comes to paying your other bills -- especially if you normally have little to no money left over after your usual bills are paid.

The best thing to do is to keep up on any student loans that you have. Student loans are structured to help the debtor out as much as possible. This is one reason why the laws are lenient when it comes to collecting these debts. First off, many lenders will only require you to pay $50 or so per month, especially if it is back by the Department of Education. Secondly, you can file for deferment if your situation qualifies for one. If you are now back in school, you can qualify for a deferment. If you are on public assistance, you can qualify for a deferment. You can check with your lender for a full list of deferment options that are available to you.

Lastly, if you are already in collections for your student loans, you may be able to 'rehab' them. This is a privilege that you have to specifically inquire about. No one will offer it to you and if you pay without looking into this option, you may be punished for it via your credit report. This is because, if you do rehab, the collection listing on your credit report will be removed once rehab is complete. If you pay without going through rehab, the collection listing will stay on your report for 7 years. Even if you cannot defer or rehab, taking care of your student loan debt as soon as possible is the best choice for any debtor.

Auto Loans

Auto loans dealers frequently make announcements of zero percent auto financing and buyers eagerly make a grab for the great deal. It means a $20,000 vehicle can fetch you savings in thousands versus five-year auto loans with interest. However 0% car financing isn't available for all. By making an offer of letting you drive away a new car with zero percent financing is an ideal ploy for the dealer to lure you to his lot. There are many people who have the misconception that they could afford an even more expensive car with no cost auto loans as there will be no interest to be paid. Unfortunately this happens very rarely.
You may have noticed that in the commercials for zero percent car financing on television, the print is so tiny that you require a magnifying glass to be able to read. The fine print lays down so many conditions of eligibility that eventually there are very few who can actually get a great deal with the dealers. Finally you may be likely to realize that auto loans with an interest rate offer better deals.

Zero percent financing excludes more people than it includes. It takes credit report into consideration to qualify for these auto loans financing and the guidelines for credit are extremely demanding too. You require perfect credit to be eligible for these deals and the average borrower is likely to have at least one imperfection in his credit report. That's all it takes to mar one's chances of availing zero percent financing. However by this time you will be acquainted with the interest rate of the dealership making you feel like you already own the car. This is to the dealer's advantage as he bases your interest into improving his bottom line.

Another thing about zero percent auto loans is that dealers generally have the offer only on some select vehicles. Nine times out of ten it will be the slow vehicles that come with this deal. In other words it is the dealer's attempt to get rid of vehicles. If you actually want a slow moving vehicle, it makes a great deal. However for most the car of their dreams is not in the least bit likely to be covered by the zero percent auto loans financing.

There is also the likelihood that only the cars in the lot will be offered. Despite being interested in a vehicle that is covered by the best financing auto loans offer, the color or seats of leather may not be what you desire. Then the dealer will be only too happy to offer to provide you a vehicle with all your preferences but this will mean that the interest free auto loans no longer cover it.

Generally, you will also only be offered the cars on the lot. Even if you are interested in the vehicle with the best financing auto loans options, you may want a different color or changed accessories. The dealer will gladly find a vehicle for you with all of the options your heart desires but your interest free auto loans will no longer come with it. Interest free auto loans offers are also frequently of a much shorter duration than the typical auto loans. They usually don't exceed 36 months when most people prefer to finance a new vehicle for 48 to 72 months. Due to this the payment on auto loans will work out to be much higher even if no interest is charged. Thus there will be a substantial increase in monthly payment with zero percent cars financing as opposed to conventional auto loans. Most borrowers are likely to feel that it's better to pay interest in order to keep the payment reasonable.
Therefore the next time your attention is on zero percent car financing, don't assume that it might be the best deal available. Instead check out other car financing options and think realistically about your chances of qualifying. After all it is the informed buyers who are always the best buyers.

Unsecured Loans

Unsecured loans can be used for many purpose, debt consolidation or home improvements, buying a new car or a caravan for your leisure time. Your loan can be taken over any term to suit your needs. As the loan you take out is unsecured no security is required by the lender. Unsecured loans are available for homeowners, tenants or even if you are still living at home with your parents. We aim to find the unsecured loan and the amount you require today. Just take a few moments to complete our short enquiry form and apply for your unsecured loan today and let us help you to find the loan amount you require. Adverse credit or loan purpose is not normally a problem.

Secured Homeowner Loans

When it comes to finance in the UK there are many loan options and one of these is the secured homeowner loan our brokers will search the market for you whether it be for a secured loan or an unsecured loan.

There are a number of benefits available to those that take out a secured loan and it can be an affordable option with lower payments and a longer term available than when compared to an unsecured loan. Our prime interest is to understand your needs and to get you the loan quotes you'll find most suitable. If you are a homeowner, we have secured loans available for you online. Our loan approval process is fast and custom-designed for the borrower.

Secured loans are the most convenient loans for the homeowners in the UK . You can use your home equity to get access to large amount of cash to meet your needs. The loans will have a much lower rate of interest, a much flexible repayment period and thus lower monthly instalments.

Mortgage Loans

A lot of people feel that a Loan and a Mortgage are two different things altogether. What needs to be understood is that fact that every mortgage is a loan but not every loan is a mortgage. And yes, there is definitely no need to be scared of a mortgage, especially when you are confident that you will pay it back on time.

There’s a lot more about mortgage which might not be clear to people. Let us start by clarifying what exactly is a Mortgage? Mortgage is simply a type of loan allowing a borrower to borrow money from a lender. However, the reason why it is different from the other types of loan is because in a mortgage loan, the borrower needs to pledge a property like a car or a house as collateral to the lender till the time the full loan payment has been paid back.

The word mortgage meaning the “death pledge” according to the French Law does not exactly mean a “death vow”, but it is just a hypothetical similarity between the two which is pointed out. This can be said because a borrower hypothetically puts at stake, something very precious or valuable, to acquire such a loan. Mostly, such kind of mortgage loans carry high loan amount limit and can be taken up to be repaid at a stretch of longer loan period like 15 to 30 years.

Other than property or real estate, a mortgage or collateral can be pledged to the lender in various other forms like a vehicle, jewelry, financial bonds or any other thing that holds high value for both, the borrower as well as the lender.

But in most cases, mortgage loans are generally considered to have real estate as collateral for them. Of course, getting a mortgage is not an easy task as well, especially when such a high loan amount is being taken into consideration. Many factors like rate of interest, loan term and the loan amount etc are needed to be kept in mind while applying for a mortgage loan.

The first step to acquiring a mortgage loan is to find and approach a genuine mortgage lender. An honest lender will give you an accurate and true picture about what your loan will have and what would you be expected to pay as a gross repayment at the end of the loan term including the rate of interest. He would also tell you exactly the amount of installments that you would be required to pay every month in order to payback the entire loan on time. He would also be wise enough to make sure at his end that you would be able to pay back the entire amount you are loaning, easily. He would inquire about your current monthly income, estimate the price of your collateral and also help you in finding out how much a loan amount can you afford to borrow.

At TheLoanBazaar.com, we give you the most suitable loan offers you are looking for. We take care to let you know all that would help you make a better choice while choosing your loan plan. We will also give you a true estimate about the monthly payments you will be expected to pay and the rate of interest we will be charging, keeping no information or fee hidden with us. Knowing the possible lengths of the loan term is very important, especially when a higher rate of interest is concerned. Usually, the wider your loan term, the lower is your interest rate, and the narrow your loan term spread, the higher your interest rate.

Always look for a loan plan that offers you to get a mortgage loan which has the apt length, affordable interest rates, and no hidden charges or fees.
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Introduction to Home Equity Loans

In life, we sometimes come across certain situations where we may require a large amount of financial aid, may be to complete your college educations, or apply for higher education, or may be to pay off a big bundle of unpaid loans.
It is in such circumstances that we require a huge amount as a loan which might not be an easy task to apply for without giving collateral worth its amount. This is where Home Equity loans come in as a great alternative.

Simply speaking, a Home Equity loan is the one in which the borrower borrows the loan money from a financing institution by keeping his home as a collateral against it.

Collateral is the real estate property that you keep with the lender as a guarantee that you will payback the debt. If you by any reason fail to payback the loan amount you owe to the lender, the lender can take possession of your collateral and sell it in the market to get its money back.

Equity can be defined as the difference between the price that your house is worth and the amount which you owe on it. It can also be known as the financial value of a real estate property beyond any sum you owe on it for claims, loans or mortgages.

Home Equity Loans can be categorized in to two types:

A home equity loan or a second mortgage is the scheme through which you can borrow bulk total amount worth your collateral in just a one-time lump sum. Such a loan is then paid off by the borrower over a fixed amount of time, for a fixed rate of interest and fixed monthly payments. Such type of a home equity loan is also known as a close ended loan.

HELOC or a home equity line of credit is more like a credit card account because it has a circling balance. A HELOC facilitates the borrower to borrow in installments. He can borrow only a certain amount of loan money which he needs instead of borrowing and keeping to himself the total lump sum amount.

We at TheLoanBazaar.com provide our clients with both the types of home equity loans to suit the varied requirements of all our clients.

A HELOC loan gives a borrower more flexibility in terms of rate of interests and the loan money installments as well as the pay back options, as compared to the fixed-rate home equity loans.

A line of credit home equity loan has adjustable interest rate that varies throughout the loan term. And therefore, monthly payback payments also vary depending on the varying interest rates.

While approving home equity loans to you, each lender will have their own procedure and company policies with the help of which they’ll decide how much money they are ready to give you for a home equity loan.
But what is more important is that regardless of the lender you have chosen for taking home equity loans with, be it a reputable financial firm or a known lender, it is crucial for you to critically go through all the paper work that is involved while applying for the loan. The monthly payment terms might vary from one lender to another, and so would vary the interest rates and the overall life term of the loan.

Some lenders might also require you to payback a large amounts like the balloon payments towards the end of the loan term, while others may include a handful of service fees on your repayments money, increasing the overall cost of your loan.

We at TheLoanBazaar.com make sure that no hidden cost and information is kept from you while providing you with the detailed information about your loan type and procedure for payback. With us, what you are told is what you get, and nothing more is added to your repayment without your prior knowledge.

Real Estate Loans

Real Estate is a hugely expensive investment, a luxury many people dream to buy but only a few really can. And moreover, these days, it is not really possible for a majority of people to buy real estate property through cash alone. But, for many people, this dream can come true with a real estate loan, which can help aid you to own a property of your own.

Different people have different intentions for taking up a real estate loan. Some may want to invest in real estate by buying a cooperative flat, while others may want to prepay the rent, some may plan to build a property while others may want to reconstruct their existing real estate. TheLoanBazaar.com makes various real estate loans available for people to fulfill their various requirements and needs accordingly.

These days, applying for a real estate loan is not much of a problem. Many financing agencies such as banks and money lending firms offer real estate loans to people. Although, there are certain prerequisites to obtaining a real estate loan, and as the amount involved is much higher than the ordinary loans, certain qualifications are also required to apply and qualify for a real estate loan.

Real estate loans can be known as secured loans as here, the borrower is mostly required to hand over a legal document to his lender, through which, he (the borrower as well as the owner of the new property) transfers to the lender the collateral as the security against the loan amount. This is done because the real estate loans involve huge amount of money in it, so just to secure the lender’s money and to guarantee that it will be repaid on time. And it is basically with this kind of assurance deal that the lender extends the loan to the borrower.

Also, the payback tenure or repayment period is another important factor while deciding on a real estate loan plan. Although this tenure varies from one lending company policy to another, it should be kept in mind that the longer the repayment tenure, the lower will be the installments, and the easier it will be for the borrower to payback. TheLoanBazaar.com makes sure that we provide our clients with competitive interest rates and as well as suitable payback tenure.

The real estate loans can be classified into two types:

1. Residential real estate loans
2. Commercial real estate loans

Being different types of loans, both of them also have some different prerequisites before applying for the loan. These are:

Residential real estate loan requirements:

• Filling up of a residential real estate loan online application form.
• Your last financial statement and your latest income tax return.
• Guarantor's most recent individual financial statement and latest individual tax return.

All these documents should be submitted along with the signed and filled up application form to the financing firm where the applicant wants to apply for a residential real estate loan. If applying for loans online, all these documents need to be attached or faxed to the lender company.

The materials needed for a real estate loan varies according to the requirements of different agencies and institutions.
When applying for a real estate loan, there are certain steps that the applicant should follow.

Commercial real estate loan requirements:

• Filling up the commercial real estate loan online application form and real estate appendix.
• Present and existing company financial statements and latest tax return.
• Guarantor's most recent individual financial statement and latest individual tax return.

All these documents should be submitted along with the correctly filled application form to the financing firm where the applicant wants to apply for a commercial real estate loan. If applying for loans online, all these documents need to be attached or faxed to the lender company.

At TheLoanBazaar.com we make sure that we clearly state our requirements to you so that the loan applying process is easier as well hassle free for you.

Introduction about Educational Loans

Want to study ahead but the fees are too high? Looking for a way to fund your college studies? All you need is an Education Loan. There are a variety of education loans out there, available for all students. What needs to be done is to gain a detailed knowledge about all of them, before you decide which one of them suits you the best.
Broadly, there are two types of education or student loans:

Federal Loans

Federal loans are one of the commonly opted for loans, like the Stafford Loans, Perkins Loans, and PLUS loans. These loans are basically financed by the government, but they are taken out through financial organizations and firms.

Out of the above mentioned three loan schemes, the Stafford and Perkins loans are two of the frequently opted for loan schemes by the undergraduates. The main reason for this is that these two loan schemes are generally known for giving reasonably low loan interest rates to their student applicants.

In the case of Federal loans, the student loan rate of interest is decided by the government and controlled by the current financial system, because these loans are given to those applicants who are able to show that they have considerable financial need.

Private Loans

Private loans are those offered by private financing firms and organizations or schools. Often it happens that many students cannot qualify for federal loans. In such cases, Private loans come to their rescue. Eligibility for Private loans often depends on a student’s credit score.

Since many different financial firms offer Private loans services, the loan interest rate of each of them varies from one another. Therefore, it is always best to look around to find the best loan rate which is also the lowest interest rate for a Private loan which you can qualify for.

An educational loan is a kind of a monetary support that has to be reimbursed on time. There are various types of loan alternatives which can assist you. Educational loan can be a vital element with your monetary assisting as a whole. It does not matter whether you opt to study at university level, at a college or at a private school, education overall has become expensive and beyond the reach of many.

If you are worried about your school fee, college education or further studies, don’t be! Loan Bazaar brings you the best schemes at the lowest price to make your dram education a reality by providing you best education loans.

Loan Bazaar allows the students to reimburse the loan slowly and after completion of their graduation. This way the students can give all their attention to the studies and not towards the loan worries.
Also, majority of the loans enable the students to postpone or delay the payment of the loan by at least six months after completion of their graduation. This enables the students to get a suitable job and they can pay off their loans with ease.

There are various loans that are made by various schools, government and private organizations. Most of them provide very minimal interest price. Some are created on the basis of the needs and some are not. At Loan Bazaar, seeing the fact that there are many students those who are having different requirements and desires, there are a variety of educational loans created suitably for the students, helping them with their monetary issues.

Higher education seems out of reach to many these days. To take thousands of dollars as a loan to pay as an education fee seems a scary idea. Also, majority of students are hesitant whether to take up a student loan for further education or not.

Loan Bazaar provides all the students with educational loans which will aid them by making payments for their education fee and getting a suitable job with a handsome salary and satisfying future prospects.
In the professional arena nowadays the basic criteria is the college study. So we provide educational loans that can be a real asset in securing the future of the students.

Personal Loans

With a lot many lenders on the block willing to offer their loan services to all, applying for a loan nowadays, is no longer a problem. Gone are the days when you had to wait to buy something or go out and do what you wanted to, because a hassle free and available to all personal loan is now no more a dream, but a reality.

Today, various loans are available in the market to suit individual needs of the people. In Personal Loans as well, different types of loans are available. They can serve you well in your financial limitations while making your living better. No delay should be done in availing a loan especially when it suits your financial situation and can be available to you in a desired time.

Personal Loans are basically of two types:

Secured Personal Loans

Unsecured Personal Loans

Secured personal loans can only be obtained by a borrower after keeping an asset such as real estate property, car or jewelry as collateral with the lender.

These kinds of loans help the lenders make sure that they will get their money back, and hence they approve and provide the loans for any amount of money with more security. Other than that, the approval of the loan application also depends a lot on the borrower’s credit history, his current monetary position, his current employment status and the obtainable equity in the deposited collateral.

Unsecured personal loans are one of its kind loans which do not ask you for depositing any valuable as security, while serving your financial purpose rightly as well. These loans suit the purpose of those borrowers well who do not want to keep their valuables with someone.

Both these loans are now easily available online. At TheLoanBazaar.com, we offer you quick access to both types of Personal Loans to suit your requirements. With just a simple sign up for an application form, you can get your loan amount put in directly in your bank account.
A hassle free lending process with very less paperwork and full support from our customer support and loan professionals, taking a loan could never get any easier and simpler.

Personal Loans have very many advantages to them, with first and foremost being so many personal loans choices. With both the secured and unsecured loans, there are so many plans to suit your individual needs along with varied interest rates.

It is advisable by TheLoanBazaar.com that every borrower should first shop around the market to look for the best loan program that suits his needs fully, and secondly, also gain knowledge about the various interest rates being offered by different lenders.

This will allow him to gain maximum knowledge and then make a suitably wise decision by choosing the right lender.

Personal loans by TheLoanBazaar.com are available to the borrowers for any purpose they want. They can either buy a real estate property or pay their children’s school fee or buy a car etc.
With online loaning, the borrowers have the advantage of being charged lesser that the land based loan provider. Also, with easily contactable and accessible platform, the borrower can at anytime call up the chosen loan company if they are facing any kinds of problems or want any advice.

CAR Loans

Planning to buy a new car? Chances are that with such high market prices, you may not be able to afford it all on your own. Buying a new car today is probably one of the few big purchases most of us are likely to make in our lives.

Most people prefer to opt for the car Loans to finance their car purchase. There are basically three types of Car Loans or financing options, the Banks, the Financing Firms and the Dealers.

Many banks and financing firms are now going online to make it even easier for their clients to access and apply for a loan. Loan Bazaar is one such popular online financing firm which offers its clients with competitive interest rates as well as lenient terms and rules to abide by.

We, at Loan Bazaar do in some cases, consider knowing some essential details of the applicant such as his income proof, identity proof, and sometimes, his credit report, we try our best to keep the loan application process simple, cheap and faster for you all.

Our online car loan services are quick and easy to find on the internet and we make sure, that when inquired, we get back to with instant quote which will clearly show you how many monthly repayments will you be making with the loan amount you are planning to take up.

We facilitate you by providing you with instant car loans at affordable monthly repayments. We also offer you several discount schemes and offers alongside offering free of cost loan quote. These loan quotes will help you compare all the offers and choose the suitable one which has the lowest cost and matches aptly with your financial needs and requirements.

Before applying to any lender or car loan provider, there are a few things that you should always keep in mind.

• Always calculate the amount you can afford to loan and repay back easily

• Keep a check on your credit report and keep an accurate and up to date record.

• Be aware about the different auto buying guides and different models available in the market for each style.

• Explore the loan market to find out what loans are available by different lenders and at what rates

• Always check and compare the different quotes by different lenders to choose the best and the most profitable rates and terms available

The Loan Bazaar recommends all the borrowers to thoroughly go through the loan agreement presented to you by any lender company, be it a Bank, a Financing Firm or a Dealer. Check to see whether or not there are any hidden costs which can lead you to make undesirable payments, further increasing your loan costs.

At Loan Bazaar, we offer simple and straight deals to our clients. Our loan deals and services do not make use of any complex strategies to trick you into paying more than you should.

STUDENT LOAN CONSOLIDATIONS

STUDENT LOAN CONSOLIDATIONS from Studentloans.com Combine your school debt to help reduce your overall monthly payment amount.

Consolidating student loans makes it easy to combine your school debt to help reduce your overall monthly payment amount. Federal Studen Do you have $35,000 or more in outstanding federal student loans? If so, Studentloans.com provides attractive borrower benefits to assist you in repaying your student loans. Consolidation loans can significantly reduce your monthly payments by extending the number of repayment years and taking advantage of up to 0.85% in interest rate reductions. 0.25% interest rate reduction for enrolling in automatic payments from a checking or savings account (also referred to as ACH) Additionally, all borrowers get a 0.6% interest rate reduction per federal rule when they consolidate within the grace period, which is the period within 6 months of graduation. In total, up to 0.85%* interest rate savings from Studentloans.com can generate tremendous savings over the life of your loan. t Loan Consolidations

Private Student Loan Consolidations Consolidating your private student loans may enable you to reduce your monthly payments by either extending the payment terms (i.e. lengthening the payback period), a lower interest rate, or both. The interest rate on private consolidation loans is based on the applicant’s credit score and history. Private consolidation loans offered through Studentloans.com offer: No fees Easy application process Instant credit decision Flexible repayment options Deferred payments while in school (up to 3 years) The choice of either a fixed or variable interest rate Note: Private consolidation loans through Studentloans.com do not consolidate federal student loans. In order to consolidate federal student loans, you may want to consider a federal consolidation loan as it is subsidized by the government and offers a lower interest rate.

Welcome to Studentloans.com

Student Loans from a Leading Not-for-profit Partner!

Studentloans.com is a leading not-for-profit education lender dedicated to helping students and families find the resources they need to fulfill their education funding objectives. Studentloans.com is your trusted resource for student loans for schools in the United States and Canada. Whether you need private student loans or federal student loans, we simplify the process of investigating, evaluating and applying for the funds you need to finance your education.

PRIVATE LOANS through Studentloans.com*
Is the financial aid package offered by your school just not enough? Do you find yourself wondering how to pay for the remaining costs? Private Loans through Studentloans.com are a fast and easy way to fund your education-related expenses. Private loans are credit-based consumer loans that can be used for any education-related purpose, including books, tuition, room, board, lab fees, and transportation. In general, private loans can be used to pay for the estimated annual cost of attendance. As a credit-based consumer education loan, applicants may need an established credit history to be approved.
• Fast decisions – preliminary approval usually within minutes • Applicable for undergraduate, graduate or continuing education	• Easy application process • No in-school payments required** • Affordable monthly payments

This valuable Scholarship Search tool allows you to search our online database of more than 69,000 college funding sources comprised of more than 5.9 million individually awarded scholarships valued at over $16 billion. Using the NextStudent database to find money for college is fast, completely private, and totally free of charge.

Simply enter your (or your student's) personal and academic information, and the NextStudent Scholarship Search Engine will select those awards that match your profile. It also provides, for all scholarships, the funding source's eligibility requirements, due dates, number of awards, award amounts, and contact information.

Search for Scholarships - NextStudent Scholarship Search Engine

This valuable Scholarship Search tool allows you to search our online database of more than 69,000 college funding sources comprised of more than 5.9 million individually awarded scholarships valued at over $16 billion. Using the NextStudent database to find money for college is fast, completely private, and totally free of charge.

Simply enter your (or your student's) personal and academic information, and the NextStudent Scholarship Search Engine will select those awards that match your profile. It also provides, for all scholarships, the funding source's eligibility requirements, due dates, number of awards, award amounts, and contact information.

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• For answers to questions regarding the NextStudent Scholarship Search Engine

NextStudent Private Student Loans

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