Direct PLUS loan payment details
March 25th, 2010 by carla_guillermo
You may have heard this one but do you agree with the idea that everyone has a right for good education? Well, if yes then the primary advocate for this kind of right is the parents. However, it is a sad fact that not all parents has the capacity to send their children to good universities and their need for financial aids greatly increases as time passes by. Good thing that the Direct PLUS Loan is now manageable online and it is intended for parents that assist their child’s education but required to be paid back. In times of financial hardship, parents can opt for postponing payments as long as the student is enrolled at least half time. The interest of this kind of loan can be tax deductible when parents make payments on the loan during the course of the tax year. Lastly, repayment begins 60 days after disbursement but parents can also start payments immediately.
pic via edonline.com
Student Loan Cons
March 24th, 2010 by carla_guillermo
If you read the previous article regarding the advantages of getting a student loan then you might be convinced now because there is only one disadvantage that you may encounter when you applied for a student loan. The bad point is that graduates are prohibited from discharging their student loan debt by declaring bankruptcy. The reason for this limitation is that student loan falls under social services offered by the government. You can prevent this bankruptcy incidence by self-discipline, good working condition and prompt payment.
pic via alumni.unh.edu
Basic: Direct PLUS Loan
March 23rd, 2010 by carla_guillermo
Because most of university studies nowadays require financial aid for a student to sustain education, it is not surprising that most institutions offer several types of loans like federal, private, subsidized, unsubsidized, student and parent. For parent loans, you can look at the Direct PLUS program which is a great program for parents who want to assist in paying for their child’s education but do not have the available funding. It covers the costs of education that are not covered by all the other financial aid the student receives.
pic via www.parentplusloanapplication.com
Is lease the right stuff for you?
February 2nd, 2010 by carla_guillermoIn getting your dream car, financial decisions are very important. Aside from asking yourself the quality and characteristics of your desired vehicle, take the buying options and capabilities in mind. If you don’t put much mileage per year or maybe just below 15,000 on your car or your usual trips are just short, then you would benefit more with lease than a loan. If you opt to change brands of car more often and you value new car warranty that much, then go for a lease.
If you want to drive the latest car models than own them, lease would be good. But if you want to do some car modifications, then go for a loan. Lastly, if you have a strong credit history you will have no problem getting a lease instead of having financial bruises that may get loan as an alternative.
Is car loan the right stuff for you?
January 31st, 2010 by carla_guillermoIn comparison with home loans, car loans run much shorter. But before you get too excited, read on to help you decide if it is right for you. If you need no mileage limits because you put a lot of miles on your car, then loan is the best one for you. In contrast with lease, you will have no restrictions on the miles that you need to cover per year. If you think that wear-and-tear charge would be a big deal in maintaining a spotless car, then loan is the best for you.
Because loan offers much more credit flexibility than leases and you figured out that your credit is improving but not perfect, then go for a loan. If your car ownership definition covers a lot of years and not just for the moment, loan would give you a title and drive as long as you want. Lastly, if you are into modifying your car’s physical appearance like paint brushing or having a spoiler, definitely have a loan.
Basics: Where to get a loan
January 24th, 2010 by carla_guillermo
If you figured out that you really need a loan but uncertain on where to get one, this article would be a great help. Let me enumerate to you the options on where to get a loan. First on the list is online. Yes, you read it right. Loan is now available through the internet with the comfort of your home. No need to ride a bus or make phone calls, just search finance companies like Lending Tree and AutoTrader.com online with their respective offers and make a sound decision.
Next would be the typical banks and credit unions which are very popular nowadays especially if you already have an account. Don’t limit your options on your usual banks when looking for the best offer. Last but not the least is dealerships where you could have access to different lenders. This option works best for auto loans where lenders give incentives for financing. Whatever you choose, just make sure that you read all the details and agreements before you commit.
Basics: Loan
January 23rd, 2010 by carla_guillermoFirst and foremost, the word loan is part of the jargon when it comes to financial concerns. But if you are just learning the basics, loan is simply defined as a way to get what you want when you don’t have what it takes. Loan revolves on money, agreement, payment terms and ownership.
For an example, if you want a car and you don’t have enough money, you can apply for an auto loan to have one. But it is not that simple, you have to agree with the terms that come with it. You and the lender would talk about the interests, when and how to pay the money at regular intervals for a period of time. The good thing with loan is that, after everything was settled you can now drive your own car.
But you might ask on how much does a loan would cost. You need good mathematics or calculator with this one. First, know your monthly payment and the number of payments you need to complete the agreement. Next is that you multiply the two numbers to get the cost. If you got approved for a loan of $20,000 for 60 months but agreed to give $356 every month, the total cost after that period would be $21,360. The excess $1,360 would just be allocated for the interest. These would be in simple terms because if the case would be a little bit complicated with trading, cash down, etc. you need to do specific calculations.