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How to Shop for a Car Loan

2. July 2009

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How to Shop for a Car Loan

Shopping for a car loan requires time spent researching various options.  Let’s take a look at a few of these options for important debts management. Let’s assume you are purchasing a new car from a dealership.  Odds are before you leave the lot with your new car, you will be escorted into the financial office where [...]

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Subsidized Federal Loans versus Unsubsidized Federal Loans

26. June 2009

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Subsidized Federal Loans versus Unsubsidized Federal Loans

The difference between a subsidized loan and an unsubsidized loan is that the former is given based on financial need whereas the latter entails paying interest until the debts are repaid in full. An example of a subsidized loan is the Stafford Loan, either Direct or FFEL.  The amount loaned to a student depends upon whether [...]

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Research Before You Apply

23. June 2009

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Research Before You Apply

During this economic crisis, many lenders are withdrawing from programs designed to afford students the opportunity to attend a college or university through college debts. In an effort to ascertain what types of grants or loans are available, it is necessary to research before you apply. The internet will afford you the ability to do [...]

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Forgiveness Options: What Is That?

23. June 2009

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Forgiveness Options:  What Is That?

Loan forgiveness and/or cancellation of debts and loans are granted by the federal government if you meet certain qualifications. These include if you agree to perform volunteer work, do military service, teach, practise medicine in certain types of communities, or meet other forgiveness program criteria. Examples of volunteer work include serving for one year in AmeriCorps, serving [...]

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Pay Those Federal Loans Off First

19. June 2009

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Pay Those Federal Loans Off First

This current recession has brought about much angst over student debts and repayment.  A poll of college graduates was taken in 2007, which showed that these graduates were struggling to pay back their loans. The statistics in this poll also revealed that 44% of the college graduates were postponing buying a home, 28% were delaying having [...]

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Never Borrow More Than You Need

18. June 2009

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Never Borrow More Than You Need

When a student applies for financial aid, usually the college will award the cost of attendance and/or a fixed amount for debts. For example, an undergraduate may receive up to $4000 per year (maximum total $20,000), while a graduate may receive up to $6000 per year (maximum total $40,000).  There are conditions, however.  The amount received [...]

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Find a Flexible Lender

17. June 2009

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Find a Flexible Lender

What is the best course of action in locating a lender if you are a student requiring financial aid?  Every college and/or university has a financial aid office.  This office will be able to provide you with a “Preferred Lender List” via their online website or by visiting the college financial aid office. This is a [...]

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Hitting a Financial Aid Brick Wall

17. June 2009

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Hitting a Financial Aid Brick Wall

If you have hit a brick wall during the debts financing of a student loan, you may be able to recover using the HEA or Higher Education Act’s Section 674.39 on Loan Rehabilitation. The Higher Education Act of 1965 and the 1998 amendments clearly state the required statutes of this Act.  To wit: If the borrower of [...]

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Would Debt Consolidation Work For You?

15. June 2009

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Would Debt Consolidation Work For You?

If you have a multitude of credit card bills, one option you can utilize to pay off most of them is through consolidation of debts. For example, let’s assume you have several credit cards with high interest rates.  The monthly payments are becoming more difficult to pay, and you feel as if the hole you are [...]

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Tips for Paying Off Credit Card Debt

8. June 2009

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Tips for Paying Off Credit Card Debt

Experts will tell you that the best way to pay off credit card debt is to make a list of your credit cards with the highest interest rates cards first.  Then, for the card at the top of the list, pay off as much as possible each month instead of making the minimum payment. When that [...]

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Say No to Credit Cards

2. June 2009

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Say No to Credit Cards

The current economic crisis has proved conclusively that we are a nation in debt, that the banks are not engaged in lending, and that as individuals we owe more than ever before - due to credit card debt. Why say no to credit cards?  Consider the consequences of credit card debt on banks, corporations, and individuals. The [...]

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Would Debt Consolidation Work For You?

27. May 2009

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Would Debt Consolidation Work For You?

If you have a multitude of credit card bills, one option you can utilize to pay off most of them is through debt consolidation. For example, let’s assume you have several credit cards with high interest rates.  The monthly payments are becoming more difficult to pay, and you feel as if the hole you are in [...]

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Cheaper Car through Preapproved Bank Loan?

19. May 2009

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Cheaper Car through Preapproved Bank Loan?

Buying a car can be a grueling process. It usually goes something like this: You go to a dealership and find an automobile that suits your tastes and/or needs. You discuss it with the salesperson, take it for a test drive, and decide whether to pursue it or keep looking. If you’re still interested, you [...]

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Ten Tips to Surviving Sudden Job Loss

14. May 2009

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Ten Tips to Surviving Sudden Job Loss

With the ever-changing economic climate and the tendency for manufacturing jobs to go overseas, layoffs have become all too common. One day you might be going in to work as usual, and the next you could be sent packing and thinking about the prospects of being in debt. Unexpected job loss can really take the wind [...]

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Book Review of Zero Debt - The Ultimate Guide to Financial Freedom

27. October 2008

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Book Review of Zero Debt - The Ultimate Guide to Financial Freedom

This is a book review of “Zero Debt - The Ultimate Guide to Financial Freedom” by author Lynnette Khalfani. Do you lose sleep over your credit card debt? If so, then Zero Debt: The Ultimate Guide to Financial Freedom is the book to help you get back to your debt-free life. This book, which Dr. Phil [...]

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