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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 [...]
Continue reading...Subsidized Federal Loans versus Unsubsidized Federal Loans
26. June 2009
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 [...]
Continue reading...Research Before You Apply
23. June 2009
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 [...]
Continue reading...Forgiveness Options: What Is That?
23. June 2009
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 [...]
Continue reading...Pay Those Federal Loans Off First
19. June 2009
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 [...]
Continue reading...Never Borrow More Than You Need
18. June 2009
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 [...]
Continue reading...Find a Flexible Lender
17. June 2009
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 [...]
Continue reading...Hitting a Financial Aid Brick Wall
17. June 2009
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 [...]
Continue reading...Would Debt Consolidation Work For You?
15. June 2009
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 [...]
Continue reading...Tips for Paying Off Credit Card Debt
8. June 2009
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 [...]
Continue reading...Say No to Credit Cards
2. June 2009
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 [...]
Continue reading...Would Debt Consolidation Work For You?
27. May 2009
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 [...]
Continue reading...Cheaper Car through Preapproved Bank Loan?
19. May 2009
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 [...]
Continue reading...Ten Tips to Surviving Sudden Job Loss
14. May 2009
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 [...]
Continue reading...Book Review of Zero Debt - The Ultimate Guide to Financial Freedom
27. October 2008
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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2. July 2009
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