6 Student Loan Forgiveness Options You May Not Know About
1. Volunteer
While it’s not strictly a loan forgiveness program, AmeriCorps volunteers are eligible for an education award after they complete their term of service. If you serve full-time for one year, you’ll receive $5,775, which can be used to pay off student loans or pay for future educational expenses. Plus, any time you spend serving full-time in AmeriCorps counts toward public service loan forgiveness.
If you are an AmeriCorps VISTA volunteer and decline the education award in favor of a cash stipend, you may be eligible to have a portion of your Perkins Loans cancelled.
2. Pull up stakes
Cities and states want to attract young, educated residents, and some are willing to pay off a portion of your student loans to get you to relocate. Niagara Falls, New York, will give you nearly $7,000 to pay off your student loans if you agree to live in certain neighborhoods in the city for up to two years. If you move to one of 77 counties in Kansas that’s been designated a Rural Opportunity Zone, you may be receive up $15,000 for your student loans.
3. Work in an eligible profession
Working for the government or a non-profit is one path toward loan forgiveness, but those aren’t the only careers where you can get help with your debt. Doctors, nurses, veterinarians, dentists, and others who work in healthcare professions may qualify for forgiveness if they work in under-served areas. Forgiveness may also be available for teachers and lawyers. In New York, young farmers can have up to $50,000 in student loans wiped out. Firefighters, police officers, and even some librarians may have their Perkins Loans forgiven.
To find out what loan forgiveness programs might be available in your area, check out this ebook from American Student Assistance.
4. Serve in the military
Joining the armed forces isn’t for everyone, but if you do elect to serve, you may be eligible to have some of your student loans forgiven. The Army’s College Loan Repayment Program may repay up to $65,000 in loans if you serve for at least three years and meet certain other requirements. Members of the armed forces who serve in a hostile fire or imminent danger area may have all of their Perkins Loans discharged. Time spent in the military also counts toward public service loan forgiveness.
5. Work for a generous employer
It’s not yet a common benefit, but a handful of companies now offer to help employees pay off their student loans. PricewaterhouseCoopers rolled out such a benefit in 2015 and financial firm Fidelity recently announced a similar initiative. Employees who’ve worked at Fidelity for at least six months will receive $2,000 a year toward their loans, up to $10,000.
6. Other discharge options
Loan discharge or forgiveness is also available to borrowers in a handful of other extreme situations. If you’re totally and permanently disabled, you may be excused from paying your federal student loans. Discharge may also be an option if the school you attended closes while you’re still enrolled or shortly after you leave, or if you’re a victim of fraud.
In rare cases, student loans can be discharged in bankruptcy. The process is difficult and often unsuccessful, so most borrowers don’t pursue it. However, the White House has indicated its interested in loosening the rule around student loans and bankruptcy, so more borrowers may eventually be able to pursue this path.
Lisa501
Lisa 501
Friday, June 3, 2016
Loans for Undergraduate Students
Loans for Undergraduate Students
Our zero fee private student loans for students seeking undergraduate degrees complement federal student loans and other financial aid to help you pay for college. Applying online is quick and easy and our knowledgeable Student Loan Specialists are ready to help you 24/7.
Undergraduate Loan Features
1-) To qualify, you must:
Be enrolled at least half-time in a Bachelor's or Associate's degree program at an eligible school.
Be seeking a degree.
Be making satisfactory academic progress as defined by your school.
Be a US citizen, permanent resident or international student (International students require a cosigner who is a US Citizen or permanent resident).
Be 16 years or older at the time you apply.
Pass a credit check.
2-) Each year, you can borrow up to 100% of your school-certified cost of attendance (including tuition, housing, books and more) minus other financial aid.
The minimum amount is $1,000 for each loan.
We certify and disburse loan amounts through your school so you do not borrow more than you need.
3-) Private student loans are credit based. Students with no credit history or a low credit score may find it difficult to qualify for a private student loan on their own. Students have the option to apply for a Discover student loan with a cosigner. By applying with a creditworthy cosigner, you may improve your likelihood for loan approval and may receive a lower interest rate.
4-) A fixed interest rate is set during the time of application and does not change during the life of the loan.
A variable interest rate may change quarterly during the life of the loan, if the 3-Month LIBOR changes. This may cause the monthly payment to increase, the number of payments to increase, or both.
5-) Doing your homework has its rewards. Get at least a 3.0 GPA (or equivalent) and receive a one-time cash reward of 1% of the loan amount of each new Discover student loan (applicable for eligible loan applications submitted on or after May 1, 2014). Reward redemption period is limited.
6-)Get a 0.25% interest rate reduction when you are enrolled in automatic payments during repayment. To enroll for automatic payments, complete the enrollment form online or call us at 1-800-STUDENT to request a copy of the enrollment form, complete it and mail it back to the address on the form.
Wednesday, June 1, 2016
Loans for Bad Credit
Loans for Bad Credit
Can I get a loan from Pounds to Pocket?
This question depends on the potential borrower. Pounds to Pocket requires borrowers to be at least 18 years old, along with having a valid bank account, evidence of employment and UK residency. As far as credit rating, we consider all applicants based on their individual credit history and associated risk.
How long does the lending process take?
This is variable based on the potential borrower's credit history and the lender's evaluation process. At Pounds to Pocket, we perform an individual status review with Credit Reference Agencies for every application received. Depending on an applicant's credit history, this process is usually completed in under 30 minutes (may take additional time),¶ and if the borrower is approved, funds can be delivered to their account within 10 minutes after approval.§
What are the lending options at Pounds to Pocket?
Pounds to Pocket offers its customers the LoanBuilder, a personal loan option created to cater to each individual borrower's unique financial situation. With variable loan amounts available up to £2,000,† customers can apply for a loan capable of handling a variety of situations and circumstances. And thanks to fluid repayment periods anywhere from six to 12 months, customers can select a loan that suits their needs without straining their ability to repay.
What can I use a loan for?
We recommend to all of our customers that loans be used in emergencies. While the definition of 'emergency' can certainly change depending on who you ask, we define them as unexpected complications with substantial costs attached. Whether this means auto repair, home reconstruction or some other unplanned for emergency, it's important to remember that these short-term loans should be taken on only when absolutely necessary.
Does Pounds to Pocket report to the credit industry?
Short answer: Yes.
Long answer: Pounds to Pocket reports its customers' repayment habits as positive or negative, depending on their ability to repay their loans on time. Specifically, if a customer makes on-time payments and completes their repayment schedule by the planned date, Pounds to Pocket's report should reflect a positive change to their credit score. If their payments are late, chances are that the Pounds to Pocket report will impact their rating negatively.
Does Pounds to Pocket offer loans shorter than 6 months in duration?
No we do not, but you can visit QuickQuid for more information about the short-term loans available from our sister website. Borrow over 1, 2 or 3 pay periods, and if approved, cash will be sent within 10 minutes after approval.
Can I get a loan from Pounds to Pocket?
This question depends on the potential borrower. Pounds to Pocket requires borrowers to be at least 18 years old, along with having a valid bank account, evidence of employment and UK residency. As far as credit rating, we consider all applicants based on their individual credit history and associated risk.
How long does the lending process take?
This is variable based on the potential borrower's credit history and the lender's evaluation process. At Pounds to Pocket, we perform an individual status review with Credit Reference Agencies for every application received. Depending on an applicant's credit history, this process is usually completed in under 30 minutes (may take additional time),¶ and if the borrower is approved, funds can be delivered to their account within 10 minutes after approval.§
What are the lending options at Pounds to Pocket?
Pounds to Pocket offers its customers the LoanBuilder, a personal loan option created to cater to each individual borrower's unique financial situation. With variable loan amounts available up to £2,000,† customers can apply for a loan capable of handling a variety of situations and circumstances. And thanks to fluid repayment periods anywhere from six to 12 months, customers can select a loan that suits their needs without straining their ability to repay.
What can I use a loan for?
We recommend to all of our customers that loans be used in emergencies. While the definition of 'emergency' can certainly change depending on who you ask, we define them as unexpected complications with substantial costs attached. Whether this means auto repair, home reconstruction or some other unplanned for emergency, it's important to remember that these short-term loans should be taken on only when absolutely necessary.
Does Pounds to Pocket report to the credit industry?
Short answer: Yes.
Long answer: Pounds to Pocket reports its customers' repayment habits as positive or negative, depending on their ability to repay their loans on time. Specifically, if a customer makes on-time payments and completes their repayment schedule by the planned date, Pounds to Pocket's report should reflect a positive change to their credit score. If their payments are late, chances are that the Pounds to Pocket report will impact their rating negatively.
Does Pounds to Pocket offer loans shorter than 6 months in duration?
No we do not, but you can visit QuickQuid for more information about the short-term loans available from our sister website. Borrow over 1, 2 or 3 pay periods, and if approved, cash will be sent within 10 minutes after approval.
Credit Unsecured Loans | Bad Credit Loans Instant Decision
Credit Unsecured Loans | Bad Credit Loans Instant Decision
A bad credit loan is an option to consider for would-be borrowers who are struggling to find credit from other sources.
It's likely that the interest rates levied on such loans will be high, a reflection of the borrower's lack of other choices and the fact that they're likely to have a poor or non-existent credit history.
Bear in mind that people who have had County Court Judgements (CCJs)† against them or those who have been declared bankrupt† in the past are unlikely to be accepted for a loan offered through Gocompare.com.
What's more, making an unsuccessful application could damage your credit score even further.
What's a bad credit loan?
A bad credit loan isn't a 'bad' thing in its own right - it's simply a loan for people with a poor credit history.
Perhaps you've missed repayments, missed bill payments and/or made failed applications for credit.
Even if you've never borrowed in the past, you might still struggle to qualify for the market-leading loans. After all, the lender has nothing to show that you can be relied upon to make your repayments.
To some lenders you're too much of a risk, but to others you're a chance to do some business in a competitive lending market.
Why choose a bad credit loan?
There's no getting away from the fact that if you're considering one of these products it's likely to be because your options are limited.
Having said that, these are acceptable financial products that are a lot better than some of the options out there for people struggling with their finances.
What's more, if managed responsibly a bad credit loan could help you build or repair a poor credit score.
One way of thinking about a poor credit loan is as a last-chance saloon for your record.
If at all possible it's good to avoid taking on extra debt but, depending on your circumstances, you might be able to use a bad credit loan to manage any current deficits.
For example, you could consolidate your debt, extend your repayment period, or even cut your interest rate.
Whatever you do, though, don't use the financial breathing space that may be offered by a bad credit loan as an excuse to take out further short-term loans or credit deals.Cutting the cost of loans
Concentrate on meeting your repayments to avoid damaging your credit rating further and, if at all possible and your deal allows it, try to make overpayments to pay down your loan as quickly as possible.
Make a soft search for a bad credit loan
Because you're looking at less competitive rates, it's even more important to compare bad credit loans so that you can find the cheapest borrowing possible.
You should be aware, though, that the best deals will only be available to customers that the lender judges to have the best credit scores.
Also, if you have an application rejected it'll leave a mark on credit files, which could further damage the way a lender scores you.
That's why it makes sense to make a soft search (also known as a 'smart search') for loans before applying.
If you use Gocompare.com's smart search loans comparison tool you'll only see the deals that you're likely to qualify for, giving you a better idea of the actual rates available to you and helping you make the right application.
Secured v unsecured debt
If you're a homeowner or you have another significant asset such as an expensive car that you can use as collateral, then making your bad credit deal a secured loan is an option.
Secured loans are likely to be offered at lower rates than personal loans, and they may be the only option if you're looking to borrow a significant sum.
You need to think carefully before securing any debt against your home, though, as it's then at risk if you don't keep up your repayments.Personal loans
If you already have a bad record of repayments it's especially important that you know what you're getting into before putting your home at risk.
Take extra care before turning unsecured, personal debt into a secured loan, even if the repayment figures look attractive.
Protecting an unsecured loan
While the last thing you're likely to want or need is an extra monthly outgoing, it's worth considering an income protection policy to protect your loan payments.
If your loan is secured against your home, such a policy could help you meet essential repayments in unexpected circumstances.
http://www.gocompare.com/loans/bad-credit-loans/
A bad credit loan is an option to consider for would-be borrowers who are struggling to find credit from other sources.
It's likely that the interest rates levied on such loans will be high, a reflection of the borrower's lack of other choices and the fact that they're likely to have a poor or non-existent credit history.
Bear in mind that people who have had County Court Judgements (CCJs)† against them or those who have been declared bankrupt† in the past are unlikely to be accepted for a loan offered through Gocompare.com.
What's more, making an unsuccessful application could damage your credit score even further.
What's a bad credit loan?
A bad credit loan isn't a 'bad' thing in its own right - it's simply a loan for people with a poor credit history.
Perhaps you've missed repayments, missed bill payments and/or made failed applications for credit.
Even if you've never borrowed in the past, you might still struggle to qualify for the market-leading loans. After all, the lender has nothing to show that you can be relied upon to make your repayments.
To some lenders you're too much of a risk, but to others you're a chance to do some business in a competitive lending market.
Why choose a bad credit loan?
There's no getting away from the fact that if you're considering one of these products it's likely to be because your options are limited.
Having said that, these are acceptable financial products that are a lot better than some of the options out there for people struggling with their finances.
What's more, if managed responsibly a bad credit loan could help you build or repair a poor credit score.
One way of thinking about a poor credit loan is as a last-chance saloon for your record.
If at all possible it's good to avoid taking on extra debt but, depending on your circumstances, you might be able to use a bad credit loan to manage any current deficits.
For example, you could consolidate your debt, extend your repayment period, or even cut your interest rate.
Whatever you do, though, don't use the financial breathing space that may be offered by a bad credit loan as an excuse to take out further short-term loans or credit deals.Cutting the cost of loans
Concentrate on meeting your repayments to avoid damaging your credit rating further and, if at all possible and your deal allows it, try to make overpayments to pay down your loan as quickly as possible.
Make a soft search for a bad credit loan
Because you're looking at less competitive rates, it's even more important to compare bad credit loans so that you can find the cheapest borrowing possible.
You should be aware, though, that the best deals will only be available to customers that the lender judges to have the best credit scores.
Also, if you have an application rejected it'll leave a mark on credit files, which could further damage the way a lender scores you.
That's why it makes sense to make a soft search (also known as a 'smart search') for loans before applying.
If you use Gocompare.com's smart search loans comparison tool you'll only see the deals that you're likely to qualify for, giving you a better idea of the actual rates available to you and helping you make the right application.
Secured v unsecured debt
If you're a homeowner or you have another significant asset such as an expensive car that you can use as collateral, then making your bad credit deal a secured loan is an option.
Secured loans are likely to be offered at lower rates than personal loans, and they may be the only option if you're looking to borrow a significant sum.
You need to think carefully before securing any debt against your home, though, as it's then at risk if you don't keep up your repayments.Personal loans
If you already have a bad record of repayments it's especially important that you know what you're getting into before putting your home at risk.
Take extra care before turning unsecured, personal debt into a secured loan, even if the repayment figures look attractive.
Protecting an unsecured loan
While the last thing you're likely to want or need is an extra monthly outgoing, it's worth considering an income protection policy to protect your loan payments.
If your loan is secured against your home, such a policy could help you meet essential repayments in unexpected circumstances.
http://www.gocompare.com/loans/bad-credit-loans/
Bad credit loans
Bad credit loans
Loans for people with bad or poor credit
If you have had problems with credit in the past, or are currently experiencing financial difficulties, you may think that you won’t qualify for a personal or secured loan.
However, there are loans for bad credit available and here we highlight your choices and the issues you need to consider.
Reasons for needing a loan for bad credit
You may find that you need to apply for a bad credit loan if you have a low or poor credit rating.
This could be the result of missing repayments such as for a credit card, phone contract or mortgage.
You might also be a victim of having a non-existent credit rating.
In order to know if you are trustworthy the bank will want to see evidence that you will make all repayments on time, without a credit history this information isn’t available to them.
Compare bad credit loans
Compare a wide range of bad credit loans that are suitable for people with poor credit.
What is a secured loan?
It’s very important to be aware of the different types of loans for people with bad credit. There are both secured and unsecured loans.
A secured loan means that the lender has a claim to your property if you cannot keep up with repayments.
There’s a chance that the interest rate will be lower for secured loans, however you need to think very carefully before taking one out.
If you default on your payments you could risk losing your home.
Is a secured loan the best choice for people with bad credit?
If you are a homeowner and have a history of bad credit you are more likely to be offered a secured loan rather than a personal loan.
A secured loan does offer more choice as:
the eligibility criteria are generally less rigorous than a personal loan
the amount you can borrow is higher than a personal loan
the repayment term can be longer
However, the lending company is only able to offer these benefits because its risk is reduced by having your house as security against the loan.
What steps can I take to improve my credit rating
Debt consolidation loan. If you want to control your debt by having one manageable, monthly repayment, a debt consolidation loan could help you.
Pay off your loans. If you are able to pay off the loan and accrue no further debt, this will be seen as a positive value towards your credit rating.
Check your credit report. It is a good idea to check your credit report before you apply for a debt consolidation loan or secured loan.
Loans for people with bad or poor credit
If you have had problems with credit in the past, or are currently experiencing financial difficulties, you may think that you won’t qualify for a personal or secured loan.
However, there are loans for bad credit available and here we highlight your choices and the issues you need to consider.
Reasons for needing a loan for bad credit
You may find that you need to apply for a bad credit loan if you have a low or poor credit rating.
This could be the result of missing repayments such as for a credit card, phone contract or mortgage.
You might also be a victim of having a non-existent credit rating.
In order to know if you are trustworthy the bank will want to see evidence that you will make all repayments on time, without a credit history this information isn’t available to them.
Compare bad credit loans
Compare a wide range of bad credit loans that are suitable for people with poor credit.
What is a secured loan?
It’s very important to be aware of the different types of loans for people with bad credit. There are both secured and unsecured loans.
A secured loan means that the lender has a claim to your property if you cannot keep up with repayments.
There’s a chance that the interest rate will be lower for secured loans, however you need to think very carefully before taking one out.
If you default on your payments you could risk losing your home.
Is a secured loan the best choice for people with bad credit?
If you are a homeowner and have a history of bad credit you are more likely to be offered a secured loan rather than a personal loan.
A secured loan does offer more choice as:
the eligibility criteria are generally less rigorous than a personal loan
the amount you can borrow is higher than a personal loan
the repayment term can be longer
However, the lending company is only able to offer these benefits because its risk is reduced by having your house as security against the loan.
What steps can I take to improve my credit rating
Debt consolidation loan. If you want to control your debt by having one manageable, monthly repayment, a debt consolidation loan could help you.
Pay off your loans. If you are able to pay off the loan and accrue no further debt, this will be seen as a positive value towards your credit rating.
Check your credit report. It is a good idea to check your credit report before you apply for a debt consolidation loan or secured loan.
Compare Bad & Refused Credit Loans
Bad credit loans
A bad credit loan, as its name suggests, is a loan specifically designed for people with a poor credit history.There are plenty of reasons why you might have a bad credit rating, from having failed to keep up with payments on a previous credit agreement, to having a County Court Judgement (CCJ) against you. Even if you’ve never had a loan or credit card before you could end up with a poor credit rating because lenders can’t access any evidence to show that you could manage your borrowing successfully.
Normally it is virtually impossible to borrow from a mainstream lender if you have bad credit history, which is why there are specialist loans and credit cards available for people with poor credit records.
Advantages and disadvantages of bad credit loans
The biggest advantage of a bad credit loan is that you are actually able to borrow money, which you otherwise wouldn’t be able to do because of your poor credit history.
This can provide a real financial lifeline to people who need a loan either to cover a major purchase, or perhaps to consolidate other debts.Another advantage is that having a loan can actually help people with a bad credit rating to repair their credit status. This is because, provided you always make payments on time, you demonstrate that you can manage your money responsibly.
The biggest drawback with this kind of loan is that interest rates are normally very high relative to standard loans. As applicants for bad credit loans have usually had problems managing their finances previously, they therefore represent a much higher risk to lenders, and therefore the rates they are offered are much higher than they would be for someone with a good credit score.
Things to note when trying to get a loan with bad credit
Loans can either be unsecured, which means the lender has no claim to your property if you are unable to keep up with your repayments, or secured, which means the loan is secured against your home or another asset.
If you choose a loan which is secured, then although you might pay a lower rate of interest, your home could be at risk if you can’t keep up with the repayments.
When considering how long you want to repay your loan, remember that if you opt for a longer repayment term, you will end up paying much more interest than if you try and pay off what you owe quickly.
It’s also worth bearing in mind that interest rates on bad credit loans tend to be tiered depending on how much you borrow. Rates usually get lower the more you borrow, so if you are only just in a lower tier, it might sometimes be worth borrowing a little bit more to benefit from a lower rate. But don’t borrow more than you can afford to repay!
Find the right loans for you
There are many different loans for people with bad credit, so always do plenty of research before applying to make sure you have found the best loan to suit your needs. You can also compare debt consolidation loans if this is suitable for you.
http://www.moneysupermarket.com/refusedcredit/
A bad credit loan, as its name suggests, is a loan specifically designed for people with a poor credit history.There are plenty of reasons why you might have a bad credit rating, from having failed to keep up with payments on a previous credit agreement, to having a County Court Judgement (CCJ) against you. Even if you’ve never had a loan or credit card before you could end up with a poor credit rating because lenders can’t access any evidence to show that you could manage your borrowing successfully.
Normally it is virtually impossible to borrow from a mainstream lender if you have bad credit history, which is why there are specialist loans and credit cards available for people with poor credit records.
Advantages and disadvantages of bad credit loans
The biggest advantage of a bad credit loan is that you are actually able to borrow money, which you otherwise wouldn’t be able to do because of your poor credit history.
This can provide a real financial lifeline to people who need a loan either to cover a major purchase, or perhaps to consolidate other debts.Another advantage is that having a loan can actually help people with a bad credit rating to repair their credit status. This is because, provided you always make payments on time, you demonstrate that you can manage your money responsibly.
The biggest drawback with this kind of loan is that interest rates are normally very high relative to standard loans. As applicants for bad credit loans have usually had problems managing their finances previously, they therefore represent a much higher risk to lenders, and therefore the rates they are offered are much higher than they would be for someone with a good credit score.
Things to note when trying to get a loan with bad credit
Loans can either be unsecured, which means the lender has no claim to your property if you are unable to keep up with your repayments, or secured, which means the loan is secured against your home or another asset.
If you choose a loan which is secured, then although you might pay a lower rate of interest, your home could be at risk if you can’t keep up with the repayments.
When considering how long you want to repay your loan, remember that if you opt for a longer repayment term, you will end up paying much more interest than if you try and pay off what you owe quickly.
It’s also worth bearing in mind that interest rates on bad credit loans tend to be tiered depending on how much you borrow. Rates usually get lower the more you borrow, so if you are only just in a lower tier, it might sometimes be worth borrowing a little bit more to benefit from a lower rate. But don’t borrow more than you can afford to repay!
Find the right loans for you
There are many different loans for people with bad credit, so always do plenty of research before applying to make sure you have found the best loan to suit your needs. You can also compare debt consolidation loans if this is suitable for you.
http://www.moneysupermarket.com/refusedcredit/
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