Monday, January 23rd, 2012
How FICO scores are determined A FICO score is derived from a complex algorithm that weighs different aspects of your past and present financial situation in order to predict how good of a credit risk you are likely to be in the future. Each factor is weighted differently depending on …
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Sunday, January 22nd, 2012
When it comes to student loans, the biggest question is whether to consolidate your loans or not. In some cases, consolidating your loans can lower your monthly payments and help you avoid high interest rates which is a winning combination that can save you money in the short term and …
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Wednesday, January 18th, 2012
However, be advised that if you already have accumulated bad credit, you’re most likely going to only find loans that come with high interest rates attached. The good news is that you won’t have to start paying back that student loan until you’re finished with school, so you can start …
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Friday, January 13th, 2012
Have you ever considered the possibility of consolidating your student loans? When you consolidate, you take all your student loan payments and combine them into one new consolidated student loan, one with a much lower payment total than what you had been paying. The most common reason graduates choose to …
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Sunday, January 8th, 2012
Applying for an individual student loan can lower the interest rate because places offer incentives to use them for the loan. Some companies offer a lower rate for having the monthly payment automatically deducted from your account. There is also a benefit by making so many consecutive payments, on time, …
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Friday, January 6th, 2012
Loan consolidation entails taking out a single loan in order to pay off several others. This is done for convenience, as you can often get a lower interest rate, and you only have 1 monthly loan payment to keep track of. It is also good for your credit history. Often, …
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Monday, January 2nd, 2012
A student loan is simply a form of financial aid to help pay for the costs of attending a college or university. This money must be repaid (with interest) which is why it is a loan and not a grant or a scholarship. Grants and scholarships usually do not have …
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Thursday, December 29th, 2011
Requirements Include Grace Period and Active Repayment of Debt In order to be eligible for student loan debt consolidation, the student should no longer be enrolled in school and must be in the “grace period” of the loan. Or he should be in the process of actively repaying the loan, …
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Sunday, December 25th, 2011
When you consolidate your student loans, you are combining them into one loan. This has many benefits for you, including only 1 monthly payment rather than several to keep track of, and one low interest rate for the entire amount. Also, you can take longer to pay back the loan, …
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Saturday, December 24th, 2011
These credit cards, offered by most major credit card companies, provide a slightly different package of offers than mainstream credit cards. But the end result is the same – your student can use the cards for a wide variety of expenses and possibly even earn rewards or cash back bonuses. …
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