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How to clear college student loan debt

How to clear college student loan debt

Finance
The golden rule of college student loan debt is to never default. Although an unsecured debt, it is notoriously difficult to write off and defaulting on a student loan will leave fewer options. Income based repayment plans, forbearance and deferring repayment will no longer be possible. Repaying student loans at an affordable rate is the best option when disposable income is limited. It isn't in anyone's interest to see the borrower default so a number of different forms of assistance and guidance are now available. Income Based College Student Loan Debt Repayment Since the 1 July 2009, it is possible to cap each monthly student loan repayment at a more affordable rate. Hard-up college graduates are now able to pay just 15% of the amount of income they make that exceeds the federal p...
How to consolidate student loans: private and federal

How to consolidate student loans: private and federal

Finance
Lately, the National Postsecondary Student Aid Study shows that two-thirds of Bachelor’s degree students graduated with debt. The average debt reported was $23,186. A survey conducted by the National Association of Colleges and Employers found that only 19.7 percent of the college graduates were employed at the time of graduation. Experienced workers have flooded the market because of lay-offs, creating stiffer competition and decreasing entry-level compensation. Graduates with heavy student loan debt are finding that debt more difficult to repay. Why Consider Student Loan Consolidation? Loan consolidation, as with any financial decision, should be carefully considered with all the options fully weighed before making a decision. Once a consolidation loan is made, it cannot be rev...
How to Find the Best Auto Loans Available

How to Find the Best Auto Loans Available

Automobiles
In recent years, we have seen a steady incline in the use of public transportation and rideshare companies like Uber (with over 160,000 drivers). However, the need for Americans to own their own vehicle is still as strong as ever, with statistics showing that 91% of US households own at least one car. Out of that 91%, almost 85% of those cars were financed through a loan or a lease. When it comes to acquiring a loan, most people assume that you go to the dealership, pick out the car you want, and sit down with the dealer to negotiate your monthly payments and interest rate. In reality, that is one of the absolute worst ways to go about financing a new car! With the average dealership marking up costs at 2.5%, opting to go with a separate lender is a far better option. If you're l...
Four Situations That Do Not Necessarily Require Taking A Loan

Four Situations That Do Not Necessarily Require Taking A Loan

Business
  Believe it or not, there are particular moments in your life when you should think about whether taking a quick loan is a good option or not. Although it might seem like a perfect solution sometimes, however, certain situations may cause a much higher cost. Well, you may think this is some sort of anti-marketing strategy, but that is certainly not the case here. Here at Mr Lender we are committed to flexible short-term loans as well as taking care of our customers. The excellent offers and services we provide are undoubtedly the proof that we are just trying to help consumers. A quick loan for a friend You have probably experienced a situation where a friend of yours has asked you to lend them some money. But what if they ask you to apply for a loan? It is up to you to d...