Student Loan

Sunday, January 25, 2009

Student Loans and Financial Aid Overview

Student Loan Network is one of the nation's fastest growing student loan providers and an expert resource of financial aid information. For more than ten years, we have helped undergraduate and graduate students and their families access federal and private student loans, free scholarships and consolidation funding. Please follow the links links below to learn more about each part of the student loan and financial aid process.FAFSA Financial Aid Application
Ensure that you have completed the appropriate FAFSA application. For free application advice and submission instruction, please visit FAFSA online - your guide to the Free Application for Federal Student Aid. FAFSA Financial Aid Forms are required for all federal student aid and are strongly recommended for all students.
Always start with the Stafford Loan as it typically offers the best rates and repayment options. Should you need additional funds to pay for college, additional options are a Private Student Loan and a PLUS Loan for Parents.

Student Auto Loan

Get a Free Student Auto Loan Quote!
Qualify for an auto loan online in minutes, even if you have credit problems. We have o ptions for borrowers with good credit, bad credit, or no credit and great low rates for borrowers with good credit.
Submit your loan request and personal information online securely. We'll find you the best deal by matching your request with our network of lenders. You'll be contacted directly by the lenders with free, no-obligation loan quotes. The final decision is up to you.

Saturday, January 24, 2009

How big is your monthly payment?

Student credit cards come in handy for emergencies as well as for many things that you'll probably regret later. If you're like most of us you're not exactly using cash to pay your way through college. With around $85 billion in new student loan debt projected this year you're definitely not alone. With the average graduate already owing $20,000 in student loans tacking on additional credit card debt- and payments, is the last thing you need.The American Bankruptcy Institute reveals that 20% of the people who filed for bankruptcy in 2007 were college students. That’s worth restating. Out of every 5 people declaring bankruptcy, one is a college student. If you’re carrying credit card debt you need to read this article. It may hurt a little now to get rid of your credit card debt but being credit card debt free later can be life-changing. There are no easy fixes but if you’re dedicated this plan is will help you.

Pay Your Debt More Often

You probably get the same spam every day that we do - "reduce your debt now with our service!", "get out of debt fast", etc. Well, we at StudentPlatinum.com decided to get in on the action and really research how all this debt calculation works. It's not a secret - in fact, by law the calculations which determine your interest and payments cannot be a secret, it's just somewhat unpleasant math.So, that said, here is the not-so-secret formula to reduce your debt faster - Pay your debt more often.Probably not the closely guarded formula you were looking for, but it's true. It works on the principle of average daily balance, the billing method most credit cards use to compute interest. The faster you reduce your average daily balance (ADB), the more you'll save in interest. Here's an example. Say you have a starting balance of $1,000 on a credit card with 15% APR. If you do nothing all month and pay $100 at the end of the month, your finance charge will be computed as such:

Review your Credit Report and Make Corrections

First get your credit report and your credit score to find out exactly where you stand. If you have recently been rejected for a loan or line of credit and have been told that your credit report was a contributing factor, you are entitled to a copy of the report from the lender that denied you. Ask for a copy so that you can see what’s going on. But for now, let’s assume that you have a copy of your credit report and you are less than thrilled with some of the information on it.Thoroughly comb through all of the information on the report and identify anything that you think is incorrect. This can include unfamiliar accounts, late payment indications, past due accounts, etc. You have the right to dispute any information in your credit report that is not correct! In fact, it’s Imperative that you do this immediately as the items are most likely a large contributing factor to your low FICO credit score! Your report should list instructions as to how to dispute data. If not, send a letter to the credit bureau who gave you the report detailing the inaccurate information.Repairing your credit begins with the correction of incorrect items on your credit report. Once you've obtained a copy (for free if you have been declined credit, otherwise you can improve your credit score through our credit reporting service for a nominal fee) of your credit report, review it for accuracy.Under the law, both the credit bureaus and the organization that provided the information to the credit bureaus, such as a bank or credit card company, have responsibilities for correcting inaccurate or incomplete information in your report. To protect all your rights under the law, contact both the credit bureaus and the information provider if you have a dispute.Tell the credit bureaus in writing what information you believe is inaccurate. Include copies (not originals) of documents that support your position. In addition to providing your complete name and address, your letter should clearly identify each item in your report you dispute, state the facts and explain why you dispute the information, and request deletion or correction. You may want to enclose a copy of your report with the items in question circled. Your letter may look something like the one below. Send your letter by certified mail, return receipt requested, so you can document what the credit bureaus received. Keep copies of your dispute letter and enclosures.

Thursday, January 22, 2009

How to Repair Your Credit - Repairing Your Credit

What can you do if your credit is currently less than stellar? Well, as you can imagine, there are many ways to handle bad credit and there will be no shortage of companies looking to sell you easy solutions to do it for you. Before you buy into any of them you should realize that there’s only one way to truly turn things around and that is with some soul searching, a little behavior modification, and a lot of hard work. Whether you work with an agency or not, some are good and others are crooks, everybody should try the following steps first.