Understand the Type Of Student Loan You Have

Posted by Admin on February 18, 2010
Filed under Credit repair | Comments (12)

As a student borrower, you have different rights and responsibilities when it comes to loans and who you have purchased it from. It could be a private loan or a federal loan but it is important for you to further understand the nuances even if it was a federal loan. You should be clear about the kind of program you have signed for.

Private or Alternative Loans


Alternative loans are often approached by students when they have exhausted the options of the more affordable, fixed interest and flexible payment options of Federal Loans.  These loans are actually for filling the gap of the savings and the federal loans put together.
Government do not regulate these alternate loans and precisely why they become more risky to borrow and also difficult to repay.

There are various types of private student loans and these have different rules and regulations. Interest fees are accrued from the time they are disbursed but it could also be a deferred repayment kind of program.

Low earning students with poor credit histories are generally susceptible to heavy interest rates. There is additional requirement of Co-signer in case of alternative student loans. Co-signers generally are relatives of the student who bear the responsibility of paying back the debt. As a rule private loans are to be used for post secondary education fees payments. You should check out what particulars are incorporated when it comes to these fees.

If you take out a private loan, you will not be entitled to the same forbearance, deferment and flexible payment options as you enjoy in case of a federal loan.

As of February 2010, special disclosures are required to be filled by the students aiming for private student loans. These disclosures guarantee that the students who are buying these loans clearly understand what they are getting into and are good for the parties entering into the contract.

To Know about it in depth Read more…

Contents of Credit Report

Posted by Admin on December 3, 2009
Filed under Policies | Comments (19)

The right question in understanding a credit score report is to ask what does it contain? Typically a credit report contains four sections namely[…]

Read more…

The CARD Act 2009

Posted by Admin on December 3, 2009
Filed under Policies | Comments (19)

Credit Card Accountability Responsibility And Disclosure Act of 2009.As a consumer it is essential to have clear understanding of rights and claim. This is a complete list of changes that came into effect starting 22nd February […]

Read more…

ASK A QUESTION AND GET ANSWER NOW

Posted by Admin on February 18, 2010
Filed under Uncategorized | Comments (12)

How much is good???

Posted by Admin on February 18, 2010
Filed under Uncategorized | Comments (12)

A question which everyone would like an answer for is whether their credit score is good enough or do they need to get it raised higher for better bargains.A credit score, whatever it might be, is never enough. You would need to have a much bigger […]

Read more…

Know Your Rights for Credit repair

Posted by Admin on February 18, 2010
Filed under Uncategorized | Comments (12)

being an informed consumer can make all the difference in case of credit repair and you need to be aware of all the laws and all your rights […]

Read more…