Can I repay all my subsidized loan at once?
Question by Sayyem: Can I repay all my subsidized loan at once?
Let’s say that the repayment period starts, but I have enough money to repay all my loan at once. If I follow the repayment plan, they would get more money out of me at the end because of interest. So, repaying all my loan at once would cost me less. But the question is would I be able to do that or not?
Best answer:
Answer by dawncs
You should do it if you have the cash or the savings. If you have to take another loan, it would be a bad idea if it was not a tax deduction such as a credit card or a personal loan. You could make extra payments to your student loan no matter what to decrease the amount of it if you had the cash or not. The only problem is that if you start saving for it while in college that it could be held against you the next year when you complete the FAFSA form. Your income and savings counts at a higher rate than your parents in the formula used to grant financial aid.
What do you think? Answer below!
Categories: Loan Questions Tags: loan, Once, repay, subsidized
Q&A: How would an auto loan work if you wanted to be financed through your bank and not the car dealer?
Question by SimplyHappy: How would an auto loan work if you wanted to be financed through your bank and not the car dealer?
Would I have to get the bank loan first then pay the dealer?
Best answer:
Answer by Jay P
You have the right to have a car financed through whatever bank you chose. It is always a good idea to find the lowest rate you can find and then go to the dealer. The dealer may be able to beat that rate but you never know. Should you go with another bank, they will either cut a check directly to the dealer or write you a check. Either way works fine.
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Q&A: I have bad credit and am looking for an installment loan to pay off payday loans?
Question by : I have bad credit and am looking for an installment loan to pay off payday loans?
I need Canadian companies only, preferably Ontario
Best answer:
Answer by My Take on It
You are not going to get an installment loan to pay off payday loans if you have bad credit.
In fact, you had to get payday loans because that was the only type of loan you could get due to your credit then..and now you cannot even pay the payday loans, and your credit is still bad. If you couldn’t get a *normal* loan back then, you sure won’t be getting one now.
Give your answer to this question below!
Categories: Loan Questions Tags: Credit, Installment, loan, loans, looking, Payday
Q&A: What are my chances of getting a personal loan?
Question by axr: What are my chances of getting a personal loan?
Hi, I am a non-us resident with an H-1B, with no debt right now making 60K a year renting an apartment with a 93 toyota car. I am able to save $ 1500 a month. I would like to apply for a personal loan of about $ 25000 to repay a loan I took back in my country where is interest rate is extremely high and I am wondering what you guys think about my chances.
Question two would be is there any not-for-protfit agencies that can help me with choosing the best loan. PReferably it is not online.
Third question is can I get a car loan and then not buy a car and use it for other purposes?
Thanks
Best answer:
Answer by pepper
Well, I’ll start with the 3rd question. No, you cannot get a car loan and use it for other purposes.
If you are saving $ 1,500 per month and you have this money in a bank money market account – you should have no trouble securing a loan from the financial institution with which you do business if you are a stable employee with a verifiable income.
Do you own your home? How long have you been at your current residence? Have you even approached your bank? Are you contractually bound to your employer? Are you here with a work visa? What is your country? Can the bank verify your loan information?
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Categories: Loan Questions Tags: Chances, Getting, loan, Personal
How to prove paid personal loan on paper?
Question by Mark Edge: How to prove paid personal loan on paper?
Hello. I took out a personal loan with a friend and will be repaying it in full. How do I have prove that i paid it for the courts? A promisory note seems to be only for the issue of a loan, not the actual repayment is done.
Best answer:
Answer by Grandview Investigations
Just as you wrote a contract for the loan, you can also write a paper for the satisfaction of the loan or record payments as the case may be. If you are paying in full, just write something like this:
On (state date) the loan made on (state date loan was given) between (state his name) and (state your name) was paid back in full in the amount of (state amount paid)
Have both of you sign it and to be sure, have a witness also include their name on this same paper.
You should be fine and this will be satisfactory for any court if by chance you are sued for this amount.
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Q&A: Can I borrow a small loan from a credit place where I have a car payment with?
Question by Jo-Jo: Can I borrow a small loan from a credit place where I have a car payment with?
In other words, I have a car and right now I had it financel from a place called Pioneer credit. I was thinking since I already had payments with them that maybe I can get small loan for christmas. Would they be able to give me a loan like that and would they be able to just add that amount I borrow on top of the total balance of my car payment?
Best answer:
Answer by SPIFIMAN1
Auto finance is what I do for a living and that is going to be totally up to your lender to decide.
But as long as you have had the loan long enough, have a good payment history, budget for the higher payment and most importantly have some equity in your vehicle, your chances are very good.
Give your answer to this question below!
Home Loan Repayment Calculator
If you are planning to establish or acquire a good credit rating, you should be able to pay your outstanding short and long term loans without any delay. By doing this you are able to show lenders that you are able to deal with the credit agreements without any faults or compromises. If payments are made on time and are completed within the agreed time frame, borrowers are then rewarded by lenders with a good credit score. Almost all people know that a good credit rating can easily attract the lowest interest rates and this can be carried over when going for the lowest auto loan rates.
Lots of payment schemes are being offered by banks at the different terms and interest rates.
Affordable auto loan payments are available in the banking scene but one must be keen to find the right lending company that suits a person’s loan preferences. Many lending establishments offer simple application that is coupled with quick and easy approval. The internet provides many auto loan payment calculator that give applicants an accurate estimate as to how much amount they could qualify for , including the amount of monthly reimbursements they must pay.
Customers can be assured that they are treated to a low price guarantee on all items, while not discriminating clients in terms of credit status and credit scores. Clients are also given the chance to choose their payment terms that range from 6, 12, 18 and as long as 24 months. This option comes with a diverse choice of paying every month or twice a month. Discounts are also given as well as many benefits and services.
Home equity loans that come from poor credit can still be attainable despite having a very low credit score. This is due to the fact that these kinds of loans are considered to be secured loans. This is somewhat being translated to your loan being tied with the equity of your home. The bank is just giving you the money that is already trapped and included in the equity of your home. This translates to being able to get a bad credit equity loans without much difficulties.
Categories: Loan Articles Tags: Calculator, home, loan, Repayment
How To Get A Business Loan
Starting a business is like taking care of a growing child. You watch it come out to this world and be seen by the people. You guide it every single day making sure that nothing goes wrong. You witness it taking small steps until it can walk all alone. You assure safety and security just so nobody can take it away from you. Therefore an entrepreneurs very own baby is the business that he carefully runs.
Watch this video if you know you’re one of these people, and you might get the help you have been wanting to get.
Categories: Loan Videos Tags: Business, business loans, loan
Q&A: What type of contract is a personal loan where installment payments are made monthly?
Question by skye_12299: What type of contract is a personal loan where installment payments are made monthly?
I live in the state of Ohio and I am trying to figure out if the personal loan I signed for through a financial institution is considered written contract, written account, or promissory. I made monthly installment payments.
Best answer:
Answer by wilderwriter
It is often called a “promissory note” but it is also a “written contract” (as apposed to a oral contract). I have never heard of a “written account” other than in the sense of a story “written down” not as a kind of financial instrument.
Add your own answer in the comments!
Categories: Loan Questions Tags: Contract, Installment, loan, Made, Monthly, payments, Personal, type