Rates on two major federal education-loan programs will not rise significantly this year, welcome news for students and parents needing help funding college tuition. Starting July 1, interest rates for older Stafford and PLUS loans will rise 0.08 percentage points. For borrowers of the need-based Stafford loans who are still in school, interest rates will rise to 6.62 percent, while PLUS loan rates will rise to 8.02 percent, according to student-loan provider Sallie Mae.

For those who have already begun paying back their Stafford loans, the interest rate will be 7.22 percent.

The rate changes are small, but parents can save some money by consolidating PLUS loans before July 1, Sallie Mae noted. (more…)

You have your heart set on buying that brand new Chevy sedan, it’s time for you to think about your finances! The main issue here is getting a cheap car loan rate quote that can make driving that car a more enjoyable experience. Auto Loans With A Bad Credit History While you are on the lookout for a car, try to do an extensive research on the car loans available in your city. However, before applying for what you think is the best auto loan, look out for your credit ratings.

If you are planning to buy a car and have a bad credit rating, you are in for tough times! Anything below 600 can spell trouble for you! Yes, a bad credit rating can mean HIGH interest rates and low amount approvals. All the time that you spent on loan research will go down the drain. You would not want your poor credit ratings to interfere with your dreams, would you? So, go ahead, look around for a company that offers “poor credit auto loans”. (more…)

From saving money to improving your credit score, there are many benefits to consolidating student loans. Here are the top ten reasons why you should streamline these debts. 1. Lock in a low interest rate. By consolidating your Federal student loans before June 30th of this year, you can take advantage of the current low interest rate of 4.7 percent. As well, you will secure this interest rate for the life of the loan, so you won’t have to worry about a rate increase.

2. Peace of mind. Have you had sleepless nights worrying about whether or not you can afford to pay your bills? By consolidating your student loans, you can save up to 60% on monthly payments. (more…)

Bad financial management and bacteria have one thing in common: they flourish and mutate upon discovery. As soon as you realize you have committed bad money management, your error transforms itself into something else that looks too good to resist.

So how do you prevent yourself from making the worst money mistakes possible in this lifetime? Know your enemies! Study the worst possible money moves you can make. This way, you can recognize bad money management when you see it, even if it sports a striped tie and a toothy smile.

1. Never buy too much house. Know that mortgage lenders will not always give you advice that serve your best financial interests. In fact, many mortgage lenders might even push you to buy too much house. Too much house refers to a home that is more than what you need, or could reasonably pay for. (more…)

A direct student loan consolidation may be an excellent choice for you and your situation. Ask yourself a few questions, gather all your statements and consider the fact that this may be a new beginning to getting your student loans paid off. Many students may put off consolidating their student loans; however they may find out that it is very simple and can put extra money in their pockets.

What Is Right for You?

Ask yourself the follow questions and then you can decide if a direct student loan consolidation is right for you. Are you having trouble with your monthly payments? Are you finding yourself in a default status or want to avoid one? These are important questions to ask yourself and be honest because honesty is the only way that you will know if a direct student loan consolidation is right for you. If your monthly payments are driving you crazy, then this may be an excellent opportunity for you to apply for a direct student loan consolidation. (more…)

There are many loan options open to those who want to refinance their current home loans. You may find yourself faced with the option of an ARM (adjustable rate mortgage) or a fixed rate loan. Which type you will choose depends on your personal sitation and the expectations you have for your refinanced mortgage.

A fixed interest rate mortgage is just what it sounds like. This type of home loan has a set, unchanging interest rate for the entire term of the loan. Should you refinance your loan over a term of thirty years, the interest rates will not fluctuate over that thirty years unless you once again refinance. Other fixed rate mortgages may run for only a set number of years (perhaps one to ten years). After this, they become adjustable rate mortgages. (more…)

By: Ajeet Khurana We talk about the term “remortgage” when wanting to refinance one’s home. The method of remortgage involves a certain process that will replace your existing mortgage with a new mortgage from an alternate financing company. The new lender will pay your existing mortgage to the original mortgager. You are then left with one mortgage which you pay to the new lender. There are many factors that might influence you into getting a remortgage.

Generally the reason that influences people to take out a remortgage is to save money. When you secure a new mortgage, you can often do so with a smaller interest rate than you will have on your existing mortgage. This will go a long way in effecting a reduction in your monthly payments. For the long term, getting a lower interest rate may also decrease the total amount you repay over the term of your loan. (more…)

Getting approved for an auto loan after bankruptcy is a lot easier than you might imagine. The very next day, after your bankruptcy is closed you can apply for an auto loan. After bankruptcy an auto loan is one of the most obtainable loans since the bank can use the car as collateral against the loan.

The smart thing to do is find a lender you can trust with auto loans after bankruptcy. You should be improving your credit while searching for the right lender. Not all the lenders for auto loans after bankruptcy have the same criteria.They all however want you to be discharged. Usually they request a minimum salary from you. (more…)