| RPT-Fitch: Limited impact via Senate deal on student loan rates
Jul 12th 2013, 05:41
Fri Jul 12, 2013 8:37am EDT
July 12 (Reuters) - (The following statement was released by the rating agency)Wednesday's Senate agreement regarding Federal Student loan rates is a positive development for student loan borrowers. However, Fitch Ratings believes the deal will have a limited impact on the competitive landscape and overall demand for student loans. Fitch expects student borrowers will continue to rely on federal student loans (up to the maximum amount allowed) given their more attractive terms versus private loans, despite a potential move to market-based rates. Therefore, we would not expect the Senate's proposal to have a material impact on the overall demand for private student loans. In fact, total private student originations grew roughly 3% in the 2011-12 academic year, despite even lower interest rates on federal student loans and more stringent underwriting standards at private lenders.Student loans remain a hot topic in Washington and the recent legislative gridlock surrounding interest rates on these loans is just another example of the continued interest among lawmakers in the market. Another topic of discussion relates to potential legislation that would change the dischargeability of private student loan debt. We do not expect final resolution on this topic in the near-term. However, even if it were implemented longer-term, Fitch believes the impact to private lenders could be partially offset by grandfathering existing loans and re-pricing new loans to account for the additional risk. On July 10 the U.S. Senate reached an agreement which would link interest rates on federal student loans to prevailing market rates, specifically the 10-year U.S. Treasury yield. Although borrowing rates would vary from year to year, they would remain fixed for the life of the loan. The agreement also includes an interest rate cap (8.25% for undergraduates and 9.25% for graduate students), to protect borrowers if interest rates rise significantly. Student loan interest rates recently doubled to 6.8% from 3.4% as lawmakers were unable to come to terms on an agreement prior to a July 1 deadline. However, the Senate proposal would be retroactive, enabling students who applied for loans after July 1 to benefit from the new rates. Although a vote has not yet been scheduled, Fitch expects the deal will eventually pass the Senate, be approved by the Republican-controlled House and signed by the White House. Our view is supported by the fact that the current agreement has bipartisan support as well as our belief that lawmakers may feel more compelled to compromise given that the July 1 deadline has already passed.
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| Bad Credit Personal Loans Guaranteed Approval Available Via Latest Web Technology
Jul 11th 2013, 08:08
NEW YORK, July 11, 2013 /PRNewswire-iReach/ -- LoansForBadCredit24.com introduces newer and more powerful search and sorting technologies to help borrowers find lenders that give bad credit loans guaranteed approval. Using responsive infrastructure with user-friendly interface, the website covers more lending companies' offerings and at a faster turnaround. People in financial emergencies now have a higher chance of finding creditors that give bad credit personal loans guaranteed approval. They can apply here.
The website takes advantage of recent advances and standardization in web and mobile platforms to allow for more intuitive search performance that matches user queries. People who need fast cash to cover for budget gaps or consolidate their running debts stand to benefit. With more loan options and payment terms that they can cover via the website, borrowers are more likely to match their financial means and debt background with agencies that give bad credit personal loans guaranteed approval. "Our latest algorithms can understand what the user is really asking based on his query and the basic information he submits," said Julia, the company spokesperson. "User data are not only sorted by individual words, but how they are combined and used is put into context." The intuitive approach, versus the word-for-word analysis, Julia said, stands to benefit most people with poor credit score. "Lenders who give bad credit personal loans guaranteed approval are just out there," she added. "The key is finding them and we help people find them. It's even possible now to get bad credit personal loans guaranteed approval in less than an hour." The technologies aside, client services is at the core of LoansForBadCredit24.com's goal to help people who are desperate for loans get their cash. Qualified customer service agents are on standby to answer further questions to help people find lenders that give guaranteed approval personal loans. With responsive technologies and reliable customer service within their reach, people in financial dire straits can save more time and get approval at the soonest time, including reaching out to agencies that ensure bad credit payday loans guaranteed approval. Furthermore, the latest system also helps the company to sort the performing lenders who deliver fair loan packages from inefficient and abusive lenders. The result is a higher chance for people to get fast guaranteed approval loans. Online processing is fast and simple. Click here to start your free loan application. Media Contact: Adrian Howard, LoansForBadCredit24.com, +48502337284, howardadrian@yahoo.com News distributed by PR Newswire iReach: https://ireach.prnewswire.com |
| CashLoansCorner Informs All About Personal Loans
Jul 10th 2013, 23:43
 cashloanscorner is the most trusted site followed by many people from all across the globe. The site offers valid information about the various types of personal loans available in the business. Not just this the site CashLoansCorner has tied up with more than 100 private lenders that are trustworthy and offer people with immediate financial help. The rate of interest charged by these lenders is very reasonable. Borrowing money for personal usage is considered as the most difficult situation for obtaining a financial help for. At CashLoansCorner people can read and understand all about personal loans in detail. The official spokesperson of the website added, "We at CashLoansCorner have a list of the most trustworthy and fastest private lenders that offer instant personal loans. We even guide people about the loan application procedure for the personal loans. At CashLoansCorner people can be assured to find guaranteed information and learn all about personal loans. We even suggest a few tips for handling the personal finances on our website concluded the spokesperson." Personal loans are the best way to deal with the immediate personal need of cash. Medical expenses, paying taxes and more can be easily dealt with the help of personal loans. Where to read all about personal loans? How to know more about the private lenders that offer instant cash loans? Learn further about it on the website CashLoansCorner. About CashLoansCorner CashLoansCorner.com is a website that helps people in financial crisis gets the payday loan through the wide network of nationwide approved lenders. The website is run by loan experts and it allows loan seekers to meet the most appropriate lenders in their area. For more information about CashLoansCorner contact Mary Smith at 1-888-774-4956 or support@cashloanscorner.com , CashLoansCorner; 3422 SW 15 Street, Suite #5217, Deerfield Beach, FL 33442 |
| Personal Loans for People with Poor Credit Now Become More Accessible Nationwide
Jul 10th 2013, 11:02
NEW YORK, July 10, 2013 /PRNewswire-iReach/ -- ForPeopleWithBadCredit.net announces that it is covering more states to offer poor credit loans to more Americans who need financial assistance for their immediate needs. More lenders have expressed interest to join the company's growing network as the U.S. economy improves. "With more Americans able to meet their credit today as they move out of unemployment and welfare dependence, we feel the need to extend more personal loans for people with poor credit as a way to help them get back their footing," a company representative said. These people can apply here.
By pursuing more local, national and even international lenders, the company is confident applicants will have a slew of better options at their fingertips. From interest rates and processing turnaround to payment terms, the website offers a wide array of personal loans for poor credit by utilizing newer web platforms and search technologies and combining them with aggressive offsite networking. Applicants around the country are likely to get faster assessment and, hopefully, approval given the increasing competitiveness among creditors offering loans for people with poor credit. Despite the aggressive expansion, the ForPeopleWithBadCredit.net assures that stringent criteria are followed to shortlist only qualified lending companies with a solid background. Through ForPeopleWithBadCredit.net, it is even easier now to get personal loans for people with poor credit in less than an hour. Quote requests on loans for people with poor credit are expected to churn out updated and credible answers. Once basic and required personal and financial information is received, the website's system can process the application in seconds rather than minutes. Within the day, approved applicants will receive their loan via bank transfer. ForPeopleWithBadCredit.net also offers car, home, business and various other loans. Company officials said that the website often acts as a last resort to get unsecured loans or applicants who have been turned away elsewhere. The key, they said, is the ability to scour more options and offer the best-fitting personal loans for people with poor credit. As the company expands from east to west coast, more Americans stand to benefit as personal loans for people with poor credit are within their reach now. Click here to start your free loan application Media Contact: Adria Howard, ForPeopleWithBadCredit.net, +48502337284, howardadrian@yahoo.com News distributed by PR Newswire iReach: https://ireach.prnewswire.com |
| Oneloansource Lends a Helping Hand to People in Need of Unsecured Personal Loans
Jul 10th 2013, 10:21
Lewes, DE -- (SBWIRE) -- 07/10/2013 -- People in requirement of unsecured personal loans can obtain help from Oneloansource. This online service provider is based in Lewes, Delaware, and it matches the loan requirements of customers with their list of trusted money lenders. Matching of loans with money lenders is carried out based on the needs of customers as well as their financial status.
When an application is made for unsecured personal loans, the Oneloansource system carries out the match without pulling out the credit scores of customers. The loan application can be made in three easy steps. A brief and simple form on the website has to be filled out first. Any follow-up details, if requested, are to be provided. Following this, the funds in the customer's account are verified. After this convenient process, the loan approval will be made as fast as within a single minute. The application process is free of charge and offers other added advantages. As stated by the online loan dealer, "Our process is free to use and does not hurt your credit score. Our focus is making sure that you do not have to apply to 10 different sites and end up killing your credit." With its vast experience of 10 years, the company has the expertise to determine the money lenders who can offer unsecured personal loans, which increases the chances of clients obtaining funds. Various lender fees and rates for different types of money lenders based on annual percentage rates (APRs) are also detailed on the website. These include short-term money lenders, payday lenders, peer-to-peer lenders, and traditional lenders. Security is a main concern while applying for unsecured personal loans. In particular, when information is passed through a website, appropriate measures are to be taken to guard personal data. All necessary steps are taken by Oneloansource in this regard, to protect private details of borrowers applying for unsecured personal loans. The Oneloansource system operates by following the best practices in website security for the protection of personal data. Detailed information with respect to disclosure and use of personal information is available at the company's website. More information with regard to unsecured personal loans can be found at the website of the company, https://www.oneloansource.com/apply-now. About Oneloansource Oneloansource is a one-of-a-kind loan-matching company. This online service provider is based in Lewes, Delaware. It has a rich experience of 10 years in the field. Their aim is to help people obtain loans from money lenders, based on the requirements and budget constraints. This is made possible through the vast network of multiple lenders that the company has at its disposal. Media Contact OneLoanSource.com 16192 Coastal Highway Lewes, DE 19958 888-580-3330 Email: info@oneloansource.com URL: https://www.oneloansource.com/apply-now/ |
| Should You Get a Personal Loan? Tips to Find a Cheap Unsecured Loan
Jul 7th 2013, 17:24
If you need money to meet basic expenses, fund your wedding or take a vacation, you've probably considered getting a personal loan – a loan where you don't put up any collateral, such as your house or your car, that the lender can repossess if you default. Because the lender has no guarantee for the loan other than your own reputation, you'll have a higher interest rate than you would with a collateralized loan.
Personal loans are rife with pitfalls. Used correctly, they can save a significant amount compared to payday loans, overdrafts and pawnshops. However, there are many unscrupulous lenders who may try to bleed you with fees and high interest rates. Here's how to find the best personal loans without paying too much. What's my credit score?Since you aren't putting up any collateral, the loan terms will be based on your creditworthiness – your credit history, your income and what other debts you have. Be sure to check your credit history and score for any inaccuracies before applying.Pro tip: If you don't know your credit score, check it for free by signing up for a credit monitoring service and cancelling during the grace period. If you have good credit, you can probably get a personal loan at a decent rate with your current bank. If you have less-than-perfect credit, don't be tempted by "no credit check" offers. Payday lenders often charge exorbitant rates and can often be avoided. Where should I get a personal loan?You can get personal loans from any number of institutions:
Another good option is peer-to-peer lending groups like LendingClub and Prosper. While the rates might be a bit higher than those at credit unions, you may find it easier to qualify. Remember that these companies are for-profit, compared to not-for-profit credit unions. If you're really in dire straights, consider a credit building nonprofit that will get your finances back on track. The Credit Builders Alliance can help you find a program in your state. Pretty much all personal loans require income verification (such as a W2 or pay stub) and identification (such as a passport or driver's license); some ask for bank statements or tax returns. Finding the lowest ratesHere are a few tips to finding the best loan.Compare your options. Is a personal loan cheaper than a low-interest credit card? If you have good credit and can pay off the loan in 12-18 months, you can probably get a credit card that has 0% interest on purchases for a year or longer. Take a look at credit unions, too, before going with banks. If you have bad credit, find a co-signer. Having a co-signer with good credit allows you to piggyback off of their creditworthiness and potentially get better rates. However, use this option only if you trust the co-signer completely, as any mismanagement goes on your record as well as his. Consider a secured loan instead. If you have a house, consider using it as collateral in order to get lower rates. A home equity loan or home equity line of credit can often be cheaper than a straight-up, unsecured personal loan. Keep in mind that using your home as collateral means that if you default, you could lose your home. Pay off as much of your credit card balance as you can before you apply. The outstanding balance on your credit card – even if you pay it off at the end of the month and never pay interest – counts against you when a lender runs a credit check. Borrower beware: What to watch out for with personal loansUnsecured lending can attract unsavory players, but even with the squeaky-cleanest of lenders, it pays to keep an eye out for gotchas.Prepayment penalties. When a lender tries to estimate how much money they'll make off your loan, they usually assume that you'll pay interest until a certain date. Paying off the loan too soon – and therefore limiting the interest you pay – screws up their calculations. In order to keep their numbers straight and pockets lined, some charge a fee for paying off the loan before a certain date. Such fees are called prepayment penalties or exit fees. Be sure to look for the words "no prepayment penalty" on your loan term when you apply. "Optional assistance" and other fees. If you grant the lender permission to withdraw from your checking account, they might take out so-called "optional" fees that you never heard of. The lender can automatically deduct them from your account, potentially causing your checking account balance to go negative. Accidental overdrafts. Again, if you link your loan to your checking account for automatic payments, you might be in danger of an overdraft. Overdraft fees can run $35 a pop, and they can quickly add up. It's harder to know that you have a low balance in your checking account if the lender deducts your payment behind the scenes. To avoid this, consider:
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