Being a student is not always easy. Financing your education is difficult but necessary. Rising tuitions have made student loans the only recourse open to many students for paying their college education.
Before getting a student loan, you should look into all the financial aids and resources that are available to you.
> the UKgovernment,
> the college you attend
> private loan organizations.
All these solutions help you to finance part or all of your studies.
A private student loan is a good option when you need the money but you don’t have any income yet. By its nature, a student loan is different from other kinds of loans:
> The interest rates are lower
> The repayment schedule is clear and generally begins 6 to 12 months after the end of college
> The loan can be used to pay off education-related expenses, such as college tuition, room and board at the university or textbooks.
With Comparelend, it’s simple to compare student loan offers and get a fast answer.
To be eligible for a student loan, you need to meet the following criteria:
> Be a UK citizen or permanent resident
> Be 18 or older
> Be accepted into an undergraduate or graduate degree program
Like car loans, mortgages and credit cards, private student loans are granted based on a general risk assessment of one's ability to pay back the loan.
Student loan offers are based more on your profile than on income. Companies give the loan to the "person you will be” after college.
This is why they are taking your profile and studies as a big criteria to fix your rate and make you an offer.
Here is the list of documents to provide with your student loan request:
> Copy of your ID
> Acceptance letter from your college or copy of your registration forms
> Income information
> Credit score
Getting a studen loan with banks can be really difficult and long. Getting an appointment with your advisor to ask for the loan can take days. The whole process before getting your money is generally between 15 to 30 days.
With Online lenders, it’s easier and faster to make your mortgage loan request and get your student loan interest rate. You can make your request from home at any time, any day, upload all the required documents and get an answer in 24 to 48 hours. It generally takes just 5 to 10 days to complete your student loan application and get the funds.
If you own a small business, you probably know how complicated it is to get a business loan through traditional circuits. Through peer to peer lending however, some barrier to entry are suppressed. First of all, the requirements are lower investors being open to risk taking, and so securing a loan is easier, faster and cheaper. The process being entirely on line and very user friendly, it takes not more than 20 minutes to register on the platform, approximatively 48 hours to get accepted, and up to 3 weeks to receive the money. The interest rates are lower and usually no hidden fees added. Moreover, the online investors are welcoming for new borrowers as they are rather eager to support business owners, often locally.
CompareLend.com offers business owners a free, unbiased and immediate access to investors on peer-to-peer platforms. It helps business owners to choose the best financing opportunity from what the market has to offer. Getting financed is then easier, cheaper and faster.