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 U.S. federal government,
> the state where you live
> 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 credit history. 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 US 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.
This risk is calculated depending on:
> your credit score
> your credit history
> your studies and the diploma you will receive
Student loan offers are based more on your profile than on your credit score/history. 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.
Checking your eligibility for a student loan will not affect your credit score.
Here is the list of documents to provide with your student loan request:
> Copy of your ID
> Social Security Number
> Acceptance letter from your college or copy of your registration forms
> Income information
> Credit score
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.