Tag Archives: education
Loan against property- an assured way of arranging finances
A lot of things might cross your mind when you think about starting a new business, sending your child overseas for further education or may be while planning a wedding. Arranging for finance is surely the first factor to think about. A lot of investment is required if you wish to begin a business, arrange a wedding or allow your child to study abroad. The Home Loan companies and banks are already well known for their support they offer to the home buyers. As personal loan has turned out to be a very common way of arranging money, Loan Against Property is proving to be a better alternative. There are so many factors to cheer about with a loan against property.
Features that matter
Today people have become aware of making the most of their property when they have to arrange finances for fulfilling some other dreams or to suit the situation.
A loan against property can be taken for any purpose like for arranging a wedding, to meet marriage or wedding expenses or even to meet abroad education dreams of children.
Residential property or a non-residential property which is fully constructed can be used to avail required finances.
With fixed and flexible rate options, the applicant has a flexibility to choose a suitable policy.
Loan against property can also be taken if you wish to arrange finances for expanding your personal business.
Generally 40% to 60% of the market value of the property can be received as a loan against property.
Features like repayment on the basis of EMI and a period of 15 years, make this kind of loan a popular choice.
It is definitely a secured way of availing a loan by utilizing the property as a security.
Applying for such a Home Mortgage Loan is simple, hassle-free and relatively non-bulky as there is no need to follow too much documentation.
There is no chance of the policy being rejected or disapproved as the property is kept as a security.
Loan against property is tagged as one of the economical retail loans just after the home loans. With lower interest rates, the LAP connected monthly installments are relatively cheaper. It is a popular secured loan in which the property value and individuals income determines the eligibility of maximum loan. Today when people are willing to raise money for fulfilling their further dreams, the option of loan against property from the banks and loan companies is doing the trick for them. Furthermore with advancements and growth of online marketplace, applying for such an option is very simple these days. Not just for funding future education of your child or arranging for a wedding, the loan against property is now used by individuals even for funding any bigger medical treatments. Simply put, it is surely a multi-purpose funding option with lots of merits!
College Student Loans
A Helping Hand: College Student Loans
College students come in different shapes, sizes and backgrounds. There are those who have rich or well-to-do parents who pay for their childrens education. Some already live away from their parents and pay for their education themselves. Some others though, arent fortunate enough to have this financial capability but are very eager to continue their college education. But college tuition fees are huge investments which require large sums to be paid regularly. How can a financially handicapped individual cope with this?
Fortunately, there are a lot of colleges which offer college student loans to help out these individuals. College student loans are loans offered to students to assist in payment of the costs of professional education. Unlike scholarships, a college student loan is a form of financial aid that must be repaid, with interest, but usually has lower interest rates than other loans and are also usually issued by the government.
A good example of a government issued college student loan is the Canadian Student Loan. Canadian students are normally eligible for loans provided by the federal government, in addition to loans provided by their province of residence. But in this case, canadian college student loans are normally interest-free until one graduates, and are sometimes supplemented with grants, depending on need. Students who wish to apply for the Canadian and provincial college student loans must do so through their province of residence. The province of residence is normally the province where you lived before you were a student.
In the United States, the Federal financial aid programs offer students a lot of options regarding college student loans. Federal education college student loan programs provide lower interest rates and more flexible repayment plans than most consumer loans, making them a viable way to finance college education. The largest and most familiar federal student aid programs are:
Federal Pell Grants: Pell Grants are only awarded to undergraduate students who have not earned a bachelor’s or professional degree. Pell Grant college student loan applicants must submit a Free Application for Federal Student Aid. Awards depend on program funding. Each student can receive only one Pell Grant in an award year.
Federal Supplemental Educational Opportunity Grants: This college student loan program provides grants to undergraduates with exceptional financial need (students with the lowest expected family contributions) and gives priority to students who receive federal Pell Grants. Students are automatically considered when they submit a Free Application for Federal Student Aid.
Federal Stafford Loans: Stafford college student loans are low-interest loans available to undergraduate and graduate students enrolled at least half-time, without regard to financial need. Students are allowed to borrow money for educational expenses directly from commercial lenders such as banks, credit unions, savings and loan associations, and other lending institutions, or, for colleges participating in the Federal Direct Student Loan Program, from the U.S. government.
Federal Parent Loan for Undergraduate Students Loans: This college student loan program allows parents of undergraduate students to borrow up to the full cost of their children’s education, less any other financial aid for which the student is eligible.
Federal Perkins Loans : Another low-interest fixed rate college student loan for undergraduate and graduate students with exceptional financial need. These loans also offer generous repayment conditions. One doesn’t have to start repaying the loan, or interest on the loan, until schooling is finished or dropped below half-time status. A 9-month grace period is also given before the start of repayments.
Federal Work-Study Program : A college student loan that provides jobs for undergraduate and graduate students with demonstrated need who are enrolled on at least a half-time basis. Students are generally paid at least the prevailing federal minimum wage and may work as many as 40 hours a week.
In other countries, similar college student loan programs are also carried out in order to entice people to get into college.