Tag Archives: financial aid

Payday Cash Advance- financial help in advance

Sometimes, money needs come up far before your payday. There are needs like urgent family expenses, sudden medical bills or car repairing etc, which want an immediate dose of finance. So, when you need some urgent cash to meet these urgent needs and don’t have a good saving in pocket, opt for payday cash advance. It saves you from urgent financial crunch and offers grants for some unexpected expenses.

The finance which is offered ranges from £ 100 to £ 1500, while tenure of repayment varies from 2 to 4 weeks. The repayment date usually gets scheduled on payday of the borrower. Herein, the interest rates can be a little high as the grants are offered for a short span of time.

Moreover, the financial aid is also available for the bad credit holders, since it is advanced without any credit check. People having bad credit problems such as, arrears, late payments, Country Court Judgments, IVA, payments defaults, insolvency, etc, can conveniently avail the financial help. Interest rates for people holding bad credit history are comparatively high. This is because of the bad or poor credit record

In order to avail the financial aid, one has to fulfill some requirements such as:

• One shall be a UK citizen
• One shall be employed at least for 6 months
• One shall have a valid checking bank account.
• One shall be living on a particular address for at least past 3 months
• One shall be at least 18 years of age

In order to apply for the financial aid, one can visit a financial institution or, can apply online. The competition is very high among loan providers in the market. So, one can bargain well before availing the grants. Availability online, clubbed with financial help make the payday cash advance, a great aid for people in urgent cash need.

Payday cash advance is a short term venture and is provided to both good and bad creditors. It helps one tackle the urgent fiscal need.

A Look Back At Student Loans

Today student loans are almost a given for college kids heading off to school. Few parents have the financial resources to pay all of the tuition for their children, and so most students fill out a FAFSA and apply for loans. This has not always been the case, however. Student loans are quite a modern invention.

The first recorded student loan program was developed by Harvard University in 1840. These early student loans were private loans that were not funded by the government. In 1935 the state of Indiana’s General Assembly passed a law that provided student aid to students who had high test scores on their college entrance exams. This led to the formation of the Indiana State Financial Aid Association, or ISFAA, which was followed by the opening of the first Financial Aid office in Indiana University. Soon other colleges joined the ISFAA, and Indiana students had a new way to pay for school.

On October 4, 1957, Russia launched the first successful satellite into space. This had a huge impact on the history of financial aid in America, because the American government suddenly realized that they were in a race to put the first person in space. They realized that they only way to succeed in this race was to ensure that as many high school graduates as possible attended college, a feat which was out of the financial resources of many. With guidance from the ISFAA, the federal government created a working financial aid program.

After World War II, Congress passed the National Defense Education Act. This act introduced the Perkins Loan, a low-interest student loan that is provided to low-income students and has a 10-year repayment period. This was the first federally backed student loan, and more would soon follow. In 1963 the Health Education Assistance Act provided loans for students pursuing degrees in medical and health fields. This was followed by what is now known as the Federal Work-Study Program, a program that allows the federal government to pay the wages of working students.

By the end of 1965, Most of the student loan programs we use today, such as the Stafford Loan, Work-Study Program, and Perkins Loan, were in place. As the cost of education continued to rise, the government introduced the Parent’s PLUS loan program in 1981, a program that allowed higher-income families to get assistance in paying for school. Today, these loan programs allow many students to pursue an education when they would otherwise be unable to, making them a valuable resource to our country as we strive to continue as a global leader.