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How I finance my studies with a student loan

January 25, 2020 • admin

It is particularly difficult for students to get a loan because they are usually not in a permanent employment relationship and therefore cannot prove a regular income. But what to do if you do not receive a commany as a student and do not find the time to earn some money on the side with a part-time job. Parents cannot always help out either. However, there are credit institutions that offer student loans.

Student Loan: Idea and How It Works

Student Loan: Idea and How It Works

The student loan differs significantly from a conventional annuity loan. A certain loan amount is requested for the usual loans. If the loan amount has been approved by the bank, the borrower is paid this amount. He then pays a fixed credit installment over a contractually agreed term, usually monthly, until the loan amount has been repaid. The way it works for a student loan is different. Here a monthly payment is agreed over a certain period, for example $ 400 per month over a period of 3 years , which corresponds to the standard period of study of 6 semesters for a bachelor’s degree.

After the expiry of this term, most providers give a pause for repayment. Depending on the provider, this can be up to four years. After that, the loan repayment begins over a longer term (up to 20 years). Optionally, the repayment phase of the loan can be shortened at any time with extraordinary repayments of any amount. The basic idea of ​​this model is not to assess the current financial situation, but rather the future one that the borrower is likely to have after successfully completing his studies.

Credit for students

Credit for students

The question may now arise, why a student should opt for a loan model instead of the training subsidy, which only has to be repaid in part, where the entire amount plus interest is to be repaid. Quite simply: Not everyone who wants to study receives commany. On the one hand, training funding depends on the parents ‘salary (only in very few exceptional cases can a commany application be made that is treated independently of the parents’ income).

There is also an upper age limit. If someone decides to start studying after the age of 30, he is no longer eligible for funding from commany, with a few exceptional cases. In these cases, the student loan is not an alternative, but the only way to finance your own studies. For some commany recipients, the amount of the funding is not sufficient to support themselves.

Conditions of student loans

Conditions of student loans

The conditions differ depending on the provider. This affects both the interest rate, terms and special financing options. Due to the long terms up to 20 years, a difference of one percent in the long term results in considerable additional costs. Therefore, a comparison is very important. You should also pay attention to whether one-time payments for special occasions, such as a semester abroad, are included in the offer or whether the respective bank offers a break in payment before the loan repayment begins, so that you can gain a foothold in the working world. The advantage is that the interest rate remains the same over the entire term, which allows optimal financial planning.

The education loan of the Federal Republic

The education loan of the Federal Republic

This student loan is particularly low-interest and is designed for the last two years of study. A monthly amount of 100, 200 or 300 USD can be requested over 24 months, whereby a one-time payment of up to 3,600 USD is also possible. After four years, the repayment phase begins with installments of 120 USD per month.

Vacation loan comparison 2020

January 13, 2020 • admin

Reasons for and against a vacation loan

Reasons for and against a vacation loan

The honeymoon is supposed to be something very special, even in years the couple would like to remember the most beautiful days in life. No matter where you want to go, whether to Spain, Italy, Turkey or an exotic holiday destination, only a few newly married couples will be satisfied with a camping holiday at the quarry pond. But the wedding has already cost a lot of money, so there is hardly any room for honeymoon.

A similarly important turning point in life is the final entry into professional life – be it after training or after studying. Now would be time for a longer trip, once across America or Australia. The imagination knows no limits. But probably the wallet.
In this situation, there are two options: waiving the expensive trip or a vacation loan. A loan for a trip has to be repaid over a certain period of time, but the memory of a long and beautiful vacation is irreplaceable for people who love to travel. With a little thought and planning, there is nothing to be said against a vacation on credit, so that a big dream can come true.

Vacation credit – a consumer credit

Vacation credit - a consumer credit

The installment loan for a vacation does not differ in any way from a normal consumer loan, for example for the purchase of home furnishings. For the bank, every consumer loan means a higher risk compared to a mortgage for a property or a car loan. In these two cases, the house or car serve as collateral in the event that the loan cannot be repaid or cannot be repaid in full. The financing bank has access to the equivalent value of the house or car via an entry in the land register or by depositing the vehicle registration document if the debt cannot be paid. In the case of financing, the principle applies that the interest rate increases with the risk for the lender. This is why a consumer loan that is used as a travel loan is more expensive than a home or car loan – after the trip, the money is spent.

Pay vacation on installments – what should you pay attention to?

Pay vacation on installments - what should you pay attention to?

In the case of a loan, the focus should always be on whether the amount of the monthly charge for the repayment is within a reasonable range. Every borrower should answer this question honestly with a cool head. It does not matter whether the focus is on travel planning or whether the financial framework is defined first. Ultimately, the decisive factor is the moment in which the loan agreement is signed. At the latest, holidaymakers should be sure that they will be able to repay their holiday loan in the future without any problems.

Finance your vacation: loan amount and term

Finance your vacation: loan amount and term

Three sizes determine the amount of the monthly installment for a travel loan: the amount of the loan, the interest rate and the term. The higher the loan should be, the higher the monthly repayment will have to be – unless the term is extended significantly. It is obvious that a loan of 5,000 USD over a two-year term with the same interest rate results in a significantly higher monthly rate than a loan of 2,000 USD. The situation is different with a term of four years: the amount to be repaid is spread over 48 instead of just 24 months, so that the monthly installment for the loan of 5,000 USD drops significantly.

Nevertheless, the loan with a longer term is always more expensive than that with a shorter one, because with each month that the loan is paid off longer, the interest charge ultimately paid increases. In addition, if the repayment is low, the repaid part of the loan melts more slowly than if the repayment is high. Interest accrues only for the part of the loan that has not yet been repaid, which makes the long-term loan even more expensive than the loan with a shorter term. If there is sufficient discipline, a call credit can also be useful, which can be repaid with just one payment, for example from Christmas or holiday bonuses.

Who is a travel loan suitable for?

Who is a travel loan suitable for?

The desire for a complex and quite expensive trip can be fulfilled for many travel enthusiasts today. Some save for such a trip and already experience great anticipation when saving, others prefer to start today rather than tomorrow. Those who do not want to or cannot wait should take out the cheapest possible loan for the vacation and enjoy their vacation without regrets.

Vacation credit or vacation on installments with the tour operator?

Vacation credit or vacation on installments with the tour operator?

Many tour operators offer travel loans themselves, but they are relatively expensive. The interest on such loans is often in the double-digit percentage range and thus significantly higher than with other providers. Tour operators speculate with the convenience of travelers: everything from a single source may save time, but often costs a lot of money.
It is no problem today to obtain several consumer loan offers online. The tour operator only makes one offer, whereas on the free market many providers compete for the favor of the customer.

The right car loan for your dream car.

January 9, 2020 • admin

Credit check & Credit bureau information

Credit check & Credit bureau information

In Germany, the upcoming purchase of a car is the most common reason for applying for a loan. Automobile clubs and car dealers have also been offering car loans for a number of years, but no credit is approved without checking the creditworthiness. Legislators require German credit institutions to check the creditworthiness of consumers before granting credit (see § 509 BGB), so there is usually no way around Credit bureau. Some reputable banks from Germany advertise with

Credit bureau-free loans – however, without the legally required credit check, the car loan applied for is not approved here either, since the banks usually contact debtor registers or other public directories. These legal requirements for checking creditworthiness may be annoying in individual cases, but are intended to reduce the risk of a credit default for the bank and protect the customer from over-indebtedness.

However, the inquiry to Credit bureau & Co. is always only a part of the credit check, since the bank also checks the amount of income and the existence of other liabilities. Therefore, a bad Credit bureau entry is not always responsible for a negative decision from your house bank.

If you already pay off one or more other loans in installments and do not have negative entries with Credit bureau, the bank can still refuse the car loan applied for. This is the case if the bank fears over-indebtedness and thus a possible default of payment when comparing income and expenditure.

What is the Credit bureau?

What is the Credit bureau?

Credit bureau Holding AG, based in CreditInfo, is a credit reporting agency whose sole purpose is to provide third-party creditworthiness information to the relevant business partner.

It was founded in 1927 and claims to have collected data from around 5.3 million companies and 67.2 million natural persons. For well over 90 percent of the stored people, Credit bureau only makes positive data entries regarding payment behavior, which in most cases come from banks and other companies as well as from public debt registers.

When Credit bureau receives an inquiry about a customer’s creditworthiness, it usually passes on the relevant information as a score. This is a value, which can range from 1 to 100, and assesses the probability of the loan being repaid. For example, a low value indicates a high risk of the probability of failure.

Saved negative characteristics are also relevant for the requesting credit institution or company, since these often occur when credit installments are not paid. However, if you have already received a dunning notice or if there have been problems with payment in installments in the past, this does not necessarily lead to problems with a conventional car loan. Not all entries at

Credit bureau have a major negative impact on your creditworthiness. If you are unsure whether you have a bad credit rating with Credit bureau, an inquiry can help. Credit bureau undertakes to be transparent about the data stored about itself and will also provide you with proof of creditworthiness if necessary.

Once a year you can request a free self-assessment from Credit bureau, so you always have an overview of the stored information. In addition, you can object to demonstrable incorrect entries and request a correction. Credit bureau is the largest credit reporting agency in Germany.

A quick secretive and discreet small-loan

December 28, 2019 • admin

Trust the real specialists!

Trust the real specialists!

Lite lender credit ​​is a Canadian company working in the financial services sector. For more than ten years, we have constantly innovated in order to offer our customers alternative credit solutions to those of large financial institutions. Our range of financial products allows you to acquire greater financial autonomy, without any hassle.

We understand that no one is immune from a precarious financial situation, and our solutions are adapted according to this reality. Our services are completely confidential and secure. We are one of the only small-loan firms to follow the security standards of the payment industry.

Your satisfaction is at the heart of our priorities. We offer transactions with no surprises or hidden fees. Our interest rates are competitive for the service offered. It is important to understand that the costs associated with a small-loan are greater, since they are amortized over a smaller amount. Lite lender credit ​​strives to keep costs as low as possible, in order to offer you the most advantageous loans in the industry.

We are at your service for your small-loan needs

We are at your service for your small-loan needs

Our team of small-loan specialists is available to assist you in your transactions. a small-loan varying between $ 500 and $ 1,000, to obtain a rechargeable to assist you in the cashing of your checks or to help you obtain a car loan, we have a solution for you.

Our secure web platforms are user-friendly and help you make fast transactions in complete confidentiality. No harmful request will be made after credit bureaus. Our analysis is based on the information you have provided to us.

Lite lender credit ​​offers you one of the most complete web portals in the industry. You will have access to your financial data in real time. With the help of a simple connection, you will be able to consult your loan balance, consult your future payments, and postpone payment if necessary. From your account, you will also be able to access all of Yamaska’s services

In addition to our financial services, Lite lender credit ​​offers you a credit recovery program. A unique service that can help you get more conventional loans with better interest rates.

General information about peer loan

November 27, 2019 • admin

 

A peer-to-peer loan is a type of loan where an individual borrows money from another individual. Peer-to-peer loan is also referred to as social loan and peer to peer loan. A person who has too much capital in relation to their needs may agree to lend money to another who does not have enough money. In this case, the amount to be borrowed, the repayment period and possible interest will also be agreed.

The smaller the loan amounts and the closer the personal relationship is, the more informally the loans are usually negotiated. Often friends borrow small amounts from one another and the money is agreed to be repaid the next time they see you. When it comes to larger amounts, the lender may feel more secure if the loan is secured by a written agreement that records the interest and the repayment period. You may also need to talk about collateral.

Often, as the amount of loans increases, the nature of the contracts is divisive. Loans to your closest relatives or most trusted friends are inherently more social. In these, the wealthier party wants to be of help, and then provides a loan at often favorable terms. On the other hand, the second trend is more investment-driven, with a higher interest rate on the loan, strict terms and conditions, and often the introduction of collateral.

In this case, the loan may also be partly like an investment, in which case the lender will be offered a shareholding in the company or the right to convert part of the debt into shares at a later date.

History of the peer loan

History of the peer loan

Historically, lending has been based on the capital accumulated by one or more wealthier individuals, which has been lent to persons they consider appropriate. Today’s banks operate on the basis of depositors’ money being pooled, whereby banks lend on a money-creation ratio, without forgetting the minimum reserve system.

Nowadays, the value of money is not tied to anything solid, like precious metals, so banks benefit from how easy it is to create money. This can be seen in increased efficiency. For these reasons, peer-to-peer lending may be very small compared to bank loans.

Peer loan operating models

Peer loan operating models

Micro-loans to developing countries

Some loan sites offer the opportunity to lend to entrepreneurs in developing countries, for example. Such loans are usually quite small, ranging from about $ 300 to $ 3,000, and the lawmakers receive no or very little interest on their investment. This will give borrowers in developing countries the opportunity to borrow at very reasonable rates. The key objective of this model is to provide people with assistance to help them overcome poverty through their work.

Loans without collateral

Most Western countries already have a model where the consumer can take a credit card and a bank loan. In this case, the service provider bills and manages the contracts, but the risk of repayment lies with the lender. So far, lending is only possible locally.

Loans between friends and family

In such a model, the loan is negotiated between familiar people. Often this is done entirely by individual agreement, but the services of the service providers allow the loan to be formalized and the fees collected. The quote site provides a template for contracts and help you focus your money flow on people you are already familiar with.

Advantages and disadvantages of a peer loan

Advantages and disadvantages of a peer loan

Benefits

The purpose of peer-to-peer loan models is to bring back the social characteristics of lending, which have disappeared completely from the traditional banking model, but also involve diversification and risk management. Utilizing web-based technology, it is possible to bring together credit applicants and lenders in real time. Networking reduces the cost structure, as physical office space is not a challenge or a cost.

By leveraging these factors, we seek to achieve a win-win situation and cost for both parties. In a peer-to-peer lending, the bank is left out as a party and thus the lenders receive a higher interest rate on their capital, while the borrowers get a lower interest rate than with traditional financial institutions.

Disadvantages

The main problem with a peer-to-peer loan is that it is difficult to find investors. Part of the reason for this has apparently been the crisis in the economy, but confidence building has also been a problem. Some site investors have also been disappointed with the returns they receive. The spread of peer-to-peer loans has been slowed down by regulatory oversight.

For a quick secretive and discreet micro-loan.

November 12, 2019 • admin

Trust the real specialists!

Trust the real specialists!

Good Finance ​​is a Canadian company working in the financial services sector. For more than ten years, we have constantly innovated in order to offer our customers alternative credit solutions to those of large financial institutions. Our range of financial products allows you to acquire greater financial autonomy, without any hassle.

We understand that no one is immune from a precarious financial situation, and our solutions are adapted according to this reality. Our services are completely confidential and secure. We are one of the only micro-loan firms to follow the security standards of the payment industry (PCI).

Your satisfaction is at the heart of our priorities. We offer transactions with no surprises or hidden fees. Our interest rates are competitive for the service offered. It is important to understand that the costs associated with a micro-loan are greater, since they are amortized over a smaller amount. Good Finance ​​strives to keep costs as low as possible, in order to offer you the most advantageous loans in the industry.

We are at your service for your micro-loan needs

We are at your service for your micro-loan needs

Our team of micro-loan specialists is available to assist you in your transactions. A micro-loan varying between $ 500 and $ 1,000, to obtain a rechargeable Visa card, to assist you in the cashing of your checks or to help you obtain a car loan, we have a solution for you.

Our secure web platforms are user-friendly and help you make fast transactions in complete confidentiality. No harmful request will be made after credit bureaus. Our analysis is based on the information you have provided to us.

Good Finance ​​offers you one of the most complete web portals in the industry. You will have access to your financial data in real time. With the help of a simple connection, you will be able to consult your loan balance, consult your future payments, and postpone payment if necessary. From your account, you will also be able to access all of Yamaska’s services

In addition to our financial services, Good Finance ​​offers you a credit recovery program. A unique service that can help you get more conventional loans with better interest rates.