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How student loans work
What is a Student Loan? A loan is borrowed money that is repaid over the time. In addition to repaying the amount borrowed, most borrowers also have to pay a fee, called interest. A student loan is used to pay for college costs. What is Interest? Interest is a fee charged for the use of someone else’s money. It is typically charged once a month based on the unpaid loan ...
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How Student Loans Affect Your Credit
Student loans can have a major effect on your credit score, so it pays to understand the relationship between student loans and credit. On one hand, borrowing and paying back student loans can do wonders for your credit history. On the other, a misstep like a missed payment can send your score plummeting. How Student Loans Can Positively Impact Your Credit Think student loan debt is all bad? Not quite. If you ...
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How Student Loan Debt Can Harm Your Credit
Though student loans can be a good thing for your credit, it's also easy to get into trouble. If you aren't careful with payments or take on too much debt, your credit score can suffer as a result. Missed payments. Remember how important payment history is for your credit score? The last thing you want to do is miss a payment. Because payments comprise 35 percent of credit history, missing and ...
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How Personal Loans Work
Credit comes in many forms, including credit cards, mortgages, automobile loans, purchase financing over time and personal loans. Each type of credit serves a certain purpose for a goal you may have, whether it's to buy a house or car, or to allow you to break up a big expense into more manageable monthly payments. A personal loan is a form of credit that can help you make a big purchase or ...
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How medical debt can harm you
Medical debt is still debt, and any debt can ding your credit. On the FICO scale of 300 to 850, “a collection that hits a credit report could have an impact of up to 100 points,” says Nancy Bistritz-Balkan, vice president of communications and consumer education at Equifax. Regardless of what caused it, a lower score will affect whether you can borrow money or obtain credit, and on what terms ...
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How long do you have to roll over a 401(k)?
If you have more than $5,000 in your former employer’s 401(k), you generally won’t be forced to roll over your 401(k), according to the IRS. If a distribution is made directly to you from your retirement plan, you have 60 days from “the date you receive” a retirement plan distribution to roll it over into another plan or an IRA, according to the IRS. But if you have more than $5,000 ...
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How financial advice can help
We believe in the value of financial advice. In today’s complex and ever changing financial world, it’s never been more important to seek qualified and experienced guidance to help you secure a successful financial future. The major goal is to make it easier for all people to access and benefit from receiving the right advice for their individual needs and objectives. Whether it be simple fact based information to make ...
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How Do Student Loans Affect Your Credit Score?
Student loan debt is fairly common these days. As of 2018, more than 44 million Americans were dealing with student loans – so don’t feel alone. And while paying off your loans may be an added stress during these already complicated years of young adulthood, it’s good for you to know that having a student loan may actually help your credit score and even allow you to build a credit history that could enable ...
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How Do School Loans Show up on Your Credit Report?
Yes, your student loans appear on your credit report and are factored into your credit rating, just like any other loans. That means they can provide a positive effect on your credit rating if you make payments promptly, or a negative impact if you miss payments or go into default. If you take out a reasonable amount of student loan debt and make responsible payments on it after graduation, your credit report will reflect ...
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How Do Private Student Loans Work?
Federal students’ loans offer standardized loan types, interest rates and terms to most borrowers. With private student loans, your options and interest rate will vary, though there are some laws that affect all private student loans. Your credit, and that of a co-signer if you have one, will also impact what types of loans you qualify for and the interest rate you’ll receive. Loan Types Lenders may offer different types ...
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Where to look for business loans in Nigeria
Where can I get a business loan in this country? If you haven’t asked this question before, you know someone who has. For many people, this is the most important part of getting a loan and we agree. If you know where to look, then you can find out about ...
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Top 10 Quick Online Loans And Lending Platforms In Nigeria
Most often, many business owners and entrepreneurs may require extra funding or capital in terms of business loans to expand or keep the business going. When all other means of raising fund for your business has been exhausted, the best alternative is to consider getting a quick and easily affordable online loan ...
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Top Online Lending Platforms for Small Business Loans in Nigeria.
Most often, many small businesses may require extra funding or capital in terms of business loans to expand or keep the business going. When all other means of raising fund for your business has been exhausted, the best alternative is to consider getting a business loan. But many small business owners view ...
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Top 5 Commercial Banks that Nigerian SMEs can borrow Loans from.
First Bank First Bank has been in operation for centuries (it was established in 1894) and has since engaged in several dealings both on the local and global front. While there may be a perception that First Bank doesn’t have time to pursue potential clients, they offer lots of benefits for SMEs. There ...
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Tips to get the best car loan deal in Nigeria
In trying to secure a car loan, you get a good deal or a bad deal. How you go about securing your car loan determines the type of loan that you get. There are various things you lookout for in securing the best car loan. Of course you wouldn’t just walk into ...
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Tips to get business loans in Nigeria
A business loan is a loan specifically intended for business purposes. As with all loans, it involves the creation of a debt, which will be repaid with added interest. There are a number of different types of business loans in Nigeria including machine financing, asset-based financing, invoice financing, microloans, business ...
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Tips to Get an Auto Loan with Bad Credit or No Credit
If you have less-than-perfect credit or no credit, you might be asking yourself how you’ll get approved for your auto loan. High rates of interest and large monthly obligations may have frightened you away. With a bit of preparation, getting a car loan with unfavorable credit ratings or no credit rating is actually ...
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Tips for applying for a personal loan
If you need a personal loan, finding the right loan and getting approved are just some of the factors you should consider. You also want to protect yourself and avoid common pitfalls along the way. Make sure a personal loan offers you the best deal Before you consider different personal ...
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The CREDIT REPORTING Act 2017
Before this Act, the credit bureau industry started as a regulated industry with the release of the Guidelines for the Licensing, Operation and Regulation of credit bureaus, released and became effective in 2008, revised in 2013. The bill for the Credit Reporting Act was: Sponsored by the Chairman of the ...
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STERLING BANK NIGERIA PERSONAL BANKING LOANS
STERLING QUICK LOAN With the Sterling Quick Loan, you can quickly meet those urgent personal needs. It is available to current account holders with regular monthly income. Features Maximum tenor of 12 months Competitive pricing No equity contribution Requirements Hand written application letter Duly executed consumer Loan application form Minimum of ...
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STERLING BANK NIGERIA LOANS
BUSINESS BANKING LOANS GUARANTEE These are instruments that entail Sterling Bank substituting its credit worthiness for that of its client and it is done at the request of the bank’s client to the beneficiary. They are undertakings by the Bank, that its customer will carry out the terms of a ...
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STERLING BANK NIGERIA AGRICULTURE SCHEMES
COMMERCIAL AGRICULTURAL CREDIT SCHEME The scheme is aimed at fast tracking the development of the agricultural sector by providing credit facilities to large scale enterprises with a minimum asset size of N50m at a single digit interest rate of 9%. This is to enhance national food security, increase food supply ...
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Sterling Bank Loans
Sterling Quick Loan With the Sterling Quick Loan, you can quickly meet those urgent personal needs. It is available to current account holders with regular monthly income. Features Maximum tenor of 12 months Competitive pricing No equity contribution Requirements Hand written application letter Duly executed consumer Loan application form Minimum of ...
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STERLING BANK AGRICULTURE
AGRICULTURAL CREDIT GUARANTEE SCHEME FUND The Scheme provides guarantee cover (up to 75% of any outstanding balance upon default) in respect of loans granted to the agricultural sector by banks and also has a farmer-friendly scheme called "Interest Drawback Program" (IDP) of up to 40% interest refund upon liquidation of ...
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STERLING BANK AGRICULTURE FINANCE
STERLING TRACTOR ACQUISITION SCHEME Tractor Lease finance facility for Individuals, Corporate Enterprises, Cooperatives, State Governments and Tractor Associations to purchase tractors to be supplied by the appointed Vendors. Target Individual Members of Groups or Associations/Cooperatives Corporate Enterprises/ Individuals with evidence of land ownership with minimum of 20 hectares State Government ...
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Start or expand a farm with agricultural land financing
Agricultural loans provide the capacity to purchase a new farm or expand current operations. Farm loans are available through traditional lenders as well as dedicated government agencies. Experience in farming and a good credit score is preferred to get approved for a farm loan. What is an agricultural loan? Agricultural ...
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STANDARD CHARTERED NIGERIA
BUSINESS BANKING Trade and Working Capital Solutions Their total trade solutions offered will assist you through the complexity of international trade by leveraging on our extensive international network. Import Trade Services Bonds & Guarantees: Standard Chartered Bank is able to issue your organization a wide range of Bonds to facilitate ...
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STANDARD CHARTERED BANK NIGERIA
PERSONAL LOAN At Standard Chartered they are in the business of helping you improve the quality of your life. That's why they offer you a personal, unsecured loan to help you fulfil those dreams and live life to the full. Whether to buy a car, pay school fees for a ...
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STANBIC IBTC BANK NIGERIA
INDIVIDUAL LOANS Credit Cards The Stanbic IBTC Visa Credit card is a chip and PIN payment card that gives you access to a revolving line of credit to meet your financial needs. Benefits Access to funds for cash withdrawal and point-of-sale (POS) purchase transactions at millions of merchant locations worldwide ...
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STANBIC IBTC BANK NIGERIA
TRADE FINANCE Import Finance Import Finance is a flexible short term loan that can help your business to manage cash flow from the date a supplier's invoice becomes payable up to the point of settlement from the ultimate buyer. The two main types of important finance we offer are Letters ...
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