All posts by Johnathan King

Federal Loan from Payday versus Direct Federal Loan




There are many types of loans to help students pay the costs of higher education. With their usually lower interest rates and more generous conditions, federal student loans are the first place families should look for funding not covered by scholarships and grants. See College Loans: Private Vs. Federal .


Federal Payday Loans Loans and Federal Direct Loans are two types of loans that are offered through the federal government.


Their similarities

Federal Direct and Payday Loans have certain characteristics in common. Both types of loans:


are offered by the US Department of Education to borrowers who have demonstrated sufficient financial needs (note that direct non-subsidized loans do not require a financial need; direct subsidized loans do this). Are managed through the financial aid posts of institutions participating in the federal student loan program.

Requires completing the FAFSA (free application for federal student assistance) and submitting a promissory note stating your intention to repay the loan.

Must be applied for and approved for each academic year – giving borrowers a separate loan for each year of training.

Must be used for qualified educational expenses such as tuition and fees, books, board and lodging and other necessary expenses related to higher education.

Cannot be used to pay for secondary education.

Are available for eligible graduate students (only Federal Payday Loans Loans and Direct Unsubsidized Loans).

are eligible for loan consolidation, as long as the borrower meets all the necessary criteria (read

Time to consolidate your student loans? ). are eligible for loan forgiveness, in some cases (see

Debt forgiveness: how do you get out of your student loan ). Have taxpayers deduct interest paid on their loans, regardless of whether they specify their deductions.


How they differ

How they differ


Who is eligible?

Payday Loans loans are only available to students with significant financial needs, as determined by their answers to the FAFSA and the guidelines of their school. Direct subsidized loans also require proven needs, but a larger number of incomes may be eligible. All three types of loans are open to qualified students; graduate students can only receive Payday Loans Loans or Direct Unsubsidized Loans.


Loan subsidies.


All federal Payday Loans loans are subsidized by the government, which means that the government pays the interest that is accrued while the student is at least in school. The government also pays interest during school for Direct Subsidized Loans, but not for unsubsidized diversity. Read Federal Direct Loans: subsidized vs. Non-subsidized for more information. Cost.


Payday Loans loans do not charge for borrowing or default. Federal Direct Loans usually charge a license fee of 1.67%, which is deducted from the payment of the loan. Interest rates


. For the 2015-2016 school year, the Federal Direct Loan rates were 4.29% for both subsidized and unsubsidized undergraduate loans, and 5.84% for graduate and professional students. The interest rates are now linked to the ten-year treasury, plus a fixed margin. Click here to view the current interest rates for Stafford loans. Payday Loans loans charge a fixed rate of 5% for all borrowers. Availabilty.


The pool of available funds for Payday Loans loan institutions is more limited than that available for Federal Direct Loans. Although loans from Payday Loans have federal limits for how much a student can borrow – both annually and cumulatively – institutions usually set a limit that is significantly below these levels to maintain their funding pool. Loan limits.


Federal Direct Loans have different limits for graduates compared to students, and subsidized versus non-subsidized loans. See Federal Direct Loan Limits . “Independent” students, those who file their own income tax return and claim themselves, are eligible for larger unsubsidized loans than those declared as dependent on someone else’s tax return. Payday Loans loans have one annual limit for students and a larger one for students. Payday Loans is not distinguished by undergraduate status or grad school type. The dollar limits for direct non-subsidized loans are divided as follows:


Graduate and professional students have higher lending limits. The cumulative loan limits for graduates and professional students include all undergraduate loans for student loans.


Direct non-subsidized loan – graduate and professional students


Direct subsidized loans are only available to undergraduate students and have lower credit limits than non-subsidized loans. The tax status makes no difference in what they can borrow:


The credit period for Payday Loans Loans is always 10 years. Although this is often the case for Stafford loans, in some cases students can extend their payments over a longer period, up to a maximum of 25 years.


The bottom line If you are an undergraduate whose family income makes you eligible for a Payday Loans loan, then you are probably also eligible for an Direct Subsidized Loan. Which should you choose?


For 2015-2016, the Payday Loans loan with a fixed-rate period of 5% is higher than the Federal Direct Loan interest for students (4.29%), but the Payday Loans loans have no initial costs. If you don’t need money from either of them, do the math to determine which one offers the better deal for you. As a freshman and sophomore, you can borrow more from Payday Loans; in the following years the credit limits are the same.


For grad students, if you meet the Payday Loans loan conditions, you get a better interest rate than with a Direct Unsubsidized Loan (5% compared to 5. 84%). With a Payday Loans you don’t have to pay interest until after graduation; with a Direct Unsubsidized Loan (since you are not eligible for a subsidized loan), you will. On the other hand, the Direct Unsubsidized Loan has higher credit limits.


If you do not meet the financial criteria for a Payday Loans, your only choice is a direct subsidized loan. Depending on your income, the non-subsidized loan may be your only option.


For more information about each type of loan – and other federal student analysis options – visit the website of the federal student analysis at www. student grants. gov or consult the financial auxiliaries of your university. Click here for a comparison table.




How Much Loan Does The Sweden Have?


We at have reviewed the latest statistics (March 2018) from Statistics Sweden to find out how the mortgage lending in Sweden is. We have, among other things, gone through Statistics Sweden’s Financial Market Statistics, which is produced by Statistics Sweden, the Unit for Balance of Payments and Financial Market Statistics, on behalf of Sveriges Riksbank.

Average interest rates in March 2018:
Mortgages: 1.56%
Private loans: 4.3%


Do you have a higher interest rate? Let’s get you free of charge at a lower interest rate. The application takes 2 minutes and you get an answer shortly thereafter !

Financial Market Statistics, March 2018

What is the cost of mortgages today? According to the publication above, the average lending rate was 1.56% (March 2018) for new loans taken for residential purposes (read housing law and villas).


Blank loans accounted for 6.2% (6.67%) of total lending in March 2018 (February 2015)

Blank loans accounted for 6.2% (6.67%) of total lending in March 2018 (February 2015)

In March 2018, households had borrowed SEK 238 billion in the form of blank loans. Blank credits are defined as: “Loans granted without any collateral or guarantee. Often, this type of loan has a high interest rate compared to loans where there is security, eg. housing. The statistics also include debit card receivables and credit card credits in blank credits as they generally lack security ”.

Unfortunately, we did not find new statistics on the number of credit cards when we updated this page, so we left the following information from the end of 2015: “At the end of last year, MFIs (monetary financial institutions, read banks and credit card companies) had released 19,688,000 (19,7 million) payment and credit cards to the Swedish people. The receivables on these cards were SEK 69.449 million (SEK 69.5 billion). This corresponds to SEK 3525 per card, which can be considered a rather small amount. This is due to the fact that most people repay their debts on the credit card and therefore the claims that are not repaid in their entirety are collected on a much fewer number of cards / individuals. In addition, many payment and credit cards are issued but not used. Note that the interest rate on credit cards is normally much higher than the interest rate on private loans (a kind of blanket loan) and therefore we recommend at that you pay off debts that you have on credit cards with pure private loans. ”

We at as usual hope that our articles are thorough, accurate and exhaustive and we therefore appreciate all feedback. Did you find some useful information? If so, share this article so that others can benefit from it as well.

Consolidated loans without KRD – Where to borrow?


Is it possible to get a consolidated loan without verification in the KRD? To answer this question at the beginning, let us determine what is the national debtors’ register. KRD, is a company that collects debtors’ data from across Poland. You can enter the register, for example, for an unpaid ticket, delays in paying utility bills, or failure to pay installments within the prescribed period. The KRD company is mainly associated with the fact that companies enter it for the lack of repayments on time.

However, few people know that also every private person can enter his debtor for a fee. A relevant court order is required for this. In addition, the national register of debtors offers in the form of a subscription, as well as BIK notification when a company sends a request to krd to verify the database in search of entries. This will allow us to avoid extorting consolidated loans or credits to our data. In addition, we also have the opportunity to check ourselves if any company has accidentally recorded information about liabilities on our account. The official website of the KRD .

Where to borrow without KRD?

We, as a company specializing in consolidated loans for indebted people, also borrow to people who have negative entries in the KRD. So if you have an accident, or are looking for a consolidated loan to pay off your debts, so that you can delete information about yourself in the debtors’ register, we may be able to help you. A quick consolidated loan via the Internet, maybe it will allow you to go straight, of course if the appropriate budget will be written out, and will plan your expenses in detail. A properly selected strategy can help you clean your account in the debtors’ registers and lead to repayment of all liabilities on time. Apply for a consolidated loan without KRD .

Will I be discharged from the KRD bases after paying off the obligation?

Just like the debtors’ register writes on your site – after all liabilities have been repaid to your creditors, your data will be 100% crossed out from KRD, and your chances for a consolidated loan will increase. This will make it much easier for you to apply for a consolidated loan in the future. You will also save time because many companies do not want to give consolidated loans to people entered in the debtors’ registers. They do this because they want to minimize losses, and to make consolidated loans unpaid. Thanks to lower costs, they can offer consolidated loans to other clients with a lower interest rate and a better margin.

When will the debtor be added to the bases?

In the case of BIK databases, a person who has not paid his dues to the lender is added after 60 days from the planned repayment date. In addition, the amount of unpaid consolidated loan must exceed more than PLN 200. In addition, a letter of payment order is sent to such a person in which it is marked that it is entered in the national debt register. However, when it comes to entries to the KRD and BIG, the situation is not so obvious. Pursuant to the amendment to the Act of November 17, 2017, the Debtor may be entered into the register of debts after 30 days from the planned repayment date. However, it should be notified in advance by post. And as you know, it depends on the company when he wants to inform such a person. Usually, however, such notification is sent together with information about entering the BIK database.

How to avoid getting into debt and problems with debtors’ registers?

The solution that I propose will not be easy. Because according to the saying “If you are doing things easy, your life will be difficult. If you are doing difficult things, your life will be easy. “Falling into debt is undoubtedly a difficult matter and is the result of making too many easy decisions. Most often, however, it is an effect that we postpone making a decision, and she undertakes it herself without our participation. An example would be to call the consolidated loan company and inform about the poor state of the household budget, and the likely delay in the repayment that will take place. No doubt it will be a difficult phone call, because nobody can admit it.

However, if we delay this decision, the lender will call and ask for his money. It will probably be after the repayment date, so you will additionally receive penalty interest, as well as the costs of so-called “reminders”. If we stop receiving calls from the consolidated loan company, then the case will be quickly referred to debt collection, and the dishonest debtor entered into the KRD, BIG or BIK registers.

Will the repayment of late consolidated loans lead to the deletion of information in the KRD and other databases?

Will the borrower be removed from the debtors’ database after payment of arrears? It depends on the base, but most often not. In the case of BIK, in order to restore the same capacity as before the indebtedness, the repayment of the obligation must take up to 3 years of timely repayment of liabilities. Of course, this does not mean that the entry will be deleted. Information on this incident will be further processed at BIK. The same applies to ERIF registers. However, when it comes to entries in the KRD databases, the case is a bit different. In the case of repayment of any obligations, the customer is deleted from the KRD base and again has a “clean account”.


Interest in consumer loan differs too much

If you have a consumer loan in the form of a revolving credit, then you are dealing with a variable interest rate. You pay this interest on the withdrawn amount of the revolving credit. So it is not known in advance how much your actual costs are. Lenders may temporarily increase the interest on this revolving credit to a reasonable maximum. Nowadays it appears that this does not happen. Some lenders sometimes increase interest rates by 6% for various consumer loans within the same company.

Case: switching from a loan provides a significant interest reduction.

The Dutch advance bank went wrong with this and has to pay back the overpaid interest to a consumer. In 2007, the consumer concluded a revolving credit with the bank, a part of the Crédit Agricole. Two years later, the consumer closed a credit within Crédit Agricole itself.

During this period, the consumer received an interest rate rise of 8.9% to 10.6%. Due to the BKR registration it was not possible to transfer the loan, but when it had expired it appeared that the consumer could transfer his revolving credit to a society within the Crédit Agricole for a loan with a 5.9% interest. This is a difference of 4.7%! According to complaints institute Kifid this should not be allowed.

Lower the interest on your current consumer loans

From the case above, it is clear that the transfer of your current consumer loans can result in considerable savings . Staying connected to large banks or larger credit companies does not work in your favor either. Consider transferring your current consumer credit to another company, even if you are currently connected to a major bank. It is wise to always look further than the known lenders in the Netherlands despite the fact that it feels safe. Smaller companies can offer lower interest rates, maturities or even both at the same conditions.

Our credit specialists will be happy to discuss with you the possibilities for the transfer of your current consumer loans to reduce interest and / or maturity. They are there for you every day and are happy to give you more information about this. Can they lower the interest and / or duration for you? Then they arrange this for you from A to Z.



Credit Loan Information – How Does It Work?

We often get questions about how credit reports work and therefore thought in this article to clarify everything that has to do with credit information. The idea is that this article should be comprehensive and therefore you are welcome to send us an email if there is something missing or unclear.

A credit report can be made

A credit report can be made

Taken at several companies that provide the information. However, there are a number of different companies that provide the basis for credit decisions; ie a credit report. On a credit report you find mainly financial information over time (over several years) but sometimes also personal information such as your marital status.

The information center provides a service where you once a year (at the time of writing) can see for free how your credit report looks at them. 


The purpose of a credit report 

The purpose of a credit report 

The creditor’s perspective (eg the bank with which you apply for a loan) is to provide a basis for the creditor to be able to make a decision on the correct grounds. The better the creditworthiness you have (ie the greater the likelihood that you will pay your debts) the lower the interest rate presented should be, as this means a lower credit risk for adjusting the interest rate. The opposite applies, of course, as well.

The less creditworthiness you have, the worse the loan terms you will receive, because the lender must take a greater risk when they lend money to you. It is through the interest rate that the lender compensates for the risk associated with lending money to you.

What you as a borrower should know is that if you do too many credit reports in the short term, it may be negative from a credit rating perspective – in the absence of a better word. What “too many” means is that no one other than the credit information company that knows and it is related to each company’s credit assessment system and the information in turn is interpreted depends on how the creditor’s credit assessment system looks – also something unknown to everyone except the creditor in question. Therefore, you should be careful about making several credit reports for the same purpose.


If you want to review your existing loans or take a new loan

If you want to review your existing loans or take a new loan

It is therefore advantageous to go through a loan broker as because we have a special agreement with . We only take one credit report and the banks we share your information with receive then copies (“coping copies”) of the same credit report.

You will always receive a letter from the Information Center on the credit information we have made and copies of the copy copies. This is done so that you as a borrower must know which banks have taken part of your application. There you often get many letters home when you have made an application with us because we compare your situation with many lenders to find the best option for you. However, as I said, we only do a credit report. Some banks may choose to make a credit report with another information company  and therefore you also get a copy from there – but it is then the first credit report that is made for our account in connection with your application.

The different companies have completely differentiated credit systems and therefore they do not affect each other’s score. Score is the summary figure that indicates your credit rating. If you have a payment note, it appears on the credit report and it often worsens your chances of getting a loan granted.