The University of Iowa has a limited amount of money available for short-term loans to students, administered through the Financial Aid Office. Now we are looking at Public Loan Forgiveness and we are surprised we see around 1% qualify. Ten years is a long time and many life changing events take place that side track the best intentions where students are aiming for it. Many realize they can make more money not working at a employer that qualifies, many have life events such as marriage and children where they need to move to a repayment plan where they pay less.There is no obligation to proceed with any of the loan options presented on your dashboard, but if you see a loan option with one of our partner lenders that you'd like to proceed with, you'll be asked to authorize a hard credit check when you apply for an unsecured personal loan. A hard inquiry can impact your credit score by two to nine points, but typically by no more than five.
Community-based organizations have also recognized the need to provide individuals within LMI communities with access to affordable small-dollar loan products. Working with philanthropic organizations, banks and other funding sources, many mission-driven organizations have created innovative programs that offer potential alternatives to payday loans.
No comments:
Post a Comment