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Follow on Google News | Private Student Loans for Online-A Survey, Next step for Sub prime MortgagesThe private student loans for online are booming, and a group of consumer advocacy has taken a critical look at these non-federal loans, which now represent nearly a quarter of all loans for education.
By: Daniel Hirsch In a report released today that outlined some of the dangers of private student loans for online, the National Consumer Law Center reviewed 28 private student loans for online from 2001 to 2006. The group found all loans have variable rates, with rates of initial annual percentage ranging from 5 percent to 19 percent. The average initial APR was 11.5 percent. The survey also found a departure tax by 4.5 per cent (the highest price from a loan in the study was 9.9 per cent). Direct federal loans now have a departure tax of 2.5 percent. The survey of more than two dozen private student loans for online found several other problems, the report said. A number of donors in the study were not willing to offer a reasonable settlement, and some loans, "stated explicitly that there will be no cancellation if the borrower or co-signer dies or becomes disabled. The report on private student loans for online presents many similarities between the private student loans for online and sub prime mortgages, including tightening credit lines, risk-based pricing, predatory terms, "push" marketing communication and inadequate information. The report states: "We can not say with certainty that the market for student loans is moving towards the same fate as the industry sub-prime mortgages, but there are ominous signs." Loansbigandsmall.com fulfills the dream of aspiring students by providing them affordable student loans. We provide education student loans online, student loans online & private student loans for online. Loansbigandsmall.com Contact Person: Kristina Smith Financial Adviser Phone: +1.8772064254 Address: 1333A North Ave, Chesterbrook 19087 New York USA Web: www.loansbigandsmall.com # # # Whether you are looking to make a large purchase or figure out how to pay for a large purchase you already have made, loansbigandsmall.com can help you figure out what your best options are. You can take home equity loan, bad or no credit home loans, or mortgage loan for constructing or purchasing a home. If you are looking to purchase an automobile or want to have a car of your own you can apply for an auto loan, auto lease or financing. If college or higher education is in your future or past, student loans help you take the burden off of high tuition. If you have made many purchases, you have a number of ways to reduce your credit card debts both secure and unsecured. If you are looking for a new credit card, many credit card companies offer great reward and incentive programs to their customers. You should always keep yourself aware about such offers so that you can take full benefit of these offers and we are here to help. End
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