why have private banks CANCELLED their student loan programs?

Question by internet: why have private banks CANCELLED their student loan programs?
Many banks have given up on “private student loans” and are abandoning it on a daily basis.

Private student loans are now seen as “high risk investment” by all major banks and some even claim that it is equivalent to “subprime loans” of 2006 and 2007.

Private student loan for years was an alternative to federal student loan for many whose needs weren’t covered by federal loan limits (such as cost of getting tutoring, gasoline/car expenses and other miscallenous expenses which are for education but not recognized by federal government).

BofA, Citi, JP Morgan, all scrapped their “private student loan” programs. Why?
Even credit unions have given up issuing private student loans for the promising students whose career depends on education. So now these promising students are deprived of a bright future because banks won’t give them the opportunity to prosper?
On 1 hand the economy is recovering per the media, but on the other hands credit is getting harder than ever to obtain from banks? without credit, people cannot make it. Small businesses that depend on access to bank credits for expanding and hiring people, have been shut out of any chance whatsoever. How will things improve then?
For making big ticket purchases such as new house, new car, opening new business, etc etc almost everyone depends upon access to credit from banks. With the help of loan and credit, these things are made possible and that’s how economy recovers and expands. If banks are shutting down on credit or making it tighter and harder than ever to obtain, the economy simply cannot improve ever.
Sadly, credit and loan is only available to the 1% now – who don’t need credit or loan anyway. For the rest of the 99, its NOT ALLOWED. Then why did Obama and Bernanke even bother to bailout the failing banks? this is a serious question.
nowadays even people with good credit score are being denied loan. You would have to have at least a 6 digit personal income just to qualify for loan. Good luck in trying to buy your next “new house” or next new “lexus or bmw”
how painful it must be for many people to realize that they will never get the chance to buy a new lexus or new bmw in the future. they have been deprived of reliable transportation needs
bill gates or mitt romney will get any type of loan or credit from the bank, but you won’t. is that the type of America the founding fathers envisioned, where rich keep getting richer and the rest are barred?

Best answer:

Answer by Maryjane Dark Goddess
Because it’s a high risk loan.

Add your own answer in the comments!

Bookmark and Share
Tags : , , , , , ,

question pertaining to auto loans..?

Question by Rich C: question pertaining to auto loans..?
how should i go about finding an auto loan that would have no credit check and have a good payment system? i do not want to get one that would end up hurting me in the end. i was wondering if someone could assist me in finding one that would either be or somewhat have;

-no credit check
-no cosigner
-preferably no employment verification
-affordable payments

please help me out,, any advice would be helpful. im a college student who needs a car for this semester and i have no money to purchase one myself and i dont have any parents or guardians that would assist me in this so that’s why i need to find a good loan to get.

thanks!
sorry i guess the satan dickhead couldnt read well.. i said PREFERABLY no work exp., all i was wondering is if anyone had any website in mind.. not some lame story.

Best answer:

Answer by xx_satanic_mechanic_xx
This is not happening. Serioulsy, you are not living in the same world with the rest of us if you think you can get “good loan” under your conditions. No credit check? No employment verification? Even Buy-Here, Pay-Here lots check your employment. No one is going to write a “good loan” and not confirm that you have the means to pay it back.

With no credit check, no employment check, and no co-signer you are in loan shark territory.

Use public transportation, get a job, save your money and pay cash. That is the best suggestion for your circumstances.

ADD: Oh golly, you are right! I completely overlooked the word “preferably”. Well that changes everything! If it is only “preferably” without employment verification, there are literally hundreds of banks you can get a good loan through! If all you want is preferred loan structure on no credit check, no so-signer and a smile and a wink, then banks will step all over one another to earn your business!

Get mad all you want. Call me and everyone here anything you like. Your request is unreasonable, and won’t happen. You are dealing in the world of grown-ups now and in our world, you have to earn things like good loans. They don’t get handed to you becuase you are teh cutest kid in Algebra class.

Add your own answer in the comments!

http://thefilmarchive.org/ May 10, 2012 Financial aid may be classified into two types based on the criteria through which the financial aid is awarded: meri…
Video Rating: 5 / 5

Bookmark and Share
Tags : , , ,

Is it Mistake to have a baby now ?

Question by Yup just Me: Is it Mistake to have a baby now ?
am 25 and my hubby is 27 we are Married for almost 2 Years
we moved to another country directly after our wedding as my husband works there
he has a very good Job , we are financially stable for a young couple .
as for me , i dropped outta med school in the end of my 2nd year ( personal reasons ) and got a temporary job as an ( administrative assistant ) which later on became a full time job .
now i am doing nothing significant with my life , its hard to get a decent job where am living now
and my parents are pressuring me to go back to med school , which is impossible for me to do
i dont have the will to do it , and i have to admit that am not interested anymore
on top of that My mother stopped having real conversations with me since i left college , she keeps saying i don’t want u to be like me , just a housewife …
lately i started thinking about having a baby , its so not me
i notice kids a lot lately , and they just bring me joy and i cant stop thinking of having my own.
before i would panic just of the thought of having a kid … but not anymore !!!!
anyway …. i wish to have a baby maybe Next year
but my only fear is ( NOT HAVING A DEGREE )
will i regret having a baby without having a good job or at least a degree , something to help me stand on my feet if my life took another turn ??
Can i have a baby and still do something with my life ?

Best answer:

Answer by beverly
You can do anything you put your mind to, but you should NOT have a baby if you are not 1000% SURE that is what you and your husband want.

Know better? Leave your own answer in the comments!

Bookmark and Share
Tags : ,

Does this statement of Romney’s make sense?

Question by R.Regnig: Does this statement of Romney’s make sense?
” Particularly with the number of college graduates that can’t find work and can only find work well below their skill level , I fully support the effort to extend the low interest rate on student loans ” Mr. Reg notes a problem . Someone has been sold a bill of goods . Pretend Mr. Reg quite responsibly gets a degree . Mr. Reg simply can’t afford the cost of a modern education . Well , of course only flipping hamburgers it’s nice Mr. Reg is not stung on high interest rates to boot . Nevertheless who buys it on what Mr. Regs skill level is actually good for anything ? Employers . Where is the problem ? Lets say Mr. Reg paid rapt attention in College and really learned the stuff . So we’ll say that Mr. Reg is no dummy but what did College really teach him ? How to be an egghead puppet plagiarizer instead of holding unique internal values; taking the risk and going at life for good or ill on it . So instead the governmental solution is to throw money at it , nevertheless you must pay for it in the bitter end .

Best answer:

Answer by Quynton
This looks like a rant.

Add your own answer in the comments!

Bookmark and Share
Tags : , , ,