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unsecured loans
By unsecured personal loans
Jun 6th 2008
at 5:25 am EDT
Unsecured personal loans can be availed without the need for the borrower to furnish any security against the loan amount. These loans are specifically meant for tenants, and borrowers who have security but are not willing to risk the same. Interest rates on an unsecured personal loans
are generally higher. With security missing, lenders do this as a way of keeping a margin against a potential default from the borrower. However, at Shakespearefinance, we constantly try to provide unsecured loans with competitive rates to our customers.
An article in the Minneapolis Star Tribune last week looked at how students in Minnesota might be affected now that student loans are starting to dry up. The article reports that the average student that attends college in Minnesota college carries a debt load of $23,375 -- that's higher than the national average.
The article says not to worry, however:
"There may be fewer lenders, but I'm not in a panic," said Jane Williams, director of financial aid at Concordia. "We still think there are plenty of loans out there. I don't think it's necessary for families to be worried."
Oh good. There are still plenty of lenders out there.
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are generally higher. With security missing, lenders do this as a way of keeping a margin against a potential default from the borrower. However, at Shakespearefinance, we constantly try to provide unsecured loans with competitive rates to our customers.
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