LOANS » Current Rates, News & Information

Banco Popular offers personal loans of two types: secured and unsecured.

Unsecured loans are available for between $1,000 and $25,000, and paid off in fixed monthly payments (just like a mortgage). You need a decent credit history and income to qualify for such a loan.

New data for public colleges and universities across the country are showing that tuition is skyrocketing for the 2010-2011 school year by as much as 30 percent.

While not all schools have reached this incredible peak, there is no doubt that schools around the country are raising their tuition rates, something that may make acquiring student loans more crucial for students.

Schools with Increased Tuition Rates

College students nowadays face greater stress than any other generation, at least that’s according to a report from MSNBC that compared the mental health issues of high school and college students in the Great Depression to those in 2007.

According to the report, students face more financial challenges and social pressures that lead to anxiety issues. And with the financial crisis of 2008 and the recession, those pressures by no means lightened up.

Unfortunately, your FICO credit score is not allowing you to qualify for the best auto loan rates out there. Your score is decent, but to get the lowest interest rates possible, outstanding seems to be the new industry standard. A credit union may be another possible place to get a lower rate auto loan.

Credit unions are a type of cooperative financial institution that is owned, operated and controlled by its members. Their purpose is to promote thrift and provide credit at reasonable rates. Credit unions differ from banks and other financial institutions, as the members of the union are also the owners of the union.

There had been predictions that key interest rates could rise soon after the New Year passed and now analysts say that time may be upon us. However, the analysts are predicting that one key rate among other interest rates could increase. This rate is known as the “discount rate.”

What is the Discount Rate?

Having tax debt is a major problem for a lot of taxpaying Americans, especially those who are self-employed or own their own business. The IRS does offer settlement options and extensions to pay off the debt, but not all taxpayers qualify. So what do you do if you need to pay off your tax debt and don’t have the money? You could try taking out a loan. However, there are potential downfalls to taking this route.

What Loans Are Available?

President Barack Obama has a plan to cut the federal student loan payments of millions of Americans. His plan, which was originally announced on Monday, would lower the top payment that a borrower could make above a specified amount.

The Basics of Obama’s New Proposal

Under Obama’s proposed plan, he would cap payments on federal student loans at 10 percent of a borrower’s income above 150 percent of the poverty level for the borrower’s family.

To better understand this idea, if you are head of a family of four, your federal poverty level would be $22,050. If you make less than 150 percent of this poverty level, which would be $33,075 (the set minimum), you would pay nothing on your students loans on a monthly basis.

If you are looking to get your hands on much-needed financial aid for the 2010 fall semester, it’s time to speed up your FAFSA application process. Many students turned in their applications on January 1. - good for them, bad for you.

The best aid is first-come, first-serve, and many private student lenders are slowing down their lending or implementing stricter repayment guidelines. Because of this, financial aid may be harder to come by this year, which means you need to get your application in as soon as possible.

The Deal with Federal vs. Private Student Loans

A bad economy takes its toll on just about everyone, sparing neither rich nor poor, young nor old. People who have recently graduated from college are affected just like everyone else. They’ve entered a dismal and discouraging job market, and what’s more, many now have to start paying back their student loans.

If that’s you, and you find yourself unable to make your student loan payments, you may be wondering what your options are. The good news is that you’ve got several, but at best they simply buy you some time. With some luck that might be all you need.

After the financial crisis hit, banks were more than reluctant to extend personal loans – but now that consumers seem to be getting their credit hacked by issuers, consumers are increasing their demand for personal loans. And according to a new SmartMoney.com report, a number of banks are happier to oblige than they’ve been in a while by extending several personal loan products.

Banks a Little Less Reluctant to Extend More Loans