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College is not cheap, not by any means.  For those who choose an instate-college education or even a community college, the price of tuition has drastically risen over the last few decades causing students to wonder of “How will I pay for all of this?”   This question is more prominent than ever before, regrettably.  For the fortunate, there is either a college fund already set in place by parents or a family member or mom and dad have taken out a loan to pay for college, but not everyone comes from such prosperous households.  For those who haven’t saved or planned for college tuition and aren’t as lucky as the aforementioned group–well, the options can be very slim, but there are options.      

And it’s not just the college tuition, but everything that surrounds college life that can be so expensive.  From the books and binders to registration fees and food, college is more than a pretty penny these days.  Just thinking about how much it all costs creates headaches, now imagine wondering where the money will come from –that causes stress-levels to skyrocket.  Thankfully, the government has already created a solution; the government wants you to go to college, therefore they give you options so that you can pay for it –later.  Under the umbrella of financial aid, the government’s solution to the high prices we have pay to in order to be educated at the university level, are a few subcategories, namely Work-Study, Scholarships, Need-based Awards, Federal Pell Grants, and Student Loans.

To learn about how each financial aid works, read below.

Work-Study

This program offers students in need, of both undergraduate and graduate levels as well as full and part-time, the opportunity to work  while studying.  Of course, there is a limit on the hours permitted and that will be determined by the school’s funding and the programs in which the student is enrolled.  Students will not be paid more than the state’s minimum wage and in some cases, more likely for graduate programs, students can earn a salary rather than an hourly wage.  Some jobs will be on-campus while others are off-campus, this will depend on what is available at the time the student registers.  Not every institution is involved with work-study programs, so it’s best to consult the Financial Aid office on campus; inquire within.    

Scholarships

While the list is lengthy and can be overwhelming, there appears to be a scholarship for every type of student out there today.  From sports to the arts and from academic to ethnic –there is a scholarship for everyone.  The only problem is the rest of the world is also applying for the same scholarships.  Not only are the scholarships highly competitive, but they do not come in large quantities meaning under each category scholarships are limited.  However, this should not discourage students from applying to as many scholarship as they’d like; one student can apply for multiple scholarships at the same time.  Scholarships can cover a student’s entire college career, a few years, or a portion of the tuition –all of that will be determined by the governing distributors.  Most students begin looking into scholarships in the third and fourth years of high school.

Need-Based Awards:

For students who believe that either they don’t earn enough to pay for college or that their families’ salaries are not substantial enough to cover the cost, there is the need-based aid.  There are two types of applications for need-based aid, the FAFSA and the PROFILE –both can be filled out online or in hard-copy format.  Some institutions require the FASFA, others the PROFILE application, whereas others require both.  Students must do their homework and inquire about which application suits the institution.  All need-based awards will demand copies of tax returns and/or W-2s; therefore, students should either have their own documentation or that of their parents.  How a student applies varies –if a student is claimed by his/her parents on tax returns –the students is dependent, if not –the student is independent.

Federal Pell Grants

Grants are money awarded to students –and students do not have to pay them back.  It is gifted money straight from the government.  While the grants have a cap, in many cases no more than $5,000 per year, they are helpful for students who have a great need.  Also, students cannot receive such grants for more than six years or 12 semesters; when the time grows close to running out, the government will send a notice.  Factors that will affect the amount granted include the following: the student’s need, the program cost, if the student is full or part-time, the amount of time the student plans on studying (more than a year).

Student Loans

Like any other loan, this is money borrowed that must be paid back.  There are government-funded student loans and private-funded student loans; students should investigate which type of student loan suits them best.  The lender will determine the rates, the policies, and the payment schedule, but there is no shortage of student loans on the market; therefore, students should shop around and educate themselves about the details pertaining to student loans.  Each loan institution has a particular set of rules regarding payment plans, defaults, and deferments –students are advised to inquire about such issues prior to signing any contract.  Student loans do not have to be paid back while the student is studying or if the student, after graduation or a hiatus, returns to his/her studies.

Conclusion

These are the most popular forms of financial aid available, of course there are other options and students should inquire either at the university or the current institution where they are enrolled.  Paying for college is no easy task, therefore making a decision should be done with plenty of knowledge and patience.  There is no rushing here, students should plan ahead, ask questions, and learn how each type of financial aid functions prior to making any decision.  In some cases, consulting a money expert, school counselor, and/or financial aid professional are all highly recommended.    

The post How Does Financial Aid Work appeared first on Texas Title Loans.

Credit cards are an important thing to have. They not only give you a line of credit, they also show on your credit report, which means that a good card has the power to help raise your credit. Finding the right card can be tricky, though. Are you looking to help build your credit? Are you in it for the rewards? Do you want the highest credit limit, the lowest interest rates, or are you looking for a happy medium?

No matter what you need from a card, there is one out there that can help you. The trick is just finding the right one. That’s why we’ve complied this handy list of the best new credit cards to hit the market in 2016 and tell you about the uses and perks of each one.

Best Rewards Card: Chase Sapphire Preferred Card

This card is a loaded rewards card. It’s good for travel, it’s good for bonus points, and it has a pretty good signing bonus. Tie it to your Ultimate Rewards account and you’ll get even more bang for your buck. The Chase Sapphire Preferred Card lets you make the most of your bonuses, allowing you to use your rewards a cent at a time.

2016 new cardholders can get 50,000 Ultimate Rewards points just for signing, which can get you $625 in Travel Rewards when you spend $4,000 on purchases in the first three months of opening your account.

Double rewards on travel and dining help you get the most out of the things for which you use your card, and your rewards can count for credit on your statement, not just for travel. Other highlights include:

• 1:1 ratio for use at hotel and airline partners when you use their loyalty programs
• 1.25 – 2.5% rewards rates
• Rewards usable on credit card statements

Best Secured Credit Card: Discover It Secured Credit Card

Secured cards work wonders for those with bad or no credit history. They’re not great for overall use, but they allow those with less than perfect credit to get a card by putting down a deposit to help cover issuer’s losses should you default on your payments.

The Discover It Secured Credit Card works with you actively to help you with everything a secured card should do. There is no penalty for the first time you pay late, and it will give you access to your FICO score on each monthly statement.

Other highlights include:

• No expiration and no minimum redemption amount for rewards
• The card reports to all three credit bureaus
• After 12 months, you are automatically evaluated on a monthly basis to see if qualify for a regular, unsecured card

Best Credit Card for Air Miles: Capital One Venture Rewards Card

If you’re a frequent flyer, the Capital One Venture Rewards Card will get you up and in the air faster than any non-loyalty card out there. Start with a signing bonus of 40,000 miles when you spend $3,000 on purchases in the first three months of opening an account.

After that, you get double miles per dollar on every purchase every day. Where the Capital One Venture Rewards Card does better than many of its competitors is that isn’t just tied to partner airlines and hotels. You can use it for any airline and any hotel, with no blackout dates.

Miles don’t expire and there is no limit to how many you can earn, so you don’t have to worry about losing your rewards. What is better, if you decide to use your card abroad there are no foreign transaction fees.

Check out some of the other highlights of the card:

• No annual fee for the first year
• No limit on travel locations

Best Student Credit Card: Discover it for Students

There’s a reason the Discover it cards appear in more than one place – they are great at specializing to help cardholders get the most out of their cards. The student card doubles down, helping students new to the credit card game build their credit history while still maximizing benefits. It even provides some incentive to study.

The card rewards student for good grades by getting cardholders $20 cash back each year for a GPA of 3.0 or higher, and it is perfectly usable on a study abroad trip with no foreign transaction fees.

Compared to other student cards, it keeps interest relatively low, with no APR on purchases for the first six months, and APR as low as 13.24% after that. And, if you ever misplace the card, you can prevent new activity on the card instantly with the Freeze It feature available online and on the Discover mobile app.

Additional highlights:

• No annual fee or overlimit fee
• No fee on first late payment
• Earn 5% cashback on categories like gas, food, and Amazon purchases
• FICO score on your monthly statement to track your credit

Best Credit Card for Balance Transfer: Chase Slate

If you are looking to ditch your current card, the Chase Slate card will help you bring your balance over. Named the best balance transfer option by MONEY Magazine for three years running, the Chase Slate card offers a $0 introductory balance fee for transfers made in the first 60 days of account opening.

On top of that, the card will also get you 0% APR for the first 15 months on any balance transferred, and no annual fee. You’ll even get to see your FICO Score free to see if your balance transfer is impacting your credit. Add onto that no penalty on your APR for paying late, and the Chase Slate card is enough to make anyone transfer over.

The Slate card does not come loaded with the same rewards as other Chase cards – you won’t get any points for your daily spending. If you’re looking for an easy, affordable tool to pay down other balances, though, the Slate card really outshines all others.

The post Best Credit Cards for Bad Credit appeared first on Texas Title Loans.

If you live in Texas, then you have probably heard of title loans, which are a very popular option there for people who have found themselves in a financial situation where they need cash quickly. These loans are popular because they do not require borrowers to have good credit, or even any credit for that matter. In fact, all that is needed to qualify for them is a lien-free vehicle title that can be used as collateral on the loan and regular income that can be used to repay the loan when the time comes.

Borrowers love how very easy it is to get these loans, and they also enjoy the fact that they can continue driving their vehicles as they pay back the loan. There really are many wonderful things about title loans, and they are definitely worth considering when you’re strapped for cash.

Lost Your Title?

One of the most common problems people have when they’re applying for title loans is not being able to locate their vehicle titles. Through moving and just life in general, people often lose the physical copies of their titles.

Fortunately, learning how to get a title for a car in Texas is not hard. In fact, the Texas division of motor vehicles (DMV) makes the process very simple. You just fill out a form which serves as your application for a certified copy of your title and then pay a small fee. From there, you just have to wait until your new title arrives.

Expediting the Process

Now that you know how to get a title for a car, your next concern might be about how long it will take to get your new title. Unfortunately, it can sometimes take a few days or, depending on how busy your local DMV is, a week or longer.

If you’re like most people who take out title loans, you probably want your cash faster than that! You can ask your local DMV branch if they offer expedited service; some branches do for an additional fee.

If that is not an option, talk with your lender. Some will still lend to you if you can prove that you have requested a copy of the title. That varies from lender to lender, though, but if you really need your cash right away, it’s worth it to keep searching until you find a lender that will work with you in this regard.

Title loans are great and are easy to get, but they’re not quite as easy to get when you can’t locate your title. Fortunately, though, your local DMV is a great resource and can provide you with a copy of your title. It can also let you know if there are any liens on your vehicle and, if so, what you will need to do to clear them in order to qualify for a title loan.

Use the DMV to your advantage, as well as the helpful information here, and you should have your replacement title and your loan funds before you know it!

The post How to Get Title for a Car in Texas appeared first on Texas Title Loans.

Credit cards are an important thing to have. They not only give you a line of credit, they also show on your credit report, which means that a good card has the power to help raise your credit. Finding the right card can be tricky, though. Are you looking to help build your credit? Are you in it for the rewards? Do you want the highest credit limit, the lowest interest rates, or are you looking for a happy medium?

No matter what you need from a card, there is one out there that can help you. The trick is just finding the right one. That’s why we’ve complied this handy list of the best new credit cards to hit the market in 2016 and tell you about the uses and perks of each one.

Best Rewards Card: Chase Sapphire Preferred Card

This card is a loaded rewards card. It’s good for travel, it’s good for bonus points, and it has a pretty good signing bonus. Tie it to your Ultimate Rewards account and you’ll get even more bang for your buck. The Chase Sapphire Preferred Card lets you make the most of your bonuses, allowing you to use your rewards a cent at a time.

2016 new cardholders can get 50,000 Ultimate Rewards points just for signing, which can get you $625 in Travel Rewards when you spend $4,000 on purchases in the first three months of opening your account.

Double rewards on travel and dining help you get the most out of the things for which you use your card, and your rewards can count for credit on your statement, not just for travel. Other highlights include:

• 1:1 ratio for use at hotel and airline partners when you use their loyalty programs
• 1.25 – 2.5% rewards rates
• Rewards usable on credit card statements

Best Secured Credit Card: Discover It Secured Credit Card

Secured cards work wonders for those with bad or no credit history. They’re not great for overall use, but they allow those with less than perfect credit to get a card by putting down a deposit to help cover issuer’s losses should you default on your payments.

The Discover It Secured Credit Card works with you actively to help you with everything a secured card should do. There is no penalty for the first time you pay late, and it will give you access to your FICO score on each monthly statement.

Other highlights include:

• No expiration and no minimum redemption amount for rewards
• The card reports to all three credit bureaus
• After 12 months, you are automatically evaluated on a monthly basis to see if qualify for a regular, unsecured card

Best Credit Card for Air Miles: Capital One Venture Rewards Card

If you’re a frequent flyer, the Capital One Venture Rewards Card will get you up and in the air faster than any non-loyalty card out there. Start with a signing bonus of 40,000 miles when you spend $3,000 on purchases in the first three months of opening an account.

After that, you get double miles per dollar on every purchase every day. Where the Capital One Venture Rewards Card does better than many of its competitors is that isn’t just tied to partner airlines and hotels. You can use it for any airline and any hotel, with no blackout dates.

Miles don’t expire and there is no limit to how many you can earn, so you don’t have to worry about losing your rewards. What is better, if you decide to use your card abroad there are no foreign transaction fees.

Check out some of the other highlights of the card:

• No annual fee for the first year
• No limit on travel locations

Best Student Credit Card: Discover it for Students

There’s a reason the Discover it cards appear in more than one place – they are great at specializing to help cardholders get the most out of their cards. The student card doubles down, helping students new to the credit card game build their credit history while still maximizing benefits. It even provides some incentive to study.

The card rewards student for good grades by getting cardholders $20 cash back each year for a GPA of 3.0 or higher, and it is perfectly usable on a study abroad trip with no foreign transaction fees.

Compared to other student cards, it keeps interest relatively low, with no APR on purchases for the first six months, and APR as low as 13.24% after that. And, if you ever misplace the card, you can prevent new activity on the card instantly with the Freeze It feature available online and on the Discover mobile app.

Additional highlights:

• No annual fee or overlimit fee
• No fee on first late payment
• Earn 5% cashback on categories like gas, food, and Amazon purchases
• FICO score on your monthly statement to track your credit

Best Credit Card for Balance Transfer: Chase Slate

If you are looking to ditch your current card, the Chase Slate card will help you bring your balance over. Named the best balance transfer option by MONEY Magazine for three years running, the Chase Slate card offers a $0 introductory balance fee for transfers made in the first 60 days of account opening.

On top of that, the card will also get you 0% APR for the first 15 months on any balance transferred, and no annual fee. You’ll even get to see your FICO Score free to see if your balance transfer is impacting your credit. Add onto that no penalty on your APR for paying late, and the Chase Slate card is enough to make anyone transfer over.

The Slate card does not come loaded with the same rewards as other Chase cards – you won’t get any points for your daily spending. If you’re looking for an easy, affordable tool to pay down other balances, though, the Slate card really outshines all others.

The post Best New Credit Cards in 2016 appeared first on Texas Title Loans.

Getting an emergency loan without going through a lengthy approval process was like a dream until the emergence of a title loan as an effective alternative source of money. It is now an easily accessible financial tool for most of the Americans living on paycheck to paycheck.

A title loan also known as auto title loan is a short-term secured loan approved within just a few minutes. The unique feature of this loan as compared to a traditional loan is that its lenders never check your credit score, financial history, bank account details, or job status while granting a loan. In order to obtain a loan, you just need to produce a lien-free vehicle title and an ID proof. The loan estimation is done based on the value of the vehicle. In the US, some title lenders offer more than 70% of the value of your vehicle, while allowing you to drive your dream car. However, you have to surrender the title of your vehicle till the repayment of a loaned amount.

Title Loan Default

Loan default is a situation, when a borrower fails to repay a loan as per the terms agreed to in a promissory note. Where the constitutional provisions allow a lender to take necessary legal actions against the borrower to recover the loaned, the lenders are barred from taking extreme measures like physical attacks, forcefully takeover of assets or any such measures that may spoil the dignity of a borrower for recovering the loan.

It is a myth that most of the lenders charge interest rates so high that the borrowers find it quite difficult to repay the loan and ultimately end up defaulting a loan. The title loan industry in the US has undergone major positive transformations over the years. The number of title loan companies has increased considerably in the past few years. The loan market is now highly competitive. The companies come up with lower interest rates and multiple repayment options in order to win the hearts and minds of the customers by enabling them to repay the loans in affordable installments and avoid defaulting.  Some lenders even allow customers to renew it for a fee in case they are unable to pay off.

Currently the vehicle title loan market enjoys legal status in more than 20 states in the country. Over the years the federal and state governments have made meaningful amendments in their financial laws, so as to protect the rights and interests of the customers.

• The military APR (annual percentage rate) for car title loans bearing a tenure of 181 days or less should not be more than 36% as per the federal law.
• In Illinois, the state government has imposed restrictions on lenders in providing loans with balloon payments, so that the customers can repay the loan in equal installments, similar to conventional vehicle loans.  Further the loans can be refinanced, but only if the customer has paid up to 20% of the principal on the loan.
• In several states, the title lenders cannot charge interest rates arbitrarily.  The Federal Truth In Lending Act legally binds the lenders to disclose all cost of the loan amount.
• The Federal Trade Commission declares that a lender cannot make threats of physical force against a customer under any circumstances.

How to Avoid Title Loan Default?

Proper Planning – The first and foremost step to be taken to avoid a loan default is proper planning.  You should make wise use of money and avoid unnecessary expenses.

Don’t Take New Loan – How tempted the new loan offers maybe, you should voluntarily refrain from taking it since you are already having a loan due. You should always try to clear the previously taken loan amount, or else the financial burden will be increased.

Focus on Small Saving – Just as a proverb goes: ‘little drop of water makes a mighty ocean’. Similarly,  your modest saving will really help you a lot at the time of debt repayment.

Opt for a reliable lender – You must select a credible lender, who has years of existence in this business.  This is because a reliable lender will never mislead its customers.

Critically analyze loan terms – You should minutely review all terms and conditions of a title loan. In case you face any trouble in understanding, it is always better to take the help of an expert, who can easily guide you.

Payment Options: You should explore various payment options so that you can make your monthly payment on time.

Roll over Option: In some case, opting for the rollover option is better if you fail to pay the installment. The lender will allow you ‘rollover’ the loan into a new loan.

On the whole, it can be said that there are certain exceptional circumstances, which may compel a customer to default a title loan, in actuality he/she always wants to avoid such situations. However, with the emergence of title loan and its hassle-free process along with the flexible payment options offered by the lenders, being financially secure at the time of financial straits has become extremely easier. It is only by virtue of the amazing quality of this amazing and quick cash facility people are now able to make proper management of their unexpected expenses.

The post What Happens When You Default on a Title Loan? appeared first on Texas Title Loans.

Why Do People Take Out Loans?

Loans are not often talked about -it seems they are slightly taboo.  Much like chatting about salaries and how much we pay for rent or houses, loans are not acceptable topics and we never raise such topics in public.  Loans are avoided and even hushes in certain circles; even among family, loans are not dinner table talk.  So when do we talk about loans?  Hardly ever, really, but here we will discuss why people need loans and the possibilities of getting one.

Do You Need a Loan?

The reason for needing a loan is personal and, well, subjective.  Where one person sees a need for a loan, another may not.  But that’s neither here nor there.  The point is, if you feel you need the money –well, you need the money.  Period.

Of course, there are more serious reasons why people need loans.  It can be an unexpected accident or sickness that lead to a hospital stay, it can be a family emergency, it can also be an unanticipated lay-off from work –these are dire situations that call for fast cash without hassles.

There are less immediate reasons that don’t demand the same instant solution as the aforementioned ones.  From refurbishing a home to paying for college, there are more personal reasons for loans.  Clearly, these loans are not as severe, but they are of pronounced importance to some people.

Then there are reasons that don’t require immediate attention such as a plastic surgery or a vacation.  Although, it’s not advisable to take out a loan for such reason, however some people are not willing to accept no and will go to great lengths to acquire things they want.

Why People Take Out Loans?

The reason is quite simple –not enough money.  The problem can be that the person doesn’t earn enough or that the person is not very prudent with savings and spending.  Either way, the person doesn’t see a way out of the situation without the help of a loan.

Reasons for Taking Out a Loan

In some cases, family or friends can’t provide enough financial support to the person, hence the loan –assistance from an outside source.

In other cases, there is no family or friends to help, therefore the person seeks the assistance of a loan –the loan acts as source of support when close ones don’t exist.

Types of Loans

Bank loans give people loans who can prove, without a doubt, that they are able to pay the loan back.  How does the person prove this?  With lots of documentation in the form of the following:  credit history, employment proof, salary and tax slips, references, proof of assets among other paperwork.  For most people –the pile of paperwork is daunting not to mention the waiting period.  Not many qualify and those who do are very fortunate.

Credit unions offer loans to those who are affiliated with unions or have certain contracts or employment.  This group is, to be honest, quite exclusive and without the proper connection a credit union loan is nearly impossible.

Payday loans are based on the amount one earns.  In order to get a payday loan one needs to be employed and must have paycheck stubs or direct deposit receipts dating back to a few months ago if not a year.  These loans use the applicant’s salary as the basis for the loan amount; likewise the payment plan will be selected in conjunction to the applicant’s wages.

Title loans are based on the applicant’s vehicle.  The only requirement of this loan is the car’s title or car payments on a car that is nearly paid-off.  No other documentation, besides a valid photo ID with at least 18 years of age, is requested to get a title loan.

Loans for People with No Credit/Bad Credit

Most loans require at least a few documents to establish a level of trust between borrower and lender.  For some, that can be difficult.  For others, it can be impossible.

Let’s take some of the serious reasons people need loans and apply it to this situation.  What is the person under financial crisis doesn’t have sufficient proof for a standard loan?  What does that person do?  Well, they could try a payday loan, but those loans often use credit scores as part of the process.

In such a situation, a person would need a title loan –a loan that doesn’t demand much for the applicant who is under the heavy hand of a money matter.  Title loans do not use credit scores to determine a borrower’s loan because under the rules of a title loan the only determining factor is the value of the vehicle.

Benefits of Title Loans

Because there are no large endeavors when it comes to getting a title loan –no mountain of paperwork, no waiting periods, no credit checks –borrowers can get cash for their car in a matter of hours.  When the applicant doesn’t have to suffer for lack of paperwork or a past mistake, this removes pressure making title loans a perfect solution.

Title loans only require one application that can be filled out in a few minutes.  In comparison to other loans, this is quite a difference.

Because title loans do not use the borrower’s credit history as a precursor for the loan, borrowers can feel at ease knowing that a huge weight has been lifted.

Title loans allow the borrower to leave with their car.  Although very similar to a pawnshop situation, title loans do not require the borrower to hand over their goods –or in this case, their car.  Maintaining possession of the car is an extremely positive attribute for title loan borrowers who need their car for work purposes.

If you find yourself in a financial problem and see no light at the end of the tunnel, be aware that title loans are here to help you see the light and help you make your way towards the end of the tunnel.  Title loans are the best loan on the market for those who might not qualify for a regular loan or any other loan for that matter.

 

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Money Tips for Young Adults

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