Private Student Loans – dispelling the mythsWritten by Vanessa McHooley
Private Student Loans – dispelling myths If savings, grants, scholarships, and federal loans don’t cover cost of your education, it’s time to turn to private loans. But young college students can’t qualify for a private loan, can they? Wrong! This article addresses this and other myths about student loans that you may run into.I don’t have any collateral, so I can’t get a private loan. Private loans are usually unsecured, which means no collateral is required. On downside, this may also mean a higher interest rate. I don’t have a good credit history (or no credit history at all) Since government doesn’t back private loans, your credit history is a consideration in being approved for a loan. If your credit history is bad or non-existent, you may be subject to a higher interest rate. And remember, you can always get a co-signer. Pay your loan off on time, and soon you will have a good credit history! I have enough funds for tuition and fees, so I can’t get a private loan In addition to paying tuition and fees, funds from private loans can be used to cover living expenses, supplies, computers, and other everyday living needs. I can’t afford to make payments on a loan while I am still in school For most loans, your principal and interest payments can be deferred while you are enrolled in school. Another option is to make interest payments while you are in school but defer paying off principal. Your interest payments might even be tax-deductible!
| | Seeking Angel Investors?Written by Craig Rosenbaum
What preparations need to be made when seeking angel investors?In order to increase probability of obtaining capital from an angel investor, a company needs to take meticulous care in creating its investor marketing materials. Even though angels do not typically abide by same formal processes as venture capitalists, it is still important to prepare your materials in a format that can endure same scrutiny as their corporate counterparts. How can you ensure you get funds you need to thrust your business to next level? There is no simple, cookie-cutter formula. There are a lot of variables, many of which we will cover in greater detail in future articles. In meantime, let’s focus on essential elements of your marketing materials that must be well presented and thoroughly organized when attempting to raise capital. A solid management team is critically important to success of any business. Demonstrate why yours is exceptional. Angel investors want to know qualifications of management personnel. They want to see that your team can work together effectively to make your business successful. Your team should include people with expertise in marketing and selling, accounting, managing people, and product development. Angels want to see prior track records of success. Keep this in mind when assembling your management team. Perhaps you will need to solicit help from solid business community members.
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