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Who charges the highest on interest rate loans?
They are called loan sharks.
How is interest rate worked out for student loans?
It depends on a few things like which loan you get (federal, private, subsidized, unsubsidized) and what your financial situation is, esp. credit report and score. Federal loans offer the lowest rate. subsidized federal loans (stafford) have their interest paid by the Gov't. unsubsidized federal loans do not, but the interest you pay is very low (6-7%) and you don't have to make any payments until 1 year after you graduate. Private loans have much higher interest rates and you must pay the interest regularly while you are in school. Private loans are especially dependent on your credit, so if your rockin' a 750, you should be ok...450, well, consider community college...its way cheaper!
How do you calculate student loans?
If you can, pay interest during your grace period or periods of deferment/forbearance to avoid having interest capitalized (added to your principal) on unsubsidized loans, PLUS loans, and subsidized loans that have lost interest subsidy. Outstanding Balance1: $26,830 Interest Rate: 6.8 %
Statement about installment loans is not true?
Installment loans are loans on which the interest is paid first and the borrower receives the proceeds.
. The bank earns 10 percent on commercial loans and 12 percent on home loans. What amount of money should be allotted for each type of loan to maximize the interest income?
All of the money into home loans of course.
