Student Loans

What are the Parameters Brokers follow for Student Loans

Career-oriented students desire to continue their studies after completing their grammar school. There are times when limitations come in the way of education and situations begin to become tense. Parents and the students are living through the testing times, often thinking, what should be done next, and for those who have awareness on the emergent FinTech market, obviously, they have an edge. These parents have an advantage over the others, as they can quickly find the way to student financing through reliable means like short-term student loans.
In case you are among those parents, who do not have the knowledge or awareness of the FinTech market, you need to ask the legitimate loan adviser available on the internet. The adviser will help you by providing guidance and direction when you have the intention of buying financing for your child.
Let’s discuss the parameters that the loan broker would work on, and grant the student loan to your child.

These parameters are:
• The professional loan broker is regulated by the Financial Conduct Authority (FCA), and quite likely the member of the Consumer Credit Trade Association (CCTA).
• There is no rollover on the loan, and this is especially true once again in the case of the regulated broker.
• The broker will not sell out your personal details to anyone. Moreover, the broker will not try to indulge in any unscrupulous option to make money from individual accounts that have defaulted.
• The loans are for short-term, and this clearly means the broker will arrange the funds in the manner such that repayment tenure does not cross three years.
• The loan guidance is not available to people living on high personal debt or people that otherwise show a long record of financial trouble.
• The professional broker would always keep you informed on latest deals on the loans from a lender.
• The loans are suggested to the students, who have strong intention to meet their aim for studying in the postgraduate courses or conduct research.
• The loan adviser, who is regulated, shows his commitment towards the responsible lending. Broking is always on ethical terms and ethical rates. There are absolutely no formalities on which the loans will get approved.

Find out the broker recommended deals on the short term student loans, and add financial independence in the life of your child. Make sure, you are not delaying your decision, or else your intention of educating the child would not be completed in this life.

5 Reasons to Choose Direct Lenders
The only short-term loan created just for students. We are different from most “payday” loans because we don’t roll over loans, we don’t sell your details, and we don’t try to make any money from defaulted accounts.
No late payment or other fees – just in case there are any problems with your student loan.
Our 50% interest cap is HALF of the 100% maximum cap that other lenders, like, are allowed to charge. This puts a fixed cap on how much interest you can owe us. You can never owe more than 50% of what you borrowed.
Our loans are quick, easy and flexible. The money will be transferred to your bank account the same day. You can manage all the details of your loans online, such as repaying a loan early or topping up to your limit.
Direct Lenders by students at Hertfordshire and Warwick after we saw students being treated unfairly by “payday” lenders. We honestly have your best interests at heart. If we think a loan won’t help your situation, we won’t approve it.

Loans for Students
Because our loans are designed for students, the fact you don’t own a home or have a full-time job will not impact your application. We only lend small amounts because students have low incomes, and the amount you can borrow is linked to how much you are getting for your student loan, to make sure you still have plenty of money for the next term.

What Does it Cost?
Direct Lenders loans cost 0.8% per day. Loan interest is added to the balance daily and automatically stops at 50%. If you repay early, you will only pay interest for the days you had the loan.

One way of looking at the cost of this kind of loan is the Total Cost of Capital (TCC) per £100. The total cost of borrowing £100 from us for 30 days is £24, meaning a total to repay of £124. However, because of our 50% interest cap, the TCC of a 6-month loan would be just £50 for the whole period.

The only true way of comparing the cost of a short-term loan is to decide how much you wish to borrow and for how long, and then to compare different lenders yourself by looking at the total you will have to repay.

Responsible Lending
Direct Lenders is committed to responsible lending, which is why we do our best to offer ethical rates and ethical terms. We take proof of income and make checks on your other credit obligations to make sure you can afford our loans.

Our loans are for lifestyle and emergencies and are not a long-term finance solution committed to responsible lending, which is why we do our best to offer ethical rates and ethical terms. We take proof of income and make checks on your other credit obligations to make sure you can afford our loans.

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