Smart Borrower Blog

Archive for June, 2010

Chase Gives Small Businesses a Reason to Start Hiring

Jun 30th, 2010 @ 1:23 PM by Amber Nelson

JP Morgan Chase, the country’s second largest bank by assets, announced yesterday that it wants to encourage more hiring among small businesses. “We know how important it is to help small businesses because they are core to the U.S. economy,” JPMorgan Chief Executive Jamie Dimon said as quoted in a Reuters article. The bank has […]

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Wall Street Reform Inpacts Student Loans

Jun 29th, 2010 @ 8:55 AM by Debbie Dragon

Last week legislators reached an agreement to overhaul the financial system, providing the biggest changes seen since the 1930s. The legislation, does not appease everyone, but does make some significant changes that are meant to prevent another financial crisis. The proposal can be found in a 2000 page document. The plan is calling for amongst […]

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GM Looks To Fill in Subprime Lending Gaps

Jun 23rd, 2010 @ 1:28 PM by Amber Nelson

Since selling off its hold on in-house lending company, GMAC LLC, three years ago, General Motors Co. has struggled to find all the financing it needs for interested customers. Auto loans for those with subprime or poor credit scores have been the most difficult to scrounge up, a factor that is hurting GM now as […]

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Small Business Forum Controversy

Jun 21st, 2010 @ 5:49 PM by Debbie Dragon

A Small Business Forum to take place at the end of this month at the Department of Commerce has the American Small Business League (ASBL) and small business owners throughout the county up in arms. The small business forum, announced just last week, was scheduled last minute with a very small opening for registrations, making it difficult and nearly impossible for some many small businesses to attend. It is also not known as of yet if attending small business owner will have a chance to speak and voice their opinion. This has left many frustrated and wondering if they should even bother to attend.

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Fitch: Most Loan Modifications Will Fail

Jun 16th, 2010 @ 2:36 PM by Amber Nelson

As many as 75 percent of all mortgages modified through the government’s Home Affordable Modification Program (HAMP) will go into deafult again within 12 months, according a new report from Fitch Ratings. Why aren’t the modifications enough for these borrowers? Fitch says its a matter of being overloaded with other debts as well. “Many of […]

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A Look at the New Student Loan and Its Advantages

Jun 14th, 2010 @ 6:21 PM by Debbie Dragon

Students heading to college in 2010 will be the first to take part of the new student federal loan program. In the past, student loans were funded by private entities, but no longer. Here on out students will borrow directly from the federal government, which comes with some great advantages. Here is a look at what it is all about.

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Credit Card Companies Buying Their Way Into Universities

Jun 9th, 2010 @ 10:47 PM by Amber Nelson

A recent article on the Huffington Post says that for years, America’s colleges and universities have been making money from the credit card companies for giving them access to student and alumni contact information as well as allowing them special visibility at school functions. These agreements, called Affinity agreements allow universities to earn a commission […]

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Student Loan Funding Changes Begin July 1st

Jun 7th, 2010 @ 5:23 AM by Debbie Dragon

July 1st is coming up fast, and with the date come some of the biggest changes in student lending history. In the past July 1st was known simply as the day that variable interest rate student loans would adjust. Last year it also marked the start of the income based repayment program. This year it marks the new generation of student loans.

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Hey College Students – Here’s Your Wake Up Call

Jun 2nd, 2010 @ 1:07 PM by Amber Nelson

A recent story from the New York Times comparing the student loan industry to the pre-collapse subprime mortgage market has raised quite a few feathers. A follow up article said there were over 600 comments in response to the story about a young woman who is struggling to pay off her $97,000 in student loans […]

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