These loans account for about 35% of all consumer credit outstanding.
What is an auto loan?
100
These are the federally sponsored student loan programs
What is Stafford, Perkins, and PLUS loans
100
This is an application that gives a lender info about the purpose of the loan
What is a loan application
100
These offer various types of loans at attractive rates of interest
What is commercial banks
100
A method of computing finance charges in which interest is charged on the actual loan balance outstanding
What is simple interest method
200
These loans are used for home appliances, TVs, home computers, etc.
What is loans for durable goods
200
These student loans have the best terms and are the foundation of the government's student loan programs
What is Stafford and Perkins
200
This is a legal claim permitting the lender to liquidate the items serving as collateral to satisfy the obligation
What is a lien
200
These are sometimes called small loan companies
What is a consumer finance company
200
a method of calculating finance charges in which interest is computed and then subtracted from the principal, with the remainder being disbursed to to the borrower
What is discount method
300
These loans are used for students
What is education loans
300
These are supplemental loans for undergraduate students
What is PLUS loans
300
This is a mortgage on personal property given as security for the payment of an obligation
What is chattel martgage
300
a cooperative financial institution that is owned and controlled by the members who use its services.
What is credit unions
300
A method of calculating interest by computing finance charges on the original loan balance and then adding the interest to that balance
What is add-on method
400
These loans are used for non durable expenditures
What is personal loans
400
This website provides details on all major student loan programs.