To proceed, select the user link below that applies to you.APR is the interest rate calculated across the lifetime of your agreement, including any fees (total cost of credit).Along with traditional banks and credit unions, you also can find personal loans at online banks, such as Discover; online nonbank lenders, such as So Fi; and peer-to-peer lenders, such as Lending Club.You don’t have to accept the first offer you get for a personal loan. Here, Bankrate offers some of the pros and cons for those considering taking out a personal loan.A personal loan can be a good way to consolidate existing debt, such as credit cards, says Kathryn Bossler, a financial counselor at the nonprofit Green Path Debt Solutions. You may be able to lower your monthly payment and interest rate.” As of November, the last month for which figures are available, the Federal Reserve reported the average rate on a 24-month personal loan was 9.7%, while the average rate on a credit card that was assessed interest was 13.7%.Some personal loans carry rates of 6% or 7% for the most creditworthy consumers.You may be asked to provide additional documents to enable us to verify your identity and application information.Geber86/E /Getty Images Maybe you’re looking for a way to pay down your holiday debt, cover the cost of a car repair or pay for your wedding.
If the loan/grant is not one of the program types listed above and is not assigned to the U. Department of Education, the information on this site does not apply to you.Federal Pell Grants, Federal Supplemental Educational Opportunity Grants (FSEOG), Academic Competitiveness Grants, National SMART Grants, and TEACH Grants.In certain instances, you may have to repay part of a Federal grant awarded to you.You should always check to see how long your fixed rate lasts.When a rate is advertised as variable, it means that it could go up or down. The percentage rate charged on a loan is fixed which means you can be sure it won't go up during the duration of your loan.