Author: Sulaiman Abdur-Rahman

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Are your finances in murky waters? Watch out for loan sharks!

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  A loan shark is a person who lends money at an unlawfully high rate of interest or who threatens violence to collect debt payments. Loan …

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Here’s how to get out from under your payday loan

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  Payday loans are short-term consumer lending products that can carry high fees, especially when measured as an annual percentage rate of interest. A $100 payday …

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7 financial aid secrets students need to know

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As a student (or parent) it can be easy to focus solely on the college application process, and completely forget about financial aid. You spend so …

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These luxury cars have the highest maintenance costs

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Luxury cars generally have high maintenance costs. You can spend thousands of dollars maintaining an Audi, BMW, Jaguar, Lexus, Mercedes-Benz, or any other luxury car brand. …

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Are you paying too much interest on your car loan?

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The average interest rate on a car loan is generally higher for used vehicles than new vehicles. For vehicles financed in the fourth quarter of 2021, …

FeaturedMoneyMortgages

Should you take a loan for mortgage closing costs?

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Borrowers with good credit may get a personal loan for mortgage closing costs. Bringing personal loan money to the closing table can help you finalize your …

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Can you really build wealth using debt?

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Taking on new debt is not always so bad. Sometimes it makes sense to borrow money with a promise to repay the debt, particularly if you’re …

FeaturedLifestyle

How to help the teens in your life prep for College Decision Day

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After four years of hard work in high school, the college acceptance letters begin to roll in. If a student is lucky enough to receive multiple …

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17 ways to make financial freedom a reality

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Ever dream of walking out of your job, free to pursue a project you’ve always dreamed of starting? Or going back to school without taking out …

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Can’t afford moving expenses? There’s a loan for that!

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Moving across town, out of state, or internationally can be costly, but consumers have a variety of options to finance such a move. You may consider …

AutosFeatured

Don’t fall for these 7 auto loan scams

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  Auto loan scams can deprive consumers of their hard-earned money. Some of the most common auto loan scams include car title loan scams, change in …

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Why you need to know more about the Fair Credit Reporting Act than you do

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The Fair Credit Reporting Act is a federal law that restricts who can access your credit report. It gives you the right to obtain your credit …

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There are a lot of different personal loans. Here’s how to choose the right one?

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Personal loans are consumer lending products that provide you with a lump sum of cash to be repaid under terms and conditions of a loan agreement. …

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Need $5k right now? Here’s when you should (or shouldn’t) get a personal loan

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Getting a $5,000 personal loan may not require good or prime credit. Subprime borrowers with fair credit scores between 580 and 669 can qualify for $5,000 …

FeaturedFood & DrinkMoney

Need new kitchen appliances? There’s a loan for that!

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Appliance loans can cover the cost of kitchen appliances. These appliances, including refrigerators, dishwashers, ovens, microwaves and stovetops, can individually cost hundreds or thousands of dollars. …

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What is a fixed-rate loan?

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A fixed-rate loan is a lending product that allows eligible consumers or businesses to borrow money with an interest rate that does not change over the …

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Here’s when credit card companies report to credit bureaus

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Editor’s note: Lantern by SoFi seeks to provide content that is objective, independent and accurate. Writers are separate from our business operation and do not receive direct …

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8 reasons why good credit is so important

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Credit matters when looking to buy a house, car, or any other pricey asset. Unless a consumer is flush with cash, the path to home and …

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What credit score do you need to buy a car?

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Because a credit score is an important indicator for determining a consumer’s creditworthiness when buying a car, those with excellent credit histories tend to have an …

Money

FedLoans, Granite State and Navient: Why are the loan servicers not renewing their contracts with the federal government?

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  Three organizations are leaving the federal student loan servicing business to refocus on private student loans.   FedLoan Servicing, Navient Corp. and Granite State Management …