Personal Starter Loan

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Personal Starter Loan

• Everything You Need To Know

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What is a Personal Starter Loan?

• Financial companies use the term personal
  starter loan to describe a variety of different
  financial products. One thing unites all these
  different types of loans They are generally for
  expenses involved with starting your life after
  youve finished school. And they usually have
  lower-than-average interest rates.

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• If youre interested in a personal starter loan,
  there are many options available to you. If
  youre still in school, we recommend contacting
  your schools financial aid office and asking to
  speak with a counselor. For those who have
  already graduated, check your local credit unions
  and see if they offer a starter loan. You could
  also fill our personal loan request form.

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Reasons to Take Out a Personal Starter Loan

• Reasonable car payments. For many, a car is a
  necessity. There are many options out there for
  car loans, but a starter loan might offer you the
  best APR.
• Leftover college credit card debt. Its not a
  good idea to take out a loan to pay for another
  loan. But thats true if the interest on the new
  loan outweighs the interest on the old loan.
• Moving expenses. Moving is always more
  expensive than you think it will be. When youre
  just starting out, you might not have the savings
  to fund a full-scale move.

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When Not to Use a Personal Starter Loan
There are a few situations where it doesn't make
sense to use a personal starter loan, or really a
loan of any type

• Buy a more expensive car than you otherwise
  would have
• Make any kind of investment. Loan money should
  never be used to fund an investment
• Build up your credit score. Some people take
  out a starter loan just to pay it back