Posts Tagged ‘money’
College is one of lifes biggest expenses, but its also the best way to increase your earning potential. In fact, a college education can lead to a salary thats up to $20,000 higher annually when compared to salaries for workers who only have a high school education. Fortunately, there are ways you can lessen your financial load today so you can reap the rewards of a higher education tomorrow.
To qualify for financial aid, you first need to fill out the Free Application for Federal Student Aid (FAFSA). This form can be completed online and is used to help determine your households college contribution, based on income and assets. After youve submitted your application and received your award letter, you should begin applying for scholarships and grants.
If you still need money for school after receiving scholarships and grants, you should apply for government loans first. A popular option is the Stafford Loan which nearly all students are qualified to receive, regardless of need or credit history. Features include low, fixed interest rates, flexible borrowing limits, and payments that do not begin until after graduation. There are two types of Stafford
Loans:
• Subsidized loans are based on financial need and interest does not accrue on the loan as long as you are enrolled as a part- or full-time student.
• Unsubsidized loans are not based on financial need and interest begins accruing at the start of the loan.
If you still have a financial gap after applying for government loans, you may want to pursue private loans. These loans are offered though financial organizations and typically have higher interest rates than government loans. To find the right private loan for your situation, visit several financial organizations to see what each can offer. You should find out how much money you are able to borrow, the loans interest rate, and if payments can be deferred while you are in school. Also, ask about administrative costs associated with the loan and what options you have for repayment.
At Affinity Plus, you may qualify for the Student Choice Private Loan The advantages include one application for your entire four-year college experience, no administrative costs, low interest rates, deferred payment until after you graduate, a flexible grace period before payments begin, and the option to release the co-borrower after 48 months of on-time payments.
Affinity Plus also offers the Student Choice Line of Credit with features including low, fixed interest rates, tax-deductible interest, and low monthly payments. However, this option does not offer deferred interest and repayment begins as soon as funds are advanced.
Visit your local Affinity Plus branch location today for answers to your questions about college financing. Our financial professionals are available for one-on-one consultations and can help you create an individualized plan to pay for college. Well help you find the right loan options for your situation, says Hodenfield.
For more information about college financing, free workshops, or to make an appointment with an Affinity Plus Federal Credit Union financial professional, please call (888) 830-2280.
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Getting married is one of lifes most important milestones. However, before tying the knot, you and your partner need to have an honest conversation about your finances to make sure you are on the same page. Money can create a lot of discord if two people have differing viewpoints on how it should be spent and saved, says Debbie Bruns, Director of Branch Services with Affinity Plus Federal Credit Union. An open line of communication helps ensure a financially successful marriage.
Discuss financial goals: For example, try setting a savings goal together and decide how much each partner will contribute toward it each month.
Credit score: Learning your partners credit score can give you insight into his or her financial history and money management.
Prenuptial agreement: If one partner has significantly more assets than the other, a prenuptial agreement can be a smart move to protect each partners property.
Strategies to make your wedding a success
Work with a financial professional • Prioritize whats most important • Start saving now • Plan for the unexpected
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During the month of September, Affinity Plus will help you uncover myths surrounding savings and investing strategies. There is no better time to start saving then now, so visit onthemoneymn.com to learn how – no matter what your income is
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If you’re like most Americans, your trust in financial organizations started to crumble shortly after the economy did and as a result has left you wondering who to count on financially. In these difficult times, many of you have lost your job, put your child’s education on hold, postponed retirement or maybe just skipped a vacation. At Affinity Plus, we know the financial crisis has affected your life somehow. We can help you reach your goals no matter what the economic climate is, so you can have confidence in your future. Please call (888) 830-2280, go to www.onthemoneymn.com or visit one of the many Affinity Plus Federal Credit Union branches located throughout Minnesota to get help in taking charge of your finances.
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Get caught up in the excitment of buying a new car at www.onthemoneymn.com
A new vehicle is one of the most expensive and emotional purchases you’ll make during your life; therefore, it’s important to do your research ahead of time. You will avoid paying more than you should, which allows you to enjoy the auto-buying experience. Affinity Plus financial experts offer auto-buying advice so you can drive off the lot satisfied with your new vehicle.”We believe in helping our members with auto buying from start to finish,” Mason says. “We want people to be able to find a vehicle they love at a price they feel is right.”
For more information visit www.onthemoneymn.com or to make an appointment with an Affinity Plus Federal Credit Union financial expert, please call (888) 830-2280.
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Life is becoming more expensive, which may force you to find unique ways to finance your goals beyond traditional methods, such as personal loans and credit cards. Home equity loans are one way that you can finance life events and not feel the pinch of high rates and payments. At Affinity Plus, our financial experts offer home equity advice that starts with you first. For more information about financing life events or to make an appointment with an Affinity Plus Federal Credit Union financial expert, please call (888) 830-2280.
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You have choices when it comes to banking and credit unions provide the same financial services as banks. In addition to treating members warmly, credit unions also provide personal benefits. We make a profit for our members, not from them, says Duke. Ninety percent of Affinity Pluss profits are returned to our members and the communities we serve, allowing us to give back to our members in the form of several value-added services, such as a Preferred Realtor Program, free auto buying concierge services, a free credit report each year, and free financial workshops and seminars.
When you join a credit union you become part owner, receive benefits, can make deposits anytime and anywhere and your deposits are insured up to 250,000 by the NCUA.
To learn more about how a credit union can help you or to make an appointment with an Affinity Plus Federal Credit Union financial expert, please call (888) 830-2280 or visit www.onthemoneymn.com.
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Affinity Plus On the Money is a partnership between Affinity Plus Federal Credit Union, WCCO-TV and the Star Tribune. The program strives to provide straightforward information about money to enable people to make smart financial decisions.
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At Affinity Plus, our focus is helping people get smart about the housing market. At OnTheMoneyMN.com, experts discuss why you need to be informed – even in a buyer’s market. Learn how to negotiate a good deal by taking the proper steps and know the importance of doing a line-by-line comparison when looking at closing costs so you can get the most for your money. Affinity Plus On The Money is a partnership between Affinity Plus Federal Credit Union, WCCO-TV and the Star Tribune.
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When it comes to your credit and credit score, it pays to get smart. Your credit score can have a major impact on your life and expenses. Credit scores can affect your ability to rent housing, your loan rate, your insurance premiums, and even your credibility for potential jobs. It is important to understand your credit score so you can improve it. At Affinity Plus Federal Credit Union, financial experts are on hand to help people understand their credit and improve their credit scores. They don’t just tell their customers they need to fix their credit, they do their best to help them get on the path to improving it. For more information or to make an appointment with an Affinity Plus Federal Credit Union financial expert, please call (888) 830-2280 or visit www.onthemoneymn.com.
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