Is it illegal to earn interest on unsubsidized loans?
February 7th, 2010
I’m a student and I get many offers from the government and private companies for subsidized and unsubsidized loans. For those who don’t know, unsubsidized loans are loans where the interest is paid by the government or private company until 6 months after I graduate or become less than a full time student. So it could theoretically be a free loan assuming I repay the principle within those 6 months, therefore avoiding interest.
My question is can I take out these loans and place the principle in high yielding CDs or savings accounts until it is time to pay them back? This way I make money on the interest from the loans, build credit, and won’t have to pay interest. It seems like the government and private companies probably would not want me to do this as I am profitiing from a service that they are hoping to eventually profit from. That’s why I question if it is illegal in some way. Thanks.
You can only get the amount you are eligible for. Unless you have a hidden source of funds you won’t be able to get enough money to do this ridiculus scheme.
This scheme is not illegal per se but…its only illegal if you have to lie to get this money
Posted in loans
What Will They Tax Next?
February 4th, 2010
This video – campaigning against Britain’s record and wasteful burden of tax – is the first of 18DoughtyStreet.com’s weekly political adverts.
Through these ads, which will be designed and chosen by 18DoughtyStreet.com viewers, we aim to challenge Britain’s grey political consensus.
Duration : 0:1:54
Tags:
Personal Finance & Money Management Tips : Tips on Refinance Rates
February 4th, 2010
Refinance is a secondary market term in the mortgage business for when a rate is expired and the borrower must renegotiate the loan. Better know what refinancing is and the terminology to go along with it through tips and advice from an experienced financial adviser in this free video.
Expert: Patrick Munro
Contact: www.northstarnavigator.com
Bio: Patrick Munro is a registered financial consultant (RFC) with outstanding sales volume of progressive financial products and solutions to the senior and boomer marketplace.
Filmmaker: Reel Media LLC
Duration : 0:1:8
Mortgage Refinance – refinance,finance NJ&NY area.
The Schiff Report Video Blog June 1, 2009