what are private money lenders?

Question

define them please

Answer 1

Private Lender Loans : For those who need to borrow from private lenders, the Financial Aid Office has researched interest rates, fee charges, and quality of service among several available sources. Some private lenders are looking into Master Promissory Notes.

A Master Promissory Note is a contract the student signs when taking out a one of the federal loans. This includes the Stafford Loan, Perkins Loan and Loans for Disadvantaged Students. The Master Promissory Note also covers federal loans that the student may receive for future enrollment periods. It is a legally binding agreement that the borrower signs to promise to repay the loan, with interest, in periodic installments. It may be signed either in writing or electronically.

Answer 2

Since you are in the "Education > Financial Aid" section, I'm going to assume that you are referring specifically to private educational lenders. In this context, the term "private lender" simply refers to a privately-owned company that lends money (as opposed to a federal or state agency, which can also lend money).

Keep in mind that "private lender" can still provide the money for a federal student loan (for example, a student can borrow a Federal Stafford Loan using Citizens Bank as their lender). In fact, it is more common for students to obtain their federal student loans via private lenders than it is for students to obtain the same types of loans directly from the federal government.

Private lenders of federal student loans are subject to the same strict regulations that any other federal student loan lenders are. As such, they shouldn't automatically be viewed as "loan sharks" or as being involved in price-gouging. Private loans fill a very real need, particularly with todays rising educational costs.

Answer 3

People and groups of people using their own money to lend to make money by charging interest. Some are loan sharks some are honest lenders. They are called backers in the sense they put up money for a project for a share in that project. Banks and other institutions use money deposited by savers to lend to other people and the saver and institution share the interest.

Answer 4

loan sharks who will lend you money for a short term only at about 26%interest .

Answer 5

They are commonly known as 'usurer'
Loan shark comes to mind as well.
Rip off merchants is another.

Answer 6

loan sharks

Answer 7

good friends just don't lie, cheat or be late on repayments Good Luck can you swim?

Answer 8

http://www.badcreditcash.net