|Personal loans can be an effective financial tool for students at the University of Michigan--Ann Arbor. Students may not have the ability to work full-time and earn enough income to cover all of their existing bills and living expenses. Other times, students may need to quickly access a loan to get essential supplies for their education that normal student loans do not cover. Boro is available to offer personal loans that meet all of these needs for college students. Our personal loans are obtained through an easy, convenient process.|
A personal loan has many uses
Personal loans are a quick and easy way to get the money you need to meet these expenses. You can also use personal loans to pay off other debts from things such as past-due bills, necessities for your studies, or student loans. This can be an effective way to bridge gaps in your finances by having available money for these bills through a low-interest loan. If you have periods of lowered or missing income, personal loans can also cover your living expenses during these times, until you are able to obtain consistent employment after graduation. A personal loan can also be a different way of obtaining financing, rather than something like a credit card from a bank. This will also make it easier to build credit by having a history of timely personal loan payments. The convenience of one personal loan payment will likely help increase your credit score over time.
As a student, you can also get personal loans for supplies essential to your studies such as books, computers, or other unforeseen needs. Student loans often do not cover all of a student's expenses and are usually only used for tuition and housing. You can obtain a personal loan with Boro without the hassle of applying with a lender who needs your credit score and proof of income. Institutions that require these traditional financial indicators generally omit students from borrowing, because full-time students may be unemployed. The terms for obtaining a loan through Boro are streamlined for convenience, versus banks which may require cosigners or a high credit score. Timely payments on loans for these expenses are always a good option to help build credit.
Easy requirements and application process
Young students may not have much of a financial or credit history, which makes it difficult to obtain credit cards or loans. Personal loans for college students through Boro have different requirements than most other lenders or banks. This is because of a new and unique underwriting system that does not look at traditional financial indicators. International students or others who do not have a social security number issued by the U.S. government can also apply for personal loans or auto loans with Boro as their provider. An easy process can provide students who have at least a 2.0 GPA with up to $3,000. The funds can be dispersed within as little as two days after signing the agreement, even for those applying with no social security number.
Numerous testimonials have been given by satisfied borrowers. They have been amazed by how easy and convenient it was to repay these debts. You can contact us today with any questions and start the application process now.