Daughter?s Final Months of College
| Listing Information | |||
|---|---|---|---|
| Amount: | $5,000.00 | Status: | Loan created |
| Grade: | D | DTI: | 19% |
| Lender Rate: | 15% | Borrower: | NorCal123 |
| Finished | State: | CA | |
| Funded: | 100% | Group: | The Group |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2007-03-13 | EricsCC ROI: | 14% |
| Status History | |
|---|---|
| Mar 14, 2007 | Current |
| Feb 14, 2010 | Payoff in progress |
| Feb 20, 2010 | Paid |
|
I would appreciate securing a loan for the final few months of my daughter?s college education. I would like to borrow $5,000. The expenses towards the end of her college life are more expensive than I had planned. I had calculated the majority of her expenses into my budget, but I wasn?t prepared for a 5th year college term. Even though she is almost a four- point student, she was not able to enroll in all the classes she needed her senior year. Additionally, she needed to complete her interning position, meaning she had to stop working during the school year. The internship is unpaid, though she does receive college credit. I have found that going out and obtaining a late term school loan is almost impossible. I moved to CA from KS six years ago and moved my family about a year and a half later. After a layoff in KS I decided to move to CA for a new position. It has been an eye opening experience! I had never moved before and negotiating moving expenses for my new position was not an easy task. I underestimated my costs, plus I had numerous problems selling my house in KS after the first seller could not close on their loan. This almost forced me into foreclosure, but luckily I found a new buyer and paid off the first and second loans. I am a college graduate and have worked in the insurance industry for over 30 years. I am an associate with one of the largest brokers in San Francisco. My wife also took a position in the insurance industry. Our combined salary would seem very comfortable at over $10,000 a month but due to blemishes on my financial score, I am required to take a high interest rate when I borrow money. After reading about Prosper in a few articles I became in trigged with the organization. I then had a face to face meeting with the leader of a Silicon Valley group within Prosper called The Group. I found it to be informative and decided to give Prosper a try. The following is a basic scenario of my monthly expenses. Our net salaries already have health insurance, disability insurance, life insurance and transportation costs taken out. The following provides our average monthly expenses: Rent $2,500.00 credit cards 850.00 car payments 810.00 auto ins 325.00 utilities 450.00 cells 250.00 Medical (Misc) 150.00 Clothing 300.00 Food 700.00 Car gas 150.00 Transportation 150.00 Meals out 300.00 Misc 400.00 College Exp. 750.00 Mo. Exp. Total $8,085.00 |
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