Going back to college
| Listing Information | |||
|---|---|---|---|
| Amount: | $10,000.00 | Status: | Loan created |
| Grade: | B | DTI: | 8% |
| Lender Rate: | 13% | Borrower: | lunatiquechat |
| Finished | State: | GA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-07-31 | EricsCC ROI: | 10% |
| Status History | |
|---|---|
| Jul 28, 2007 | Current |
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Purpose of loan: I'm helping my daughter go back to college after 4 years out of school. She's planning to complete a bachelor's degree with a double major in Business and in Wilderness Leadership and Experiential Education. She spent a lot of time during childhood and adolescence in the outdoors, participating in a variety of recreation activities: horseback riding, sailing, canoeing, etc. She served as co-sports director for a church mission trip in high school and then spent some time in college and at work in retail sales. She has spent the last 2 1/2 years in coastal North Carolina doing both retail work and some outdoor work--surfing, parasailing, kayaking, and camping. She has received a lot of financial aid, but we still need to come up with $10,000 for the 2007-2008 academic year. My daughter plans to work some while attending school; her eventual goal is to own a specialty retail shop (outdoors) in a resort/vacation area. My financial situation: I have worked for my employer for 29 years and have owned my home for 27 years. I have faithfully paid all loan commitments--mortgages, lines of credit, and car loans. Most delinquencies on my credit report are minor medical bills (coinsurance amounts) and I am working on getting those paid. My 16-year-old son has begun paying for some of his expenses, so cash flow has improved slightly. I have enrolled in the college's tuition payment plan ($1,000 a month for 10 months), and, even though I plan to supplement my income with freelance editing and proofreading, I'd feel a lot better if I could cut that monthly expense, even if it's for three years. Monthly net income: $ 3,700 Monthly expenses: $ 3,100 Housing: $ 1,100 Insurance: $ 535 Car expenses: $ 200 Utilities: $ 210 Phone, cable, internet: $ 130 Food, entertainment: $ 400 Clothing, household expenses $ 50 Credit cards and other loans: $ 300 Other expenses: $ 175 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 364591 | Going back to college | B | $5,000 @ 15% | Jul 09, 2008 | Loan created |
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