Transition after graduate school
| Listing Information | |||
|---|---|---|---|
| Amount: | $9,500.00 | Status: | Loan created |
| Grade: | A | DTI: | 78% |
| Lender Rate: | 15% | Borrower: | NLLD |
| Finished | State: | PA | |
| Funded: | 100% | Group: | Pharma Loans |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-07-25 | EricsCC ROI: | 14% |
| Status History | |
|---|---|
| Jul 25, 2008 | Current |
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Purpose of loan: To pay off educational related credit card debt at a very high interest rate (25%). About Me: I'm a 35 years old recent PhD graduate from the University of Michigan currently working as a research scientist at the University of Pittsburgh Medical School. I conduct research on childhood depression. I also have a strong interest in autism research and I'm the editor of an autism research blog: (www.translatingautism.com). I have educational-related credit card debts at very high interest rates (story below) despite having excellent credit and never missing any payments. This loan is helping consolidate my debt and expedite paying off my credit cards! My financial situation: My debt is almost entirely student loans: I receive my undergraduate at Florida, a Master from Appalachian State, and my PhD from Michigan (GO BLUE!) - a journey that took me 13 years to complete. During this time I was on a F1 international student Visa, which pretty much made me ineligible for student loans and limited how much I could work on campus to 20 hours. So for a significant portion of this time I had to put most of my living expenses on credit. At the time, that seemed like a good (and only) option since the credit cards were at rates comparable to student loans... but as banks consolidate the rates climb, I feel I'm paying for the most expensive student loans on earth! I?m currently aggressively paying down all my debts. Current Budget: INCOME: Income after taxes/ins from university: $3,650 Statistical Consulting: $200 Total: $3,850 EXPENSES: Rent (including utilities): 550 Phone: 90 Internet and TV: 60 Car Insurance: 80 Gas: 30 (I live 2 blocks from work and walk) Food: 200 Student loan: 260 Credit card payments: 2,240* Total Expenses: 3,510 *An additional payment of about $160 is being sent to a credit card with 25% rate. This loan will be used to pay a portion of the balance on a bank of America card at 25%. The current balance on that card is 18,400 and I am also applying for a zopa loan in order to pay the rest of the balance. This loan will not change my monthly payments but will significantly expedite the debt repayment from 5-7 years to 3. My intention is to keep this loan for the entire 3 year period. The prosper payment will be automatically deducted from bank account. I posted a list of previous Q&A in my profile. I also have a Q&A thread for the previous listing that I will continue to use for the new listing at prosper dot org. Feel free to send me any questions and thank you so much for bidding on my loan. NLLD. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 265008 | Pay off credit card as I take control of my finances | A | $18,400 @ 20% | Jul 11, 2008 | Withdrawn |
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