Eric's Credit Community

This loan will be used to pay for my son's last year in college. He is a good kid and has paid for the majority of his education himself. He has come to me for help because he owes money for this year as well as last year and he really wants to graduate on time and get a job in his field. He has already maxed out his financial aid as well so time is of the essence. I really want to help him graduate because he will be the first member of our family to do so and we are really proud of him and want to give him as much opportunity as the kids who come from more affluent families have. He is a full time student and works 40 hours a week as well so I feel he is worth the investment.

We looked at traditional lenders but the interest rates for unsecured loans are not what I would like to pay. I want to try Prosper as it appears to be an equitable alternative to big banks. Plus- I really love the concept of community lending and borrowing.

My financial situation:

I am an  excellent candidate for this loan because I always pay my bills on time, every month. Here is my current financial situation:

I have been a self employed independent roofing contractor for almost 30 years. I also have a side business performing various maintenance requests for long time clients.

I take home $4,200.00 a month and have been saving most of it for retirement as I do not have much faith or trust in the economy at the moment.  

I have relatively low living expenses:

• I have lived in a rent controlled apartment in for the past 30 years so my rent is below market rate at $400.00 per month.
• My other living expenses add another $600.00 for food, utilities and gas.
• I payed my credit cards today and now only have $1,500.00 in credit card debt of which all is about to be paid to zero.I am paying one other education loan for my son through AES. I have paid it down to its current balance of $4,376.00 with a monthly payment of $86.00.  I calculate my DTI to be 25%.
  

I take pride in paying my bills aggressively and having little to no debt. Help me help my son while getting a reliable return on your investment.

(The picture posted is my wife and I with our son at his high school graduation.)