Every time I turn around it seems like a new peer-to-peer lending service is being launched. The latest, Fynanz, launched in March and is trying to bring the peer-to-peer structure to student loans. If you are looking to get into peer-to-peer loans (or P2P for short), either as a borrower or lender, you have many options to choose from; Prosper, Zopa, Lending Club, and Virgin Money are just the well-known ones that have recently launched. But with all the these sites launching so close together and all with basically the same idea, will the market be big enough for them all?

As the credit crisis forces banks to tighten their lending practices, peer-to-peer lending has stepped in to fill the void in the loan industry. P2P lets people bypass banks and borrow directly from a real person. It works for lenders because the security of being guaranteed and insured against loss is still there like a traditional loan backed by the government. The upside for borrowers is that lenders compete to give them better rates.

Zopa and Prosper seem to be best equipped to last the longest and emerge as the front runners in this yet developing industry. Lending Club, with its unique marketing strategy of first launching as a Facebook app, is targeting a slightly different audience than the rest and this strategy will help them spread their name faster than the others. Read more…

Photo by Alec Peden.

If you are curious about your credit report like I was, you’re probably thinking about your options for finding out about it. Apart from a major purchase like a house or car, there aren’t many opportunities to just look it up. Enter sites like AnnualCreditReport.com, Credit.com and FreeCreditReport.com. If you search for “free credit report” on Google, about 23 million results pop up. Everyone wants to give you your report… the trick is, you just have to ask.

To give you some back info into how obtaining credit works: everyone’s credit history is tracked and rated by three national credit reporting companies; Experian, Equifax and TransUnion (sounds like a railroad company right?). A law signed in 2003 called the Fair and Accurate Credit Transactions Act (FACT Act) allows consumers to get one free comprehensive disclosure of all credit history from each of the three national credit reporting companies once every year. AnnualCreditReport.com is the central source by which you can get your free report.

Five minutes of filling out a couple forms will get you access to your credit reports from the three credit reporting companies, but AnnualCreditReport.com does not give out your credit score (that 3-digit magical number), just the reports. Once you’re in, it’s a good idea to print these reports to study for mistakes or just to save for your records. Read more…

Do you spend money when you shouldn’t? Credit cards seem to be made just for you? Budgets? You don’t need no stinkin’ budget… If you can’t seem to limit yourself by willpower alone you may need some extra help in the form of Intacard. While the idea of prepaying has been around for awhile, Intacard does something a little different by being an easy to use prepaid debit card that is not linked to a traditional bank account or credit card. Just transfer money to it and go. As their website says: “Intacard is the easy way to pay for whatever you are “inta” either online or offline.”

Intacard may be just a simple prepaid debit card but in addition it has a few good features that may peak your interest. For starters, approval is a no-brainer. Bad credit and under 18 are welcome. There are also 3 ways to get cash onto your card once you have it. Direct bank deposit, place funds via a regular credit card or go to an Australian post office to place funds (this one is a little harder to do if you’re based in the States). You can also upload your custom design to make your card unique.

Currently the card is only available with Cirrus and Maestro, with Visa and Mastercard coming soon. Did I mention Intacard is based in Australia? But don’t be disappointed yet Americans: Read more…

Lending Club is a social lending network where members can borrow and lend money among themselves at better rates. Simple. But Lending Club is also more. Less than a year ago Lending Club was a peer lending application that let users take out loans funded by other users. By the middle of last year, a month after it passed the one hundred thousand mark, Lending Club passed the $500k mark for lent and borrowed money among members. Since then it has grown into a full website. Much like the social finance website Zopa, Lending Club is looking to turn the lending industry upside down.

From Mashable’s, Lending Club 6 Months Later: Does Peer-Lending Work?:

Based on varied interest rates as determined by the individual lenders on a per-case basis, the ROI (return on investment) is high, and the loss has been low. With $3,525,660 lent, only $15,865 has been 16-30 days late.

While traditional lending and borrowing has suffered because of the credit and market crises, a new wave focusing on peer to peer (P2P) transactions has risen over the last couple years, driven by new web technologies (web 2.0) and startup companies. Lending Club has started and grown its service targeting existing groups such as university alumni. And they might just have the edge over their competitors. Unlike Zopa and Prosper, which are its direct competition, Lending Club is the first to integrate its services into a social network (Facebook). Read more…

With some student loan lenders no longer making loans under the federal program that subsidizes and backs low-interest loans, many students are left wondering where to turn for affordable student loans. Students and their families are being forced to look harder in fewer places. But fear not college bound students and worried parents, there is hope! There are great resources on the internet to help you find the loan that is right for you. Here are a few to get you started on the right path to find your perfect (and affordable) student loan.

Today there are many options when looking for a student loan and, for your convenience, you can shop from the comfort of your own home. There are many sites out there dedicated to providing tools and help to students and parents who would like to compare, shop and apply for a loan. Use eStudentLoan.com’s loan finder to get instant comparisons and online applications. Match your specific needs with loan programs from top lenders. The site is also packed with tons of useful info about all different types of loans including private, federal Stafford, federal PLUS, consolidations and student credit cards.

A leader in student loan comparison and shopping (and also a sponsor of this site) SimpleTuition.com can help you navigate all your student loan needs and learn your options. Save time, money and energy by comparing multiple student loan options from a variety of leading lenders all from one website. And when you’re done comparing, apply online or over the phone. Students and parents alike can take full advantage of the site’s library of facts and info on everything you’ll ever want to know about student loans. Read more…

Facebook, everyone’s favorite social network (except mine), is the hub for connecting over the internet. Not only is it a social network with near limitless options and doodads (doodads is a technical term), but it also doubles as a marketplace, photo album, arcade and one of the best ways to pass time while you are supposed to be working. Facebook was originally for college students so its only appropriate that it still has a ton of ways to help those same students earn a little extra money to help pay for beer student loans. Here are a couple to get you started.

Sell your old stuff in Facebook’s marketplace. Unlike selling things through Ebay, which takes a cut from your profit, the Facebook Marketplace is free. The marketplace is also a good place to look for a job. Companies are now realizing the need to present many sides of the business to the public and joining Facebook does just that. It’s also a helpful place to look for new talent and scope out potential hires. Good for companies and job seekers.

Do you need some extra cash? Are you an expert in some subject? The Ether Facebook Application just might be the thing for you. Here is the gist: Read more…

I recently stumbled upon an informative site for would-be-art-school goers who need help finding the right college to pursue a degree in the arts. I myself am a graduate of a design and technology school. I personally know how hard it can be to find an art school that is right for you. Find Your Art School.com would like to help by being dedicated to helping serious art and design students make an informed decision about their future.

For many students looking to find an education in the art, design or technology fields, regular universities and other schools just can’t compare to the education offered by a real art school. Many exciting and fun careers are of the creative nature. Professional photography, graphic design, interior design, fashion, film and digital media are just a few examples. Its always easy to find a good university, but for art-minded folk, a good art school can be elusive. Since art schools are usually private and are located at small campuses or even hidden inside commercial buildings, many people don’t know about these institutes. And since they don’t advertise too much, or only advertise locally, the word rarely gets the right ears. Read more…

I’m happy to announce that Helpmepaymyloans.com will be sponsored by the web-based student loan comparison tool, SimpleTuition.

SimpleTuition is dedicated to enabling students and families through the confusing education loan process with tools, resources and choices that help them to make informed decisions about getting loans for college. Like many search and comparison loan shopping sites, SimpleTuition is free for its users and features comparisons for all types of loans from top lenders such as NextStudent, SunTrust Bank, Susie Mae and Wells Fargo. SimpleTuition isn’t a lender, but a tool to learn about and compare various student loans and lenders. Read more…

Grocery shopping may be the farthest thing from your mind when you are a college student but when you enter those automatic doors there are a fews things that you can do to be aware and save some green. Warning: This guide is not for healthy eating while you are in college. This is the grocery shopping guide for the person who wants to save the most money and doesn’t care how they do it. Now, let’s begin.

By now its a cliche but the best, and cheapest, food item you can buy is Ramen noodles. Cheap, easy and fast all it a convenient package. You can’t get any cheaper than Ramen at about 22 cents a pack or about 88 cents for a pack of 6. Ramen is the staple of a college student’s diet so get used to it. Read more…

How much cash do you spent on books each semester? Yeah, probably a lot right? You now have a choice instead of waiting in line at the student bookstore just to get stacks of books that will eventually be shoved into a corner of your room in a few months. Renting is much easier than buying anyway. And cheaper too. Now you can rent college textbooks from Chegg with just a few clicks of the mouse and have them delivered before your classes start. Don’t ever worry about your textbooks again.

Chegg’s textbook selection is big. At over 2 million books you won’t need to worry if they have the textbook you are looking for. They have everything from business to zoology and everything in between so you are bound to find what you need. And unlike the regular bookstores, their website is available 24 hours a day. Read more…