Unemployed college graduates may qualify for personal loans
09/13/2010
By Credit.com Staff
According to a report from the Huffington Post, many recent college graduates face new financial concerns as they attempt to strike out on their own, and student loan bills in particular can be daunting. But in some cases, personal loans might help alleviate some of that pressure.
If a former college student has been particularly good about paying their credit card bills every month, they may be able to qualify for a personal loan. If they were to use this loan to consolidate their other credit card debt, they might be able to successfully lower the total amount they pay to lenders every month. Doing so can turn several different debts, each with different rates and balances, into one loan.
However, personal loans of this type are not easy to qualify for, so a consumer would need particularly good credit to obtain one.