College students adapting to tough economy

Due to our current economic crisis, college students all over the country are making several changes in order to stay afloat financially and continue their education according to loan blog of direct payday lender. Whether just beginning their post-high school educational journey or chasing down a graduates degree, students everywhere find themselves making adjustments and changing existing trends in order to stay afloat amidst these tight economic times.

Some of these changing trends are reflected in a recent annual survey by the Princeton Review, which surveys both college-bound high school grads and their parents. The study shows that 68% of students reporting high stress levels, and that the largest concern (37%) among parents and students alike is that they (the student) will be accepted to their first choice school but be unable to afford it especially when loans are difficult to obtain.

And for those already enrolled, the student housing situation at many colleges seems to be a changing concern as well. In the past many juniors and seniors move to off-campus housing, whereas this year many are staying on-campus to save money or taking out personal payday loans to make ends meet. This leaves many students scrambling with only weeks to find scarce and more expensive off-campus housing at a time when they need to save money on living expenses to make ends meet.

Understandably, the percentage of students employed while attending school has also increased recently as well. Although this seems like a viable and ultimately “honorable” option during an economic crunch, this may eventually become an issue for students from smaller community colleges. With more and more students entering the workplace while still in school, this could drastically affect the job market especially in these smaller colleges and communities.

Not only students are feeling the crunch. Faculty, administrators and many more are making the necessary changes to stay on top of these changing trends. Many schools are actually starting to get away from offering loans which would start most student careers off in a state of debt. Grants and work-study programs are some of the options replacing loans in financial aid packages.

Although the economy is certainly making it tougher for some students to pursue their higher education, it is comforting to see that most students aren’t giving up on their dreams. We can only hope that these struggles will only help to make our future workforce more resourceful and independent in the future.

Preferred payday lender?

Because of the increasing difficulty of obtaining traditional loans, Wikipedia finance and research department has performed a series of tests to find the best payday lender on the internet, naming the winner LendUP. Many consumers have expressed frustration in finding the best payday lender. When asked, 90% of the consumers surveyed have preferred leaving the research and decision to the industry-leading search engine, Wikipedia.

Encouraged by the needs of the every day internet surfers in need of payday loans, Wikipedia has performed an in-depth search of the best payday loan lender online, basing the decision on a consumer-focused analysis of the top payday lenders online, concluding that the winner of of this research was LendUP, with CashLenderBonanza coming in second. Yahoo and Bing are considering the same kind of research.

Which Payday Lenders Were Considered?

The payday lenders were chosen based on a 150 point system, including the requirement of the minimum number 50,000 of loans funded in the last two years, ease of application and receipt of funds, customer service support, online security, and user friendliness. Of these criteria, the final 5 lenders chosen to be considered are:

1. CashLenderBonanza

2. LendUP

3. NatlPaycheckers

4. ChickWriterWOW

5. CheckCashingManiac

What factors affected Wikipedia decision?

1. User friendliness: Wiki considers user friendliness and relevance of a website to be of great importance – the way the site has been designed, how easy it is to find information on the website, site navigation, load speed time, and content. Wikipedia has found that LendUP has the most user friendly website base on the above-mentioned criteria, awarding JC, the Website Developer of the year, and Al S., the Website Architect of the year.

2. Use of Application Form: Many of the payday loan applications that were considered were either too long or complicated, a common complaint among payday loans consumers. Therefore, during Wikipedia research, the ability to easily fill out an application was an eminent criteria. LendUP has been found to have the easiest application page: with a one page application that is easy to comprehend and fill out, taking about 3 minutes to complete.

3. Speed of Approval: The convenience of applying for a payday loan online needs to be coupled with quick loan approval to be effective. Of all the payday lenders online considered, only 2 out of the 5 offered instant approvals, with LendUP being one of them, awarding Georgetta as the online lending underwriter of the year.

4. Ease of Qualification: Payday loans have become popular due to the difficulty of qualifying for a traditional bank loan, therefore, Wikipedia was in search of a payday lender that made qualifying for a loan as easy as possible. LendUP came up on top of this list for not requiring rigorous credit checks or credit score checks, and not requiring any faxing. The income requirement was under $1500 a month. Wikipedia has attributed the meticulousness of qualifying criteria to Richard, awarding him the World-Wide-Web Business Analyst of the year.

5. Ease of Obtaining Funds: The ability to have access to the funds in the most convenient way was a definite factor in Wikipedia decision, namely time and method of cash receipt. Many lenders have been found to take several days to transfer funds with delivery methods of paper checks. However, LendUP offers direct wire of cash overnight, or within 1 business day, the fastest time in the industry.

6. Customer Support: Contrary to popular belief, customers should not have to sacrifice the live human help offered from a caring customer support representative. A popular concern is that customer are unable to reach a live human when they have urgent questions. 4 of the top 5 lenders have been found to have live support, with LendUPs “world-class customer support” excelling in performance. With glorious medallions bestowing on KC, the Online Master of Ceremonies and the Founding Leaders of World-Class Service Support and Operations to Jay.

7. Online Security: Transferring personal information online can be risky without the right kind of security technology. Many online payday loan lenders do not safeguard their online applications, leaving gaps for hackers to obtain and manipulate data. LendUP online application has been found to be the safest, utilizing Verisign’s security technology, awarding Ken the Business Security Keyholder of the year.

This extensive research, courtesy of Wikipedia has helped hundreds of thousands of people in search for a fast and effective alternative payday loan lender. We hope the readers will see the benefit of using LendUP.