| Academic Financial Solutions Advises Recent Graduates Not to Delay on College Loan Consolidation
Leading student loan debt consolidation company, Academic Financial Solutions, recommends college loan consolidation before the six month grace period expires in November. Tampa, FL (PRWEB) November 5, 2007 -- Academic Financial Solutions, a leading student loan debt consolidation company based in Tampa, Florida, alerts college graduates who graduated last May or June not to delay on college loan consolidation. �Waiting to consolidate will be costly,� says Michael Babb, President of Academic Financial Solutions. �Many student loan borrowers don�t realize that their six-month grace period is expiring until it�s too late and lenders begin demanding repayment. It�s really an unfortunate situation. Many borrowers get caught up in transitioning from college life to finding a job, a place to live and other immediate necessities and lose track of the timing of their repayment obligations.
Slow rise in September's consumer credit
WASHINGTON—Consumers borrowing increased in September at the smallest pace in five months as the growth in credit card debt and car loans slowed. The Federal Reserve reported Wednesday that consumer credit rose at an annual rate of 1.8 percent in September, the slowest since April's 1.6 percent mark. The September gain was about half what economists had expected. The sluggish growth reflected lower rates of increase for auto loans and credit card debt. That debt had risen sharply in recent months as consumers started borrowing more heavily on their credit cards once home refinancings slowed The Fed said revolving credit, which includes credit cards, rose at a rate of 4.4 percent in September. That compares with an increase of 9.3 percent in August. The September rate was the slowest in this category since a 0.1 percent increase in April.
Postal Service removing all stamp machines
Need stamps for those holiday cards? Don't go to the post office, unless you're prepared to stand in line or pay with a credit card.
Stamp vending machines, where customers can buy a single 41-cent stamp or a book of stamps with coins or dollar bills, are on their way out.
The U.S. Postal Service is removing the stamp machines at post offices across the nation. By the end of next year, all of the machines will be gone. Customers still will be able to buy stamps at the post office window, online or at select stores.
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Royal Bank takes $360M charge on subprime, Scotiabank also takes $135 million
TORONTO - Two of Canada's biggest banks took big charges Tuesday reflecting troubles in the U.S. mortgage business and corporate credit markets, but also booked gains from their stake in the restructuring Visa credit card company. Royal Bank of Canada (TSX:RY) said it will record a $360-million charge related to losses in the U.S. subprime mortgage market, but will also post a $325-million gain for Visa credit card restructuring. Canada's largest bank said Tuesday it "expects its fourth-quarter earnings to be only modestly affected by these items due to largely offsetting impacts." Meanwhile, Scotiabank disclosed it will book writedowns totalling $190 million on non-bank asset-backed commercial paper and structured credit instruments.
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