OWn COURSE - USAA

LOANSWITH ACARPOOLCHECKL ISTIf you’re having trouble getting astudent loan, you might be temptedto go through a peer-to-peer loan site.With phrases like “financeeducation the easy, affordableway!” and “get student loans frompeople who believe in you,” siteslike fynanz.com and greennote.commake offers from private lendersthat seem too good to be true.While traditional governmentstudent loans have mandateddollar limits that fall short ofreal-world education expenses,these college lending sites boastno dollar limits. The downsidecould be a higher interest rate. Ifyou’re considering using one ofthese sites, take the followingsteps before you commit:• Know your credit score.Like many private lenders,the interest rate you may beoffered will vary based on yourcredit score.• Check to make sure the loanhas a fixed interest rate.That means the rate won’tchange throughout the lifeof the loan.• Know when the loanpayments will become due.Some loans may require youto make payments whileyou’re still in school, whichmay be hard for you to pay.Other loans may not become due until six monthsafter you graduate, which should give you time tosecure a job and a paycheck.• Know the consequences of missing payments.If you’re unable to repay the loan on time, youraccount could be turned over to a collectionagency, which will ding your credit score and makeit harder for you to get credit in the future.With gas prices unpredictable,carpooling with co-workersor other students couldbe an option. To make theride smooth, iron out thefollowing details beforedriving off.Whose car will be used? Will theparticipants switch cars periodically?Will the carpool have more thanone driver?How much will each person pay? Factorin fuel/mileage, parking, tolls, insurance,and vehicle maintenance costs.What are the rules? Who choosesthe radio station? What about talkingon a mobile phone, eating, drinking,and smoking?Stories ofdorm stalkers andpranks that went too farare as much a part of campuslife as books and bad cafeteria food.Variations of college urban legendshave been around at least since folkloreprofessor Jan Brunvand was a student inthe 1950s. He became so fascinated byRUMOR HAS ITcollege tales that he’s made a careerout of researching and teachingAmerican folklore and legends.It’s easy to spot the telltale signsof an urban legend, says Brunvand. Ifthe story is too good, scary, or funnyto be true, or if your friend heard itfrom a friend of a friend of the guy’sex-roommate, well, you decide.How long will riders wait if the driveris late?What’s Plan B? What does everyone doif the driver is sick or has car trouble?TIP:If you’re looking for a carpool to work, check withyour human resources department. To helpemployees get to work in an economical way, manycorporations are partnering with online ride-matchingservices like NuRide. By taking advantage of theseservices, you also can earn rewards like discounts atrestaurants and retail stores..04 U.25winter2008U.25winter2008.05