Reasonable Loan
By silveysim
@silveysim (337)
United States
February 11, 2007 10:20am CST
If you were a student and offered to borrow $200 but you'd have to pay the money back in two months with 40 dollars being the service fee. Would you find this reasonable and why? or what would you find to be a better deal. Should I lend more, do you think their should be interest rate. However I want the money back before two months and one day...keep that in mind.
Would you consider borrowing or even think it's necessary for a student too take this small loan?
1 person likes this
2 responses
@ScrappinHappyMom (914)
• United States
11 Feb 07
I would say that is the standard interest rate on most credit cards. However I wouldn't loan someone $200 just because you are going to charge them a fee and insist that it be paid back within two months does not mean they are going to pay. If they are in dire straights for $200 that is really such small amount of money in the grand thinking of things that I would have to deduct that they are not responsible with thier money and therefore will not pay you back.
1 person likes this
@silveysim (337)
• United States
11 Feb 07
I was thinking about being tied with in the school...so you don't pay grades can be freezed. I mean if you absolutely can't FOR GOOD REASON I can give you more time without adding 40 dollars. I would give a 5-7 day grace period. Teens are that responsible...or start thinking about it to late.
@silveysim (337)
• United States
11 Feb 07
Oh-really. The purpose of the loan is for students to pay unexpected expenses, bills, books, and like you say if they want to start a pay phone calling center.Lol- I work in a bookstore and several times had to help students decide what to buy because of lack of money and what to do in the mean while. I see students go through unnecessary trouble because they spent the money they saved fixing there car, or the kids bill ran up. So I was thinking it would be a good Ideal...but it would be hard to sort who would give me money, who needs, and who just wants to buy a videogame(not that I have problem with that, they might pay me back but how about the person whose 40 dollars short a bill and needs groceries, and a blouse for an interview?)
