Personal Loans

Browse the article (https://www.nerdwallet.com/article/loans/personal-loans/personal-loan-bank-credit-union) and answer the question.

How does your credit score impact the personal loan options you have available?

• A lower credit score correlates to a better interest rate and a larger available loan size.

• A higher credit score correlates to a poor interest rate and a larger available loan size.

• A higher credit score correlates to a better interest rate and a larger available loan size.

• A lower credit score correlates to a poor interest rate and a larger available loan size.

Browse the article (https://www.nerdwallet.com/article/loans/personal-loans/personal-loan-bank-credit-union) and answer the question.

List at least 3 types of lenders who grant personal loans.

• Traditional banking institutions

• Credit unions

• Credit card companies

• Peer-to-peer lending sites

Browse the article (https://www.nerdwallet.com/article/loans/personal-loans/personal-loan-bank-credit-union) and answer the question.

What factors, other than rate, should you consider before choosing a personal loan? Select all that apply.

• Flexibility to reschedule a payment

• Unemployment guarantees

• Interest rate

• Rate of return

Browse the article (https://www.usnews.com/news/business/articles/2015/05/15/why-i-skipped-the-bank-and-took-out-a-loan-from-my-peers) and answer the question.

What dollar amount of loans have Lending Tree & Prosper (P2P) disbursed so far?

• Prosper: $800 million

  Combined: $6 billion

• Prosper: $600 million

  Combined: $8 billion

• Prosper: $8 million

  Combined: $600 billion

• Prosper: $680 million

  Combined: $8.6 billion

Browse the article (https://www.usnews.com/news/business/articles/2015/05/15/why-i-skipped-the-bank-and-took-out-a-loan-from-my-peers) and answer the question.

How does that compare to the amount of loans granted by JPMorgan (bank)?

• JP Morgan: $8 billion

• JP Morgan: $187 million

• JP Morgan: $600 billion

• JP Morgan: $187 billion

Browse the article (https://www.huffpost.com/entry/5-perks-of-peertopeer-len_b_6547848) and answer the question.

What aspects of peer-to-peer lending make it (frequently, but not always) less expensive to the borrower than traditional bank loans?

• Attractive interest rates

• Do no make money off of borrower

• Fewer fees

• Ability to tell story, resulting in lower rate

Browse the article (https://www.huffpost.com/entry/5-perks-of-peertopeer-len_b_6547848) and answer the question.

Which type of lender is more likely to give you a loan if your credit score isn’t great?

• Credit unions

• Traditional banks

• Credit card companies

• Peer to peer

Browse the article (https://www.usnews.com/news/business/articles/2015/05/15/why-i-skipped-the-bank-and-took-out-a-loan-from-my-peers) and answer the question.

With P2P, who is bearing the risk of the borrower defaulting on the loan?

• The peer who is lending

• There is no risk involved

• The peer who co-signs

• The peer who is borrowing

Browse the article (https://www.usnews.com/news/business/articles/2015/05/15/why-i-skipped-the-bank-and-took-out-a-loan-from-my-peers) and answer the question.

With a traditional bank, who is bearing the risk of the borrower defaulting?

• The co-signer

• The bank

• There is no risk

• Borrowers are not able to default

Which perk is most intriguing, to you, when looking into peer-to-peer loan options?

• Attractive Interest Rates

• Quick Funding Speed

• Ability to Tell Your Story

• Fewer Fees to Pay

• Significantly Cheaper than Credit Cards