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Neal Winkler
07-10-2008, 10:31 PM
This is a weird question to ask at this forum, but I didn't feel like finding an appropriate one and joining to make one post.

Here goes my totally stupid question, so don't make fun of me.......

Do banks make small loans, say $10,000, for long term, say 15 or 30 years?

Neal Winkler
07-10-2008, 10:35 PM
Oh wait, I have partially figured out my own question. Student loans are of such a nature.

New question, can I get a student loan and then not spend it on school?

If that's illegal, then go back to my previous question.

Ok, let me just cut to the chase. I want $10k for a fixed rate that can be payed back over 15+ years. Possible? I prefer to look stupid in front of all you instead of at the bank or on the phone with the bank!

Derek Weaver
07-10-2008, 11:32 PM
Yeah, you can do whatever you want when you get the student loan.

There's no loan fairy that looks over your expenses.

You do have to have proof that you're student though.

Neal Winkler
07-11-2008, 07:06 AM
Darn, I just graduated last december.

I'm pretty sure that personal loans don't extend more than 7 years, but I'm not 100% positive. I guess I'll just have to go to the bank.

Mike ODonnell
07-11-2008, 07:06 AM
Unless you have collatoral expect an interest rate of like 29%

Neal Winkler
07-11-2008, 09:57 AM
Funny they ask for such things when they can do whatever the hell they want and just get bailed out by the Fed. Fuck the Fed.

Derek Weaver
07-11-2008, 10:26 AM
Neal,
All you really need to do is to enroll for a couple of classes... say frisbee and CPR if you've got a little extra time. It's a couple hundred bucks, and they're usually Pass/Fail courses (meaning that unless the teacher is a jerk, you'll pass) that meet once/week. That is usually enough to qualify for the loan.

Neal Winkler
07-11-2008, 11:11 AM
Yeah, that thought had crossed my mind. My mom and dad recently borrowed money against their mortgage, and said they will give me 10 grand but they might be selling the house in 10 years. That's not the 15+ that I wanted but hey, it will be less of a hassle and I can just pay the interest in the mean time.

Anyways, I would suggest that everyone here get their hands on as many US dollars as possible and ship them out of the county because the fundamentals of this country are not sound. Make some investments in sounder foreign currencies because the devauation of the USD is going to be narly. If you can borrow it's good idea because you'll pay back the loan in very devauled dollars.

http://www.mises.org/content/nofed/makegraph.php?tms=true&unit=lin&range=max&bars=true&size=med&Make+Graph=make

Patrick Donnelly
07-11-2008, 03:33 PM
Re: Neal
Not to sound harsh, but we don't need your economic theories here. Your last statements, rather than your initial questions, are what make you "look stupid in front of all [us]."

Steven Low
07-11-2008, 03:39 PM
Getting a little of line here guys.

Mike ODonnell
07-11-2008, 04:04 PM
Thread done....closed...let's move on. Health and Fitness forum people, politics and investment advice can be taken elsewhere.