Investing in Your Future: Your Guide to Personal Loans to Further Education
The idea of learning a new skill while quarantining amid the COVID-19 pandemic has been heavily emphasized in the last few months. Everything from DIY home projects to baking sourdough bread is getting a spotlight on TV ads and social media, and while these skills may be useful, they’re not exactly something to throw on a resume. However, the ability to receive training and enroll in courses that will further your education is easier than ever before with the number of resources available online. While there are plenty of free options out there, resume-building certification programs and training boot camps can be a necessary yet pricey endeavor. The idea of spending money to make yourself more marketable to current or future employers might seem daunting, but with a personal loan, there’s no need to break the bank. Consider investing in your future with the help of personal loans to further your education.
What Is a Personal Loan?
Unlike student or auto loans, personal loans can be used for just about any expense that is personal to you. Think unexpected medical costs, large purchases, or major home repairs. Financing further education is also a valid reason to take out a personal loan. Most personal loans are considered unsecured and are deemed highly desirable because they do not require collateral. Unsecured personal loans are paid back in monthly installments, with interest that is dependent on your creditworthiness. Both secured and unsecured personal loans typically come with swift approval.
Utilizing Personal Loans to Further Your Education
You may be familiar with federal student loans and the process of paying them back to your college or university. In the case of personal loans, the expenses they are used for are typically much smaller than the cost of annual tuition, and the loan is paid back directly to the financial institution. So what’s an example of an education expense that a personal loan could be used for? Just about any class, credit, or boot camp that can add to your marketability! If you have already graduated, the best option for funding something like a certification program or career training class is a personal loan.
When entering the workforce after college, it’s not uncommon to realize that you may need some extra training in order to fit the job descriptions of your dream career. It’s also acceptable to decide that you want to shift gears and enter an entirely different field from your major. These moments of actualization should be exciting, rather than cause anxiety due to the need to pay for more training. With a personal loan, you can consider furthering your education an investment in your future.
The Benefits of Taking Out a Personal Loan with Members 1st
As previously mentioned, personal loans are taken out with your financial institution, with zero affiliation to a college or university. So what are the benefits of receiving a personal loan from Members 1st of NJ Federal Credit Union? To start, it’s important to know that Members 1st offers unsecured and secured loans. Where unsecured loans do not require collateral, our Share Secured Personal Loans offer lower rates and payments because they are secured by your savings or CDs. With both secured and unsecured loan options available, members can enjoy the perks of borrowing up to $20,000 at a fixed-rate as low as 8.75% annual percentage rate (APR) with terms up to 60 months.
Don’t hesitate to take action and finally enroll in that course you have been dreaming about. With the help of a personal loan, funding your learning experiences will be stress-free. Find out more about Members 1st’s secure and unsecured loans today!