A non-bank financial intermediary is a financial services firm that does not accept deposits from the general public. It may offer a variety of financial services including leasing, factoring, pension funds, mutual funds and insurance plans. Some non-bank financial intermediaries are also venture capitalists.
Many non-bank financial intermediaries participate in securities exchanges and employ a long-term strategy to grow the funds that they manage. The activity of financial intermediaries is a good indicator of the overall health of the economy and the growth of the financial services sector.
Non-bank financial intermediaries complement banks in that they help invest savings. They also provide a wider variety of services in comparison to banks.Learn More
A bank note is paper currency with a marked value issued by the central bank of a nation. Bank notes are also known as paper money or bills.Full Answer >
Asking friends or family for financial help requires being honest about one's financial situation, including the possibility of and timetable for paying money back. It also involves treating the request as a business transaction, keeping lines of communication open and showing gratitude for any loan or gift received.Full Answer >
Financial aid is based on the premise that the cost of attending college for a student is higher than the expected contributions from his family. The cost of attendance is calculated as the sum of the tuition, transport, room and board, books, supplies and other miscellaneous costs. The expected family contribution is subtracted from the cost of attendance to determine a student's financial need in a given year.Full Answer >
There are several sources of financial aid for college, such as the federal government, state governments, colleges and universities, private organizations, banks and lending companies. For a student to qualify for financial aid, he must apply for the specific aid he is interested in and meet the qualifications set. Financial aid for college students include loans, scholarships, grants and work-study programs.Full Answer >