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
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 >
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 >
Student loans need to be paid back while grants do not. Grants that do not have to be paid back include the Pell Grant and the Federal Supplemental Education Opportunity Grant (FSEOC).Full Answer >
Western Sky Financial offers unsecured loans that have repayment periods of between one to seven years but have annual interest rates as high as 355 percent, according to DailyFinance This payday lender is based in the state of South Dakota and is Native American-owned. The company claims it operates under Native American laws, which allows it to circumvent state and federal criminal usury laws.Full Answer >