Finance

Student Loans: How can you reduce your total loan cost?

Published

1 year ago

April 25, 2023

Student Loans: How can you reduce your total loan cost?

Thanks to the COVID-19 pandemic and the freeze on pupil mortgage repayments that United States president Joe Biden launched, there’s some confusion about how repayments work and the way they are often made sooner.

When individuals discover themselves in a optimistic monetary state of affairs after graduating from faculty, they will discover themselves questioning how they will repay their pupil debt sooner in order that it’s not hanging over them.

Many select to begin paying while they’re nonetheless at college to chip away on the mound earlier than the curiosity accrues. Signing up for computerized debit can also be a solution to scale back your rate of interest on the debt. It could come down by 0.25 per cent by doing this.

The best technique of sooner pupil mortgage repayments

These are each methods to get extra paid off in a faster timeframe in order that the curiosity doesn’t develop. The best solution to scale back the mortgage price is to truly pay greater than your minimal fee every month.

By doing this, you scale back the price of the mortgage over time and additionally, you will find yourself paying it off a lot ahead of these paying the minimal requirement every month.

Taxes are additionally a solution to repay the coed mortgage sooner. You may dedicate your tax refund to paying off a few of your pupil mortgage debt. There’s a superb probability that you just received the tax refund since you received a tax deduction for paying pupil mortgage curiosity anyway.

If, quite than paying it off sooner, you’re ready the place you can not pay it in any respect, there are conditions the place the mortgage will be forgiven. Applications exist for lecturers, public servants, armed forces members and different teams.

Related Topics:Agency_SAM en/lifestyle/us-news/personal-finance Student loans - English

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Finance

Strong Hong Kong dollar weighing on tourist spending: finance chief Paul Chan

Published

5 hours ago

May 5, 2024

Press Room

Strong Hong Kong dollar weighing on tourist spending: finance chief Paul Chan

“But the external environment remains complicated and there are a lot of uncertainties,” Chan said in his weekly blog. “The US Federal Reserve last week held interest rates steady. Coupled with stubborn inflation, the market expectation for a rate cut has weakened compared with earlier this year.”

He said the conditions could “bring adverse impacts to global economic recovery, Hong Kong’s exports, as well as the sentiment of local investment and capital markets”.

The Fed announced last week it was holding its benchmark lending rate steady in the 5.25 per cent to 5.5 per cent range as core inflation remained above the target of 2 per cent.

Chan said the city’s tourism sector was one of the key drivers of the economy in the first quarter, but warned of the drawbacks of a strengthening Hong Kong dollar, which is pegged to the US dollar.

The number of arrivals for the first three days of the Labour Day “golden week” holiday reached nearly 650,000, up by 25 per cent against last year’s figures, he said.

The break runs from May 1 to 5 on the mainland.

He said “changing consumption patterns among locals and tourists”, coupled with the strong Hong Kong dollar, could hit the retailing and catering sectors in particular.

Chan urged companies to develop new products and to embrace technology.

Finance minister Paul Chan attends the annual meeting of the board of governors of the Asian Development Bank in Tbilisi, Georgia. Photo: ISD

“New products can not only meet the changing needs of consumers, but also create demand and thus boost sales,” he said. “As for new ways of management, companies can lower costs and enhance efficiency by adopting more digital solutions.”

Chan was attending the annual meeting of the board of governors of the Asian Development Bank in Tbilisi, Georgia, which is themed “From Billions to Trillions – Promoting Private Sector Development for Climate Change”.

He said many participants were interested in the development of Hong Kong’s digital economy, as well as the innovation and technology sector.

Chan said at the plenary session a huge funding gap of trillions of US dollars existed for climate and transition investments, as well as in helping developed and developing economies in climate financing.

He urged members to work together to mobilise private sector resources and channel funds to support green and climate transition projects through innovative financial products and services.

In his weekly blog post, Chan also noted Hong Kong’s gross domestic product had increased for five consecutive quarters, expanding 2.7 per cent year-on-year in the first three months of the year.

The city’s benchmark Hang Seng Index also gained almost 14 per cent recently, while the property market had become more active after authorities scrapped cooling measures in February.

Finance

M&M Finance’s Q4 Results: Net profit declines; ₹6.30 per share dividend declared

Published

12 hours ago

May 5, 2024

Press Room

M&M Finance’s Q4 Results: Net profit declines; ₹6.30 per share dividend declared

Mahindra Finance reported a total income of ₹3,706 crores, marking a 21 per cent increase year-over-year (YoY), for the quarter ending March 31, 2024, on May 4. However, the Profit After Tax (PAT) experienced a slight downturn by 10 per cent YoY, settling at ₹619 crores, attributed to a 14% increase in Net Interest Income (NII) which stood at ₹1,971 crores. The Net Interest Margin (NIM) remained fairly stable at 7.1%. The reported disbursements for the quarter saw an 11% rise, totalling ₹15,292 crores, and the Gross Loan Book grew by an impressive 24% YoY to ₹1,02,597 crores.

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The company also showed marked improvement in asset quality, with a significant reduction in Stage 3 assets to 3.4%, down from 4.0% in December 2023. Credit costs for the year were maintained within the targeted range of 1.5% – 1.7%, indicative of effective risk management strategies.

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In its consolidated results, the company posted a total income of ₹4,333 crores for the fourth quarter, up by 23% YoY, and a marginal decrease in PAT by 1%, amounting to ₹671 crores. The consolidated disbursements also noted an increase of 11% YoY, reaching ₹16,174 crores.

Also Read | No Dunki route to London anymore: Why is Rishi Sunak deporting UK’s illegal immigrants to Rwanda? An explainer

The company’s strategic initiatives included bolstering its presence in vehicle finance, particularly in pre-owned vehicle finance, which grew by 18% during FY24. Moreover, Mahindra Finance announced plans to enhance its services in the non-vehicle finance segment, aiming to expand its Asset Under Management (AUM) to 15% over the medium term. This includes increasing investments in sectors such as Small and Medium Enterprises (SME) lending, Lease and Purchase (LAP), and leasing through its Quiklyz platform.

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Published: 05 May 2024, 09:46 AM IST

Finance

Transwarranty Finance Q4 results : profit at ₹2.73Cr, Revenue increased by 166.66% YoY

Published

19 hours ago

May 4, 2024

Press Room

Transwarranty Finance Q4 results : profit at ₹2.73Cr, Revenue increased by 166.66% YoY

Transwarranty Finance Q4 Results Live : Transwarranty Finance declared their Q4 results on 02 May, 2024. The topline increased by 166.66% & the profit came at ₹2.73cr.

It is noteworthy that Transwarranty Finance had declared a loss of ₹6cr in the previous fiscal year in the same period.

As compared to the previous quarter, the revenue grew by 68.98%.

The Selling, general & administrative expenses rose by 12.53% q-o-q & increased by 13.69% Y-o-Y.

The operating income was up by 7726.27% q-o-q & increased by 154.53% Y-o-Y.

The EPS is ₹0.98 for Q4, which increased by 148.87% Y-o-Y.

Transwarranty Finance has delivered 0% return in the last 1 week, 24.19% return in the last 6 months, and -6.85% YTD return.

Currently, Transwarranty Finance has a market cap of ₹56.46 Cr and 52wk high/low of ₹15.5 & ₹8.25 respectively.

Transwarranty Finance Financials

Period	Q4	Q3	Q-o-Q Growth	Q4	Y-o-Y Growth
Total Revenue	5.12	3.03	+68.98%	1.92	+166.66%
Selling/ General/ Admin Expenses Total	1.16	1.03	+12.53%	1.02	+13.69%
Depreciation/ Amortization	0.13	0.12	+9.2%	0.12	+1.13%
Total Operating Expense	2.42	3.07	-21%	6.87	-64.74%
Operating Income	2.7	-0.04	+7726.27%	-4.95	+154.53%
Net Income Before Taxes	2.73	-0.36	+862.66%	-6.01	+145.33%
Net Income	2.73	-0.36	+863.53%	-6	+145.44%
Diluted Normalized EPS	0.98	-0.07	+1500%	-2.01	+148.87%

FAQs

Question : What is the Q4 profit/Loss as per company?

Ans : ₹2.73Cr

Question : What is Q4 revenue?

Ans : ₹5.12Cr

Stay updated on quarterly results with our results calendar

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Published: 05 May 2024, 02:36 AM IST