By, FeatureSource

Students who fill out financial aid forms - a frustrating and disappointing undertaking - know all too well that loan options and financial aid packages still result in unmet need. Books, tuition, and living expenses add up quickly and using a credit card as a life preserver can be a recipe for long-term trouble. An alarmingly high number of students use, and max out, the credit limit on multiple, high-interest credit cards. Undergraduates with credit cards - 78% overall - carried an average balance of $2,478 in 2000, and 9% of all students had credit card debt over $7,000 (Nellie Mae, 2000). Over a recent three-year period, the number of students graduating with debt over $20,000 nearly doubled (The College Board, 2000).

There is a viable and affordable solution for students in need of money for rent, books, or even car payments. With CircleLending (www.circlelending.com), an online, third-party facilitator and administrator of person-to-person loans, students can supplement their financial aid package with a low-cost loan from someone they know. Instead of borrowing from a bank, students can get the money they need from a friend, a mentor, a cousin, or even a religious institution, and structure custom loan terms that work.

CircleLending offers students an immediate and flexible financial alternative. And because the service removes many of the complexities and dangers inherent in interpersonal lending - miscommunication, lack of documentation, and no formal repayment process - the student’s request for a loan becomes less daunting and the lender is more likely to say "yes."

Whether to pay off credit card bills, fund a business, or finance a wedding, CircleLending helps anyone who needs money. The service provides simple, step-by-step guidance for proposing, structuring, and formalizing low-cost loans, and then effortlessly manages the repayment process over the life of the loan. With CircleLending, friend-and-family lenders can help those in need with confidence and reduce the risk of default.

There is a light at the end of the tunnel and CircleLending provides students with the tools they need to reach their goals. CircleLending invites you to visit their Web site to experience firsthand how easy the process can be with an online demo at http://www.circlelending.com/demo.start.asp, or you can call toll-free at 1-800-805-CIRCLE. There’s no cost to get started.