Biden student loan forgiveness isn’t happening any time soon, but that doesn’t mean you don’t have options!

If you’re struggling to imagine that their might be other options, I might suggest starting with a basic budget worksheet.

For the rest of us who might be inclined to laugh at our peers, I would ask if you use a budget. If not, then humor us and fill out a basic budget worksheet.

There are many money borrowing options open to you, even if you’re in debt and have bad credit.

“Payday”, or installment, loans and cash advances are often thought of negatively, but they serve a fantastic purpose. Fast money, in your hands, everybody qualifies. This is a gamechanger when used responsibly.

Part of that means not going to shady party stores in Detroit for your loans. It also means choosing a legitimate lender to do business with. Such as AxAdvance.

“But Rocky!”, you say, “Aren’t all loans installment loans?”. Great question and I see why you’d think that, but NO. That’s wrong. It’s how the loan is structured. Rather than try to articulate how it works and sound like a jackass, I’ll just say that it’s designed to incentive early repayment.

Personal loans and credit lines are a significant step-up from installment loans with regard to terms.

“But Rocky!,” you interrupt rudely, “I know how credit cards work!”. Fantastic, because we won’t be discussing basic credit cards. And to understand a credit line, we’ll need to understand the personal loan.

Personal loans are typically easy to qualify for if you’ve got a job and no other outstanding loans. Even then, you can typically refinance. The better your score and lower your debt, the bigger a loan you’ll qualify for. Most people can get a $2,000 loan without issue. $500 is pretty much guaranteed.

Loans will have about half the rate of your credit cards (that is NOT how it’s calculated, but we’re keeping it super simple), that will increase with longer-term loans. Typically you can choose the length of your loan between a few options. The shorter the repayment period, the less interest you’ll pay, but your minimum monthly payments will be larger.

Clearview Loans is an online lender that could help you out.

Upstart is alright. Not a first choice. Really none of these are first choices. The good news is that you unlock better offers when you successfully pay off them off.

Personal credit lines are worth discussing. After a picture.

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Personal credit lines are like a loan with regards to terms of repayment. Whereas a credit card can theoretically charge you interest infinitely, a personal credit line builds the interest into your predefined monthly payment.

So far this basically sounds like a loan. Except you don’t have to tap the full line of credit. You can borrow just $50 if you like. Thanks to digitization, you’ll be able to deposit and spend money right away. (There may be a day delay depending on whatever factors exist in the aether).

But wait, there’s more!

Instead of going to your bank, or an ATM, you can often use your funds with a card. The cards issued function just like any credit or debit card, and tend to offer rewards programs comparable to middle-tier credit cards….sometimes. In the worst case scenario, you’re only going to owe interest on the balance you spent - not the balance you carried.

That said, you will pay less in interest by making larger payments.

Upgrade is my recommendation for your first credit line.

Auto-secured loans. Do you have a car? Your car can be collateralized in order for you to take on a loan. I’m going to be honest, it’s getting late and I have never looked at auto-secured loan rates. What I do know is that secured loans (secured meaning you have collateralized an asset) always have better terms than unsecured loans of the same amount.

Not all lenders have the same offers. WhiteRock is an aggregator, so that’s worth a look

If all else fails, you can try getting rich with Tai Lopez.