Nations Trust Bank American Express is now offering up to 20 month installment plans for education related payments. With great importance placed on higher education comes the responsibility of paying tuition fees – whether it is for someone completing their last year at school or wanting to enroll in a degree or MBA programme.
Whatever the aspirations might be, Nations Trust Bank American Express Cardmembers can now enjoy extended installment plans up to 20 months at any educational institute in Sri Lanka.
Niluka Gunatilake, Head of Cards at Nations Trust Bank commented on the Bank’s exclusive privilege to cardmembers, “We’re always looking to support our cardmembers in every aspect of their lives. With rising tuition fees, settling educational fees might not always be a feasible option. The goal of offering installment plans for education fees is to help our cardmembers have the ability to fully support their children’s success, or even their own passions, and to worry
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Small, fast loans often lead to a cycle of ever-deepening debt, according to the Consumer Financial Protection Bureau. Lawmakers in New Mexico are considering whether to regulate the industry here further during the 2021 legislative session. Senate Bill 66 would cap the rates and fees so that they re in line with national averages with the aim of helping people in jeopardy avoid a pit of debt they can t climb out of. KUNM caught up with reporter Jeff Proctor to talk about the effort.
JEFF PROCTOR: Essentially what we re talking about here are what folks used to think of as payday loans and title loans. In other words, you could walk into a storefront with a paystub or the title to your vehicle and get a loan at an incredibly high interest rate because you needed cash right now. So that has existed in New Mexico for decades and decades. The industry often refers to these as installment loans you pay them back in installments, and the interest compounds over time.