How to apply a loan for education
The children go to school in autumn. What if the university is not far? How can you currently pay for training without significantly impacting your personal budget? There is an option – to apply for an education loan! As part of this program, the bank will transfer money directly to the university – and you’re a student. The monthly fee will not have a significant impact on the strong family budget. For registration you have to read the conditions carefully.
What is a loan for education?
Based on statistical data, most of the students abroad receive training on credit. This type of lending is less developed and in demand in Russia. Often in high demand loans for urgent needs. Loan period is usually less and the amount executed would be sufficient to pay tuition fees. Many banks offer loans for education at good interest rates. However, government regulation of this type of lending is poorly developed.
In addition to the standard consumer credit, the target value of which does not need to be proven, there are other ways to get a loan to pay for higher education. One of the options for this loan is a loan under the guarantee of a legal person. In this case, a loan is usually granted for a second higher education. In this case, the age of the borrower must be more than 25 years, which is a prerequisite for processing.
What are yesterday’s schoolchildren doing, the unforeseen circumstances have not arrived in the budget area, but are very happy to have qualified specialists? A loan for higher education for such people can be formalized by the parents by choosing the optimal conditions. Therefore, this type of lending cannot be recommended to the participant directly.
Preferential credit for education
Most universities cooperate with banks to take out a preferential loan. The contract is concluded for a period of six months to 11 years. The loan is granted in installments, with each semester being transferred to the university account. Payment for the new semester is only possible due to the successful handover of the session. In this case, the loan is issued to a student, the guarantor is one of the parents.
Documents required for registration
To register the contract you need a passport, the name of the school and a surety. The guarantor must present a passport and a certificate that confirms solvency.
Can I get a loan for training abroad in Russia?
It is currently very popular to study abroad. Diplomats who have received training abroad receive 2-3 times more salary than Russian specialists. Many banks cooperate with universities abroad and are ready to provide loans not only for education but also for living expenses. The list of necessary documents includes: a passport, the name of the institution and a guarantor.