Nowadays become increasingly popular banking service such as a student loan.However, like other loans, this has its "pros" and "cons".And they need to know to make a decision on whether to take it.
What is education credit?
It is a type of long-term bank loan, issued exclusively for payment of expenses related to education.That is, for its completion must be a student of educational institutions providing vocational or higher education.
he provided to citizens of the Russian Federation since 14 years.However, students who have not attained the age of 18, credits are subject to a mandatory written consent of the parents (or guardians).
Learning Credits give different banks, but the conditions are similar in all:
- loans issued in rubles;
- rate of 12 to 20%;
- loan repayment period of 10-11 years.
Some banks give loans for education abroad, but in this case the conditions are tougher: the borrower must be at least 21 years and the interest rate will be much higher.
«Pros" and "cons" student loan
The main advantage of this loan is clear: the ability to pay during training only the interest and return the principal amount within five years after graduation.
In addition, the bank itself lists the institution required amount within a specified time.
But there are some inconveniences and limitations when applying for a loan:
- credit can help to get an education at the lack of money, but in the end entail a substantial overpayment.Since, except for payments to the university will have to pay even the interest.
- The decision to grant the loan was adopted by the bank for 15-20 days, and the student has to prepare all the necessary documents and apply immediately after the examination.
- Banks are very attentive to the choice of university and profession, assessing their reliability, prospect, relevance to our time.
- If you agree to give credit to the bank may require collateral or guarantors.Guarantors tend to favor the relatives of the borrower (if they agree to it).A pledge can offer property, car, securities.
- not handed session or to leave the school, as well as any other reasons for the change or termination of the contract, will cost the student in a rather large sum.
Articles Source: sobesednik.ru
