Student loan – a way to empty student portfolio
For young people, studying is not just a time to meet friends, travel abroad or play. While studying undergraduate or graduate students acquire huge amounts of knowledge and also acquire new skills during numerous internships or apprenticeships. It is then that they gain their first professional experience that allows you to pay student expenses to a small extent. A language course, tuition, training or renting an apartment are just some of them.
Added to this are the costs of food or living outside the hometown, which definitely burden the student’s budget. If a student cannot count on the financial support of his family, he can apply for occasional work, student loan or credit.
The problem with regularly earning more money prevents students from putting aside money to buy textbooks or planned renovation of the apartment. Often, these expenses exhaust the budget almost completely, even for working students. So where can you get money for study fees and everyday life? The solution may be a student loan or credit granted by non-bank institutions.
What is a student loan?
A student loan is a way to finance your maintenance for the period of study. Loans with interest subsidies can be applied primarily by students of public and private universities, studying full-time, part-time or extramural who started their studies before the age of 25, as well as doctoral students. In the period from July 15 to October 20, 2018, they can submit applications for low-interest student loans in banks.
These loans are granted by commercial banks, using their capital, which allows more effective increase of material support for students and PhD students. The student loan is intended to support students whose families are not very well off. Therefore, every year, the maximum amount of monthly income per person in the student’s family who entitles to receive the loan is determined. Student loan is granted for a period of study not longer than 6 years, and in the case of doctoral students extended by a maximum of 4 years. Paid in monthly installments, not longer than for 10 months in the academic year.
Student loan, in turn, is financial support offered by financial institutions. parabanks in the form of short-term or installment loans. The offers differ from each other in the maximum amount that we can get under the loan, as well as the repayment period and the total cost of the service. Thanks to the funds obtained, the student can quickly settle his obligations to the university and beyond. This is an invaluable help for people who for some reasons have lost their liquidity temporarily, and who must, for example, pay tuition fees or cover other expenses. To receive a student loan, you must pass the process of checking your personal data and verifying the information about them in the BK registers and business information bureaus.
To submit the application you will need: a computer / tablet with Internet access, 18 years or older, valid ID card if you are of legal age, personal bank account, email address, mobile phone. After confirming the personal data provided by the Customer and checking the information contained in the registers, a credit decision is issued. If it is positive, the customer is presented with a contract, and after accepting its terms, the money is sent by bank transfer to the indicated bank account. The whole process usually lasts no more than several dozen minutes, which means that the Customer may have the funds received on the same day.
Affordable trip abroad with a student discount, industry training or maybe a course to acquire new skills? These are just some of the special occasions that you regret not taking advantage of during your studies. During the study period, students often cannot afford additional, unplanned expenses, especially if they do not want to ask their family or relatives for help. In such situations, it is worth considering other solutions, which is a student loan, thanks to which an additional cash injection may be granted. Regardless of whether you are paying tuition fees and expenses related to education or wanting to experience an amazing adventure, it is worth considering the idea of taking a loan by a student.