Nowadays, such a great opportunity for students is available for students, how to get an educational loan to pay for training in a higher educational institution, in the absence of own savings.
This loan is ensured by state support, which allows you to get a loan on preferential terms. And this speaks of a very pleasant loan rate, and about minimal overpayment.
An educational loan is called a loan issued by the Bank to the Student on favorable terms — to pay for training in one of the educational institutions of our country.
In this case, the borrower does not receive money in hand, the bank translates them to the settlement account of the educational institution.
To make a loan may require mortgage property, but this is not always the case. It all depends on the requirements of the bank.
A student is also provided with a grace period during which he can pay only interest on the loan and constitutes the period of this period of 9 months from the date of commencement in the university.
The grace period can be extended if the student issued an academic leave due to pregnancy and childbirth, as well as child care, but after the cessation of this period, you need to start paying equal payments to the loan balance and interest.
Many banks provide the opportunity to pay only part of interest in the first two years of study, and after since the third year already has the body of the principal debt.
For registration of a loan for education, the age of the borrower must be at least 16 years.
Provided if the loan agreement is concluded with parents, it will be impossible to obtain a grace period, since this type of target loan is available only to the applicant. Also, the educational institution in which the student will be trained should be included in the list of state accredited universities.
To submit an application you will need to contact the bank. If the bank has previously approved a loan, then you will be asked to provide a complete package of documents, and after signing a loan agreement.
If the borrower is over 16, but under 18 years old, the consent of the parent and his passport is attached to the main package of documents. Some guarantee for the student.
The bank is trying to financially not load the student at the first courses of training, therefore, during all years of study, the student pays only interest on the loan agreement, and not fully. For example, in the first year of study, the student has the opportunity to pay only 40 percent of interest accrued by the bank, and in the second year already 60 percent. Since the third year, the student must pay the full amount of interest, and after graduating from the university and the body of the loan itself.
If suddenly the student decides to translate into another university, then it is necessary to inform the Bank and provide a new training contract.
Then the cash will be transferred to the details of the new educational institution. And in the event that the cost of learning has grown, the bank can increase the amount of the loan. For this, the same, I need confirming documents from the educational institution.
Educational loan is an excellent opportunity to get a diploma in one of the universities you welcome without any preliminary savings. The preferential program allows future graduates to pay a loan at a low interest rate, which will significantly reduce the financial burden.
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