Training on credit
A good education is the first step to a successful career and further realization of a person in the chosen field of activity. It is very kindergarten sight words important to decide on a profession that would bring not only money, but also pleasure. However, it is not always possible for school leavers to budget for the right educational institution. In this case, the question arises about the cost of education and where to get this amount.
One of the available options to solve this problem may be a loan for education. Despite the presence of such a service on the Russian market, in recent years, demand for it is quite low.
First of all, it is very important to understand the difference between conventional credit and higher education credit. There is no and there can be no confusion of math play ground terminology, because the loan to study is given on other terms. To not be deceived, you need to know the basic characteristics and differences in educational credit:
The presence of the necessary amount for the full course of study;
The presence of a delay of 1 to 5 years or the ability to pay only interest during the period of study;
The ability to extend the loan for a good reason (sabbatical);
Loan terms of up to 11 years;
The age of the borrower from 14 years.
All these items are absent in consumer credit, payment of interest and contributions on which will be inconvenient for students.
When applying for a loan for education, the bank has the right to issue it to a person under the age of majority, but in this case requires a guarantor or co-borrower. If the borrower is 18 years old, and he has a job, the presence of co-borrowers is not required.
Not all banks not only want, but also have the opportunity to issue education loans. As a rule, large commercial banks, which have been working in Russia for a long time, are among those that have such a service. Often the bank granting the loan must be bound by an agreement with an educational institution. You can find out if there is such a contract directly at the university or at the bank of your choice.
Another disadvantage of credit may be the presence of banking requirements for payment. Such conditions vary, for example, it may be a requirement for the borrower to pay part of the tuition fees at once and pay the rest on credit. The amount may be large enough (up to 50% of the cost) to be an insurmountable obstacle for the student. In addition, when deciding on a loan to think about the presence of guarantors. Many banks will require a guarantee to pay their money.
And, of course, you should think not only about your current ability to pay, but also about your future. It often happens that young people can not decide on the desired profession and go to university, which later disappoints them. As a result, they are expelled. But if this is usually just followed by application to another institution, then if there is a loan, the debt will still remain, and it will have to be paid. Is it worth mentioning that you will need money for a new application?
Bad grades and absences may be another reason for the transfer. Therefore, before taking a loan for education, you should think about whether the education in this case is really worth the loan, as well as how serious the future student takes his obligations.
Really profitable loan for education will be for those who receive a profession in demand in the region, and really plans to work in the profession. In this case, the guarantor may be the city or employer, which will immediately solve many problems. If the guarantor is the city, it becomes available to take a loan with state support.