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STUDY LOANS

STUDY LOANS

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loans,credits,loans credit,credit loans

Study loans are a type of Personal loan to students aged 18 to 30.

These products are intended to finance a language course, a college career or studies abroad, for example.
Tuition, fees, books, material, maintenance… Return to class every time costs are higher and the students and their families see and want them to deal with all of them.So much so that, to ensure the continuity in the studies of their children, many parents opt to insurance studies.
Some students with hardship, before worrying about the future payments, have to think about how you will pay for the current school year. One of the financing instruments that are are loans or credits of studies.
Whether to buy a House, a car, reform housing or furnish the kitchen are many whocome to a credit institution, why renounce making a language course or study a master only for not having all the money?
Loans to study

Increasingly, credit institutions that take advantage of the month of September to launch loans aimed at families with schoolage children and which include among their loans personal products intended to cover the costs of study.

Study loans aim to finance all or a part of, among other studies, school courses, university degrees, higher degrees, courses of languages, graduate or doctoral degrees.


Types of loans for studies

Within studies lending institutions most differ between different modes depending on what is going to study or for what is going to need the money. The following could be distinguished:


Loan registration: destined to pay the University fees. You can also include an amount to pay child support, housing and school materials.


Graduate loan: for the study of a masters, PhD…

Study abroad loan: loan Exchange or Erasmus name can also be received. Study partof the studies in a foreign country.

Scholarship loan: advancement to the student of the amount that has been awarded a grant to meet their spending until it is delivered to him.
Characteristics of study loans.
These loans are mainly focused, to finance national or International University and postgraduate studies and it is a specific product to students. What should be the beneficiaries or applicants age is between 18 and 31, although this fork can vary from one to another.

 Amount
The maximum amount that a customer can order hasn’t chosen it this but that is one of the factors established by the Bank or box. The amount can range from 6,000 euros to the 60,000 or 80,000 euros.

This large difference is due to the type of study that is to be performed. Not requirethe same amount of money that only need to pay tuition for a year at a public University, which is around 2,000 euros, than that required to afford a master abroad.


Interest rate

The interest rate of a loan of studies, which is usually between 5% and 7%, can be fixed or variable and it depends on the client to know, or not, what will exactly pay each month. It is also possible that the loan offer fixed interest rates over a period of time and after is applied the variable type.


Commissions

Like any other loan, the Constitution of one of studies carries some commissions. The vast majority of institutions leave exempt customers requesting a loan payment ofstudy personnel but there are also some that do the same thing with others such asthe opening or early cancellation.

The absence of these covers is an essential element when it comes to hiring a loan as they increase your final cost.


Lack

Many entities include in their conditioned the possibility of applying for the loan a grace period which can be a couple of months or even more than 2 years. During that period, the customer may pay only the interest generated, partial lack, or defer allpayments until he completes his studies or agreed period, total lack.


Time of return

The term that the student will have to repay the loan will depend on the entity that requests it and the amount of which have arranged. This time, which often includes the qualifying periods, usually from 6 months up to more than 10 years.


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