For most parents, taking out a loan for their child’s education is the best option. Fortunately, many banks provide this service. The difficulty lies in the fact that the loan will have to pay for quite a long time - up to 12 years. In addition, the average rates fluctuate at 17-19% per annum.
One of the solutions to the current problem may be a loan with a deferment. This means that the first five years of study is paid by the bank. And the next five years is the borrower at his own expense. It is important to consider that some banks directly cooperate with universities. In this situation, it is necessary to clearly define in which institute the applicant wants to study and what conditions are created for processing a loan.
How to get a loan for studying in high school?
To obtain a loan, you need to obtain documentary evidence of the enrollment of a student at a particular university. This form is provided to the bank. The amount of the initial payment, which is paid immediately, is calculated individually. It is important to consider that the loan funds are not transferred to the borrower. The money goes to the school account. It is also important to clarify that you need to periodically confirm your place in the list of students if the university requires payment every semester.
Not only parents can act as a borrower. The student himself can play this role. To do this, you need to be older than 14 for years, to have Russian citizenship. If a student wants to take a loan for education, he must document the fact of his enrollment in a particular university and passing all entrance examinations. Parents can act as guarantors. You can also leave the collateral and documents on it.
What if you need to get a second education?
You can get a loan and get a second higher education. This procedure is also suitable for payment of various courses, advanced training. It is important to note that it is possible to take a loan for education both for study in Russian and foreign universities.
The nuances of loan processing should be clarified in each case individually. It is better to study a few offers from different banks and choose the best option, with which you will not feel debt burden and a strong disadvantage in other spending.
It is noteworthy that the Russian government supports the program of educational loans. Now this trend is developing and becoming common practice. Also, adjustments are regularly made to Education Actthat create favorable conditions for both parties. Now, Russian students will not feel financial constraints if they want to get a good specialty with which to build a successful career.