2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
Today, higher education is a very expensive pleasure. Not everyone can afford it, but almost everyone has a desire to get such an education. Therefore, newly minted students take part-time jobs, rely on the help of their parents and the fact that with the new semester the price of education will not rise again. But there is a simple solution that will allow you to avoid worries about tuition fees - student loans.
Student loans - what is it?
Higher education requires serious financial investments, and not every student has the necessary amount to pay for the knowledge he receives. Therefore, banks have introduced student loans, that is, the issuance of loans to students to pay for higher education. However, everything is not as simple as it seems at first glance. Students are by no means the most we althy segment of the population, and therefore they are on the black list of creditworthiness. In fact, the banks themselves decided to issue loans to students and now they themselves refuse to do so. They are afraid of financial losses, because, as already mentioned, tuition fees are high, and students are not rich. But stillstudent loans exist, and a loan to students at Sberbank or any other bank will be issued in any case, but only if certain conditions are met, which can be extremely stringent.
Unsecured loan for students
If you are a student and want to take out a loan without collateral, without third parties and guarantors, then you may experience some difficulties. Unsecured student loans are issued by most banks only if they are over 23 years old. But after all, students graduate from their universities even before reaching this age, but the guarantee of the return of the loaned funds is still more important for the bank, so you will not do anything here - you will have to wait 23 years and take a loan for education when this training is already completed. Complete absurdity! How to get a loan for students from the age of 18, when they are just entering a higher educational institution?
Student secured loan
For an eighteen-year-old student, the only way out is to take out a secured loan. This means that for the entire duration of your studies you will be bound by some third party debt obligations. There is, of course, the option of collateral, but not all banks consider it. Also, if a student doesn't have the money to pay for their studies, how will they get the money to pay the bail? Therefore, loans to students are most often issued through third parties, through an intermediary or under surety. If you are in goodrelationship with your parents, they will be the best third party you can find. Parents are always we althy enough to take out a loan, but more often than not, this is not an option. If parents have the money to pay the loan, it is easier for them to pay for their studies right away. A more common situation is when a student already lives independently and does not depend on his parents. That's when you have to look for another guarantor to take out a loan and pay for tuition.
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