You are just starting college, but you still don’t know what you are going to fund next semester? Do you have a small scholarship and would you like a supplement? Are you hired for a cost recovery program and would you like to take the burden off your parents’ shoulders? Student Loan can provide a solution to all three problems. We’ve collected your options for thinking about student loans.
Hiring a Student Loan is a long-term commitment
So it’s a good idea to go through the topic thoroughly before deciding on any of the schemes. First of all, it’s a good idea to collect what costs you have to pay for during your university years and whether you can pay them out of your own pocket. These are the costs you need to consider when starting your university now:
As a student, you can get many benefits and benefits, but they are uncertain and you cannot count on them every semester such as study grants and social assistance, which do not have the guarantee that you will receive each semester and, if you receive it.
Larger university cities can also be a source of income for student work, but it is only worth investing more time in it if it does not hinder your studies. As a sure point, a student loan may be a good addition if one of your semesters might not succeed as planned.
General information about student loans
This loan is the same as the banks offer, so you have to repay it with interest within a certain time. We distinguish between two types, Student Loan1 and Student Loan2. Student Loan1 is free to spend, whatever you want it to be. You can apply for a lump sum at the beginning of the semester or with a monthly payment.
You can use Student Loan2 for reimbursement, in which case the Student Loan Center pays the loan directly to the university or college, settling the tuition fee.
You can apply for Student Loans for 11 semesters, up to 5 months in a semester. If you are enrolled in a single unit course and the duration of the training is over 11 months, the eligibility period is the same as the duration of the training but may not exceed 14 semesters.
Student-friendly construction for university years – Benefits of Student Loans
The biggest benefit of Student Loan is the favorable interest rate. Student loan is extremely cheap compared to the personal loans available on the market.
While the annual interest rate of the cheapest personal loans available today starts at 7-8 per cent, the interest rate on Student Loan1 is currently 2.30 per cent and the interest rate on Student Loan2 is 0 per cent due to the state interest rate cut.