There are student loans to the deferral of repayment? Where can students go, and how lending works to study? These are the questions that raises many parents. They want to ensure their children a good education, but do not print money …
While we hear everywhere: „Learn to have higher incomes in the future,“ nobody is saying where we have to study to take the money. Not all students are lucky that their student days after a mother willing to give money, and they přivydělají only to satisfy their hobbies. And from another point of view – not all are receiving the public (or government) and universities in addition to ongoing study costs (accommodation, meals, transportation, textbooks), and must pay considerable fees. How much is actually learning? Free tuition comes out to thousands of studies, then the fees charged to thousands of crowns per semester. But where to take it?
** Loans for Studies ** To study the dream school and you do not have the necessary funds, there is the possibility of loans from banks. As you will read below, definitely the way to finance lead, no one is perfect but understand – cheap. If the bill was passed by the state tuition, we can only hope that the banks came up with a more favorable price products. Basically you can get to two situations:
To cover one-time expenses during their studies are ideal current accounts with the possibility of pumping the overdrawn – so-called overdraft. Some banks have started to provide students with a credit card. These are used strictly for short-term financial coverage of unexpected situations – including grace period of around 45 days would be really more expensive. Overdrafts and credit cards are eligible for public universities, private universities, you'll need more.
Taking the classic study purpose consumer credit, for example, of 500,000 for 10 years, said it is fairly useless. You would have to pay monthly installments, which would seem to have been due to the longer maturity than the length of study is slightly lower than the cost of studying at private universities (9–13.000 CZK / m) but below 6000 CZK / m would be difficult to get. In addition, banks for consumer loans require proof of income. You need a loan with a postponement without income.
** Travel to the Czech market ** Several banks provide special student loans, which requires no income, and allow to defer payments until after the study. Commercial Bank offers loan Gaudeamus. With the postponement of the study can get up to CZK 150,000, the loan university students can apply to anything. A very similar product, students can get in under the name UniCredit Bank Student Loan. According to his own decision can be obtained once the entire sum, or draw on the money gradually, each year of study. The maximum repayment period is fixed at 10 years, the course should therefore look as follows: first 60 months you repay only the interest (such as student loans amounting to 10.35% per annum) and the studio the next 60 months, you paid the price a loan.
Note therefore that the postponement of a bank does not mean that you will pay the first 5 years of nothing – it means that you will not have to repay the loan principal. The monthly payment is normally made up of principal and interest. Gradually amortized principal, the interest rate component, you pay less and less. The student loan must first pay only interest, such as commercial banks after 1165 CZK 60 months, and then when you begin to pay the normal way, CZK 3138 – the loan is thus ultimately more expensive. To obtain credits, students usually need 2 proofs of identity and security (for example, third party liability or lien on deposit at the bank). The monthly loan repayments must still usually add a fee for management and administration of credit with UniCredit Bank, for example 50 CZK / m
Special loans for students as well as arrange for PSB – offers leveraged loans for education, where after a period of 10 years can pay only the interest and borrow up to CZK 200,000. If a student asks for a loan with no income, as the principal applicant is headed by a representative of the student or spouse. Students themselves as joint-figures. It is interesting that this loan does not bind to the age and type of school applicants. You may be up to 55 years and may need to borrow the language courses. In the event that funding is not, however, to study at university or college, maturity is reduced from 10 to 5 years.
The Czech Savings Bank has on offer cash loan of up to CZK 300,000 with a maturity of up to 10 years. We do not charge a fee for the examination and processing of the loan, deferring payments of principal is possible. Students are expected to CZK 300,000 loan for 10 years with the postponement of the bank bear the first five years of 2500 per month for 3 799 CZK. Monthly fee for administration and management of credit account is CZK 49, APR of 9.62%.
Raiffeisenbank postponement does not, however, students may obtain a loan with longer maturity and lower interest rates than ordinary applicants. Specialized courses have a loan for less than standard consumer credit better interest rate (from 7.4%), longer maximum repayment period (10 years), early repayment charge. You can borrow up to CZK 1,000,000.
What banks offer to students? During this week you in our periodic financial section outline tips and tricks, offer student banking, you know what the bank pays to go. We begin with student current accounts, we will continue to overdraft loans and credit cards and an overview of specialized loans to terminate the entire study.
The article was taken from our partner site www.finance.cz. Article Author: Thomas nurseries
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