We live in a social period in which households find it difficult to cope with all the expenses they face. Then when the children grow up and the needs change, even the right to study can be transformed into a burden of great commitment, especially if the university is in a different region than the residence.
Loans for university students are available to those who need extra liquidity to face university or study related expenses.
University, an expensive dream
Studying is one of the access keys to building your future; the university course is increasingly interrupted or not undertaken at all because of the high costs to be incurred: not only the university fees, each year higher and higher, but also books, travel if you are a commuter. Not to mention the expenses that off-site students face every day.
Parents are almost unable to bear all these expenses. Loans for university students come to save deserving and willing students. Let’s find out what they are, who has the right and how to behave to request them.
What are college student loans and how do they work?
This type of loan falls into the category of targeted loans: these are loans required for the purchase of a service or asset which, in the case we are dealing with, translates into study and training.
Universities often offer students scholarships and concessions but these solutions do not always cover all expenses or, in some cases, not all students manage to obtain scholarships or concessions.
Among the loans, there are those called ad honorem or granted on the basis of merit: the rate is variable based on the university average and on the basis of reference tables validated at the time of signing the contract.
There are also banking institutions that provide a loan only with a guarantee, subject to a guarantee or with an insurance policy taken out through specific institutions or through a patrimonial and economic guarantee; In other words, you need someone who has certain requirements to take on the role of guarantor to unlock the loan.
Often, this role has declined in the student’s parents who for obvious reasons cannot guarantee for himself, not having a work paycheck or properties registered in his own name.
Who should you go to for a loan if you are a university student
There are many banks that guarantee a personal loan to students; we indicate the most famous, with a brief indication of what they offer; their choice obviously requires an in-depth study of the individual cases, evaluating the rights and duties of the chosen option.
Intesa San Paolo offers a credit line to finance university, graduate or master’s studies. Activated for five years, it has the great advantage of not requiring a personal or property guarantee, not a small obstacle for all those students who do not have a job with a paycheck or someone who can appear as their guarantor for them.
The amount can be returned in a single formula at the end of the studies or in small monthly installments that can be extended to thirty years. It is necessary to open a current account which will then be associated with a prepaid card.
Banca Sella offers a loan to attend post-graduate masters but through a curricula judgment, therefore by merit; maximum amount of 30 thousand USD and repayable in installments at the end of the studies.
Banca Unicredit provides a loan that can be customized in the duration and in the sum, repayable at the end of the duration of the studies, with a monthly fee of up to a maximum of 180 months. At the end of the university course, it is possible to request a two-year suspension period, before starting the return, during which interest will not be applied.
It is also possible to apply for a loan from Agos, starting the online procedures in a simple and autonomous way. The loans are customizable in quantity and duration. In addition, there is the possibility of structuring the return plan or, in case of need, of postponing a monthly payment.
BNL provides loans to finance the path of university students by signing a third party guarantee or through suitable guarantees. Also in this case the interest rate is variable based on the university average and a repayment of the loan is possible up to 20 years.
I am a student: how to get a loan?
The loan in question is very similar to that which is granted to micro-enterprises or to those who want to start their own business. In the case of students, however, it is possible to access the loan application procedures by contacting the University Secretariat directly, who will be suitably informed of all the active agreements with banks and credit institutions.
Each university has its own list of partner banks to which they will direct you: it is up to you to evaluate them based on the rates and the contractual tables
Most likely one of the most important requirements to be taken into consideration when assessing credit institutions is the possibility of having a period of time that acts as a “bridge” and that elapses between the end of the university or study path and the start of the payment. of the loan installments.
Loans for university students: Give them the future
In addition to the banks that provide their loan directly, as we have seen, with or without the need for guarantees, a project was born entitled “Give him the future” which saw the provision of a monetary credit fund for young people set up by the Youth Department and by the Prime Minister, amounting to 19 million USD.
This fund acts as a guarantee to allow young people who theoretically do not have the necessary requirements to be able to access a loan, to turn to banks and credit institutions to obtain it.
The only requirement is to be enrolled regularly in a course of study, degree, specialization, foreign doctorate and even language courses lasting no less than six months; however, in order to access the economic resources necessary to undertake or complete one’s studies, it is necessary to be aged between 18 and 40 years.
In fact, it is the State that becomes the guarantor of the loan, in light of the fact that almost all of the students lack the guarantee requirements for obtaining a loan (real estate, paycheck, etc.). The loan can be repaid in installments of up to thirty years and the interest rates depend on the individual credit institutions, although precise regulations imposed by the state must be respected.
Additional loan solutions can be considered minor because they are aimed at financing tools aimed at studying students, competitors, books or, alternatively, study trips abroad. In these cases it is possible to request personalized plans since the amount received is of a smaller entity.
Loans for university students: 2019 advances
The beginning of the academic year is just around the corner and the fear for many families of not being able to guarantee their child and student the opportunity to continue their studies in a peaceful way is a vice in every part of Italy. The solution is loans for university students: repayments in small monthly installments, which can be spread over a decade in order to maintain the serenity of not depriving yourself of the right to study and not submerging yourself with unsustainable expenses.