Student loan: Discover the best offers
Student life is not given to everyone. All the necessary funding must be gathered to continue the course without a hitch. When we do not always have the necessary savings, banks offer us the possibility of borrowing in order to make our projects a reality. What are the steps to take to benefit from this credit? What are the conditions to respect?
The characteristics of a student loan
When you are a student, you often have to plan for various expenses, such as rental of accommodation, transportation, higher education fees and daily expenses. It often happens that parents do not have the necessary savings for this project. This is why many banks offer student loan offers. This is a bank loan to pay for higher education.
This type of loan usually meets attractive terms, more flexible terms and a particularly low interest rate. It is aimed in particular at young people between 18 and 28 years old, or even up to 30 years old in some cases.
With this attractive rate, the funds granted fluctuate between $ 800 and $ 30,000. The maximum repayment period can be up to 12 years, but can vary and can be flexible depending on the establishment.
How to repay a student loan?
Repaying a student loan can be done in the same way as that of a regular consumer loan, that is, the student must pay a regular monthly payment. Remember that a student loan is part of a consumer loan.
However, there are two types of franchise that benefit students who want to have a loan to finance their studies. Indeed, they can choose between:
- The partial deductible : Here, it is a question of repaying from the beginning of the loan all the interest including insurance and administrative costs. The total cost of the loan will then have to be paid at the end of the franchise period, in particular when the student enters the professional world.
- The total deductible : In this case, the borrower will be required to reimburse only the insurance of the loan when signing the credit agreement. As for the total repayment of the loan including its interest, it will be done once the franchise is over. Although this option is particularly interesting, we must not forget to forget that it turns out to be a little more expensive.
Students who have used a loan can also benefit from immediate repayment and early repayment.
Student loan: meet the necessary conditions
In order to qualify for a student loan, the borrower must present a certificate of his enrollment in a school or university. Having to be of French nationality, the student applying for a loan must provide a residence permit or other document certifying that he meets all the criteria required to reside in United States.
Before validating a student loan, the credit organization also asks for a guarantee from a third party. Once all the conditions have been met, the student can benefit from the amount he wishes, which may even go beyond $ 45,000.
Credit comparison for a student loan
What is the best loan offer to finance your studies? This is one of the questions that trots us once we decide to take out a student loan. Since there is a plethora of student loan proposals, it is not at all easy to decide. To be able to find a loan solution that meets your expectations, it is better to start by comparing the offers. How to do ? With the advent of online credit services, lending institutions offer various tools, such as the comparator, the simulator and loan calculators. In particular, they can allow the borrower to compare the best loan proposals, especially in terms of the rate, and to choose one more easily according to his needs.