Study loan according to a special program, paid studies on credit

A student loan is a special purpose loan, so banks are tightly controlling how the money is spent. The bank will immediately transfer the amount of the loan, which will cover the full tuition fee, to the university account where you plan to study or have already signed a contract.

Usually in universities and banks everything is settled long before your arrival: the two parties have already signed a cooperation agreement. Therefore, when you go to the bank to apply for a loan, you are offered a list of universities where you could study for credit. Conversely, each university has information on partner banks where you can turn to financial aid for tuition fees. Such offers include credits for study abroad.

Requirements for a borrower to receive a study loan


There is nothing extraordinary for the borrower to get a student loan . Understandably, it is not possible to claim a formal income from a learner to apply for a loan, and often graduates have not yet reached the age of majority, so parents or close relatives have to come to a contract and be solvent.

In cases where the borrower is already a salaried natural person, he / she shall draw up the study loan independently. In this case, the amount of the student loan is determined by the amount of your monthly income, but if your profits are not sufficient, your bank may offer you a study loan of the required amount against your mortgage.

We issue a study loan


A student loan places the same demands on its borrowers as ordinary consumer loans. Therefore, experienced borrowers do not have to be ” afraid “, the procedure is the same as for any other credit program. The bank will ask you to submit the following documents:

  1. a contract with the university for further training directly at that institution;
  2. passport;
  3. a certificate of income (parents or other solvent relatives).

In cases where the prospective student borrower is not yet of age, he or she will need notarized parental consent for the study loan. Signing a study loan agreement may oblige the borrower to take out insurance in the event of disability or even death.

To find out how to get a student loan, you can go directly to the lender’s office or send an online application to a virtual service offered by almost every lender.

Student loan: repayment schedule

Student loan: repayment schedule

The student loan has its own specific repayment mechanism. Because while the borrower is studying, he does not have enough income to repay the loan in full, so he pays only interest for 1-5 years. Immediately after defending the diploma, a full repayment of the student loan begins, which includes repayment of both the interest and the principal of the student loan (the amount required to cover the entire period of study).

The conditions of the study loan are stipulated in the contract. But keep in mind that some student loans do not offer such discount periods and it may be more profitable and easier to arrange a regular consumer loan with your parents or loved ones to pay the entire tuition fee in cash at once. But later to resort to repayment.