How do you get a tuition loan?
The introduction of tuition fees has caused much controversy and dispute among and between students, professors and above all politicians. Enough to partially abolish these fees again, but this varies from state to state. In order to escape the fees, you may have to either move or charge the fees that accumulate per semester, even. However, many banks now have loans for tuition fees on offer, with which this additional burden can be absorbed and otherwise the livelihood can be financed during the study.
Finance study and tuition fees by credit
It is well known that students suffer from a situation of permanent financial stress. While some take this fact humorously, others may have serious problems if they do not study enough to study, and thus do not have enough time to study. Important exam dates quickly approach without adequate preparation, and the number of possible attempts fades away while you are still struggling with your own financial situation. This will be further aggravated if tuition fees are added, which can amount to up to 600 euros or more per semester.
So before any trouble was in vain, a tuition loan should be included in the consideration. In contrast to normal installment loans in the final comparable amount, these student loans are comparatively cheap in terms of interest and other conditions. Several banks now offer such loans and therefore require a close comparison to find the right credit for their studies. Among the cheapest loans is the offer of the parastatal Kreditanstalt für Wiederaufbau, called Bank.
The Student Loan
One of the best-known representatives of loans for tuition fees is the Student Loan, which was the first to be reviewed due to its comparatively favorable terms. With this, the study can be funded for up to 14 semesters. The monthly payouts are between 100 and 650 euros. advertises that no further collateral is required for this loan, but it stipulates that the applicant must be of legal age at the time of signing the contract and not more than 34 years old to obtain the loan. An important requirement also concerns the study itself. This must be the first study of the applicant and must not be extra-occupational. Part-time courses are therefore not funded.
The interest on loans for tuition fees from is variable but limited. The maximum interest rate (debit interest) is therefore 8.45%, the minimum interest rate 3.99% per year. As the interest accrued so far is always deducted from the monthly payment amount, offers the possibility of a deferred interest. However, this requires separate proof of performance, which can only be provided in later semesters. The costs are then joined by one-time processing fees of around 200 euros.
The grants students through the tuition fee a continuous financing of their studies until the 14th semester. It plays it, as it is often not the case for example with comparable offers, does not matter, how high the monthly disbursement amount is. Since this always ranges in the range between 100 and 650 euros, the maximum amount is 54,600 euros, which corresponds to a monthly payment of 650 euros over the entire payout period.
This flexibility can therefore be used to finance all livelihoods or even tuition fees.
The total term of the loan for tuition fees of can take up to 33 years, from the application to the complete eradication. As a result, smaller repayment amounts can initially be agreed. However, before the actual disbursement phase begins, a grace period can be set up in which only interest payments have to be made. This allows the borrower and now former students to orient themselves on the job market and find a job.