Are you in education but having trouble getting the economy running around? Maybe you are missing out on money for your exchange or a new apartment deposit? Whatever money you lack, a loan may be an option for you. The following are three advantages of a loan.
No financial rating – everyone is entitled to a loan
With quick loans and SMS loans, which are types of consumer loans, no assessment of your financial situation is required. The same goes for a loan. The loan is for beneficiaries under education and it does not even require you to go down the bank. It can all be done online.
The process lasts a bit longer than with a quick loan. To receive the loan, go to and apply for a loan. As soon as you receive the approval, you must approve the loan plan, which you can subsequently correct.
Earn up for a larger loan
A loan has a maximum limit on how much you can get paid. For 2015, the rate is USD 3,020 per share. month. In addition, an additional amount of USD 1,511 is offered to providers. If you have used up your loan but are still in education, you have the opportunity to take out a final loan of USD 7,791 per. month for a maximum of 12 months. But why take a loan if you need to borrow a larger amount?
As mentioned, you can fix it in the loan plan. For example, if you gets paid 1,500 USD. January 1, but in the following months do not need financial aid, the balance on your loan will be accrued. If you are suddenly missing money in April, you can therefore by On April 1, get paid USD 10,580. This is the balance from January to April that you did not borrow. That way you can earn a larger loan amount. However, this is only going forward as you cannot get the loan prepaid.
The loan with the best interest rate
A special advantage of the loan is its low interest rate. During your education, the interest rate will be 4% annually. After graduation, the interest rate changes to the 1% + discount. Since the discount rate is currently 0, your interest rate drops to 1%.
In addition, repayment is required only started the year after the end of your education. Thus, if you completed your education in the fall of 2015, your repayment is only required to commence on 1 January 2017. That way, you are more likely to have a job and thus have a better opportunity to repay the loan.
Think before you borrow
It is important to point out that it is always a good idea to think before taking out a loan. Regardless of low interest rates, you will eventually face a debt that is higher than what you have gained value for. Make a loan only if it is a real need.