Discover Student Loans | Student Loan Planner

Discover student loans, a good solution for all those who need extra cash to cover their school expenses and their university and post-graduate careers. Study loans, school loans, university student loans: these are all loans that fall into the category of student loans.One of the heaviest burdens on the university student is the economic one. The university instalment, the cost of books and life often outside the university, the lack of own income, imposes economic sacrifices and in many cases puts at risk the same possibility of continuing one’s studies. What to do? Loans for students granted by banks are one of the solutions. The family is traditionally willing to finance the studies of their children and the goal ‘university’ is certainly a dream for which many parents (and often grandparents) are happy to provide financial resources.

But there are cases in which the family just can’t make it and cases in which it is the same student who for his own pride prefers to make it with his own legs, perhaps working and studying at the same time, maybe managing to access a scholarship, maybe applying for a loan of honor, maybe applying for a loan for students at a banking institution. Be brave, you can do it. Today we focus on this last solution. Student loans are special credit lines designed for young people and that take into account the fact that the repayment must be sustainable for the student, ergo the installments must be low as well as interest rates. In this way, the banks themselves make a kind of investment in the future of young people, expand the client base and lay the foundations for a lasting relationship.

Bank loan for university students! What does that mean?

At first glance, it seems that the whole phrase is easy to interpret, to understand: it seems to refer to that part of the banking system that specializes, in providing funding to university students. Well, let’s consider that only a small part of it is so! Let’s see why and then indicate the few and REAL loans for university students without income without payroll and without some guarantees. Think that the commercial formulas or products adopted by these banks often include the wording “fiduciary loan for university students” or “honorary loan for university students” using a Latin style, or “honorary loan for university students” using the current language, and similar phrases which, all of them, would suggest that you are dealing with a financial product created specifically for university students. In most cases this is not the case! When you contact the bank and/or financial institution, even online, you will realize that, despite the name, in essence, nothing has to do with the status of university student, as it will require the usual guarantee: income and / or third party guarantor!

How does the student loan work?

Student loans are classified as finalized loans, i.e. as forms of consumer credit that may be required for the purchase of a good/service, in this case a service aimed at supporting the studies and training of young people. Generally, these are subsidised loans for young people, the result of agreements between banks and universities or linked to specific social initiatives (student loans of honour). Student loans are intended for those who attend three-year or specialist degree courses but also for those who would like to enrol in a university master’s degree or post-graduate course (student loans for masters). Student loans can also include credit solutions to finance a period of study abroad (loans for university students abroad), the purchase of a study tool (a computer or textbooks, for example), the payment of a rent away from home, and much more.

Student loan grants and honor loans

The most affordable study loans include student loans with grants and student honor loans. In both cases, subsidised loans are used to provide financial support for the education of the most praiseworthy students. For this reason, they are linked to the development of the young person’s university career and are provided only to those who have certain characteristics of merit. For example, this type of funding includes the ABI study fund. The Fund for the credit to young people is intended for individuals aged between 18 and 40 years and the guarantee of the Fund is granted in the amount of 70% of the loan, disbursed in annual installments with an amount between 3,000 and 5,000 dollars and up to a maximum amount of 25 thousand dollars.

Loans to working students

There are also loans for working students with advantageous features such as being able to start repaying the loan once they have completed their studies. In this case, you should present your income statement (CUD or payroll) to your university and ask for information about the benefits for this category of students. If you do not have an income, however, to obtain student loans, you can also present a person (for example a parent) as a guarantor who will take responsibility for repayment in the event of non-payment of installments.

How to obtain a student loan?

For young people who want to obtain a loan to students, it may be useful to contact the secretariat of your university to find out if the university, the region or your municipality provide facilities for students, such as scholarships, student loans or loans of honor for students and for the university education of young people. Is there a loan to students without guarantees? When it comes to financing for study, i.e. a loan for students without a paycheck or loans for university students without income, however, you should be careful not to delude yourself and asking the bank for a solution of this kind is equivalent to receiving a loan to students without guarantees.

Online student loans

Once the possibility of obtaining a loan for the study has been ascertained, in order to orient oneself among the numerous solutions of loans to students, it is necessary to compare the loans for students online, or to ask for a quote on a comparator via the web in order to identify the most convenient student loan. To make the comparison just fill out the online form and indicate the type of loan finalized, the desired amount, mobile phone number and email address to receive a free consultation and possibly apply for school loan or student loan via phone or web.

Before signing a contract for a loan it is very important to know the amount of the repayment instalment. Calculating the instalment of a loan in advance not only gives you a better idea of the feasibility of the operation, but also allows you to evaluate the convenience of the formula chosen. Through the calculation of the instalment of the loans it is possible to understand if the amount of the instalment is sustainable compared to the current income, and above all reconcilable with all other recurring expenses.

Loan installment: what are the main items of expenditure?

Before contacting a credit institution, it is important to define the amount you need and the duration of the loan contract, i.e. how many years you are willing to repay the amount requested. These two factors will also determine the amount of the individual installments and their frequency of payment. In addition to the amount of money required, other variables must be taken into account when applying for a loan, i.e. all the items of expenditure that are taken into account when calculating the financing. The main ones concern precisely the interest rates of the loan, represented by the TAN and the TAEG. In fact, the amount of the loan repayment instalment is always made up of a share of capital, i.e. the sum requested from the credit institution, and a share of interest. This is what the interest rates of a loan are:

– The TAN represents the “pure” interest rate, i.e. the fee required by the bank to lend a sum of money for a certain period of time.

– The APR refers to the total cost of the financing on an annual basis, so it includes the Tan and all the additional costs necessary to obtain the financing, such as: the costs of investigation, opening and closing the file, any insurance policies, government stamps and also interest on arrears.

Please note: even “interest-free” loans may include extra costs in the calculation of the installment. For these types of financing the TAN will be zero but the APR could still have a weight, including all those expenses related to the management of the operation. For this reason, you should always pay attention to both items, as they may also vary according to the chosen credit institution. Given the wide range of credit market offers, in order to choose the most advantageous financing solution, it is always necessary to compare the conditions of several financing solutions, including in the evaluation also the Quicken loans payment, which can guarantee the disbursement of money even within 24/48 hours and in total security.