Not everyone has heard about the possibility of taking out a student loan, which is a student loan, although so far several thousand young people have used it. How things are with this loan, explains the financial service expert Comperia.pl.
Credit information should be provided to students at universities. They should especially reach students, students and doctoral students who are in their first year of study. However, the most details can be obtained at the branches of banks granting this type of loans. Below is a handful of data on these loans that may allow potentially interested persons to make a decision on this issue.
The idea of a student loan was implemented in Poland in 1998. The goal of its creators was to increase access to higher education for the poor. The system of this type of loans complements other forms of material assistance addressed to university students. Student loans are granted by commercial banks, and the interest rate subsidy is from the state budget. Before 1998, a student could only benefit from such material assistance as scholarships (academic and social) and grants.
Who can take and whom they give
To apply for a loan, several conditions must be met. The basic one is to start university studies, which must be before the age of 25. The type of university does not matter: state or private or the mode of study (full-time, part-time, extramural). Since 2004, due to changes in the provisions regarding this type of loan, additional doctoral students as well as students and students (but only civilians) of military universities such as WAT or AON may apply.
In the first place loans are granted to persons whose financial situation is the most difficult. Each year, the maximum amount of income per family member who entitles you to this loan is determined. The maximum income rate per person from year to year is increasing. In the academic year 2008/2009 it was 2,500 dollars per person in the family. The procedure is that you first need to submit applications and documents, and then you receive information on whether the income threshold conditions are met.
Payments, repayments and redemptions
The loan is granted for the duration of studies. For higher education, it is paid for a maximum of 6 years, PhD students can use it for 4 years. The student receives money for 10 months in the academic year. Has the option to choose the tranche: dollars 400 or dollars 600
Loan repayment should start after 2 years from the end of studies. The number of student loan installments repaid is always twice the number of loan installments paid. As a result, the loan repayment installment is much less than the monthly amount of tranches paid to students. The interest rate on such a loan is half of the NBP rediscount rate (currently this rate is 4.25%) and changes with its changes. This amount can be reduced to 20%. the borrower’s income in a month.
It is possible for a student loan to be canceled. Students who found themselves in the group of 5 percent university graduates with the highest final result can count on 20% loan redemption In an even larger percentage or even in full, it may be discontinued due to the borrower’s difficult life situation (caused by an accident or serious illness). Disabled persons can also apply for the loan cancellation.