Deciding for a student loan allows students to obtain additional financial resources that can be spent on studying and staying in the course of studying.
At the same time, subsidizing interest by the state means that student loans can be obtained on very advantageous financial terms in relation to standard consolidated loans available in banks. In addition, the loan can be used for any purpose, which means that many students decide to take out a loan for investment purposes or to set aside funds for the future.
Interest on student consolidated loans is only half of the promissory note rediscount rate, which is set by the NBP. In this way, interest on student loans is very beneficial. Both students of public and non-public universities can apply for student loan, regardless of the mode of study.
The only limitation in obtaining student loan is income per person in the student’s family. An additional limitation is age. Student loans can be obtained by people who are under 25 years of age. Loans are also directed to people continuing their education at doctoral studies.
Family income and credit for the student
Student loans are directed to students from less affluent families. In individual years, a maximum amount per one person is determined in the student’s family, which entitles to obtain a student loan. For the current academic year, such maximum monthly income per capita in the student’s family has been set at PLN 2,500 net.
How can you apply for a student loan?
Obtaining student loan requires meeting certain formalities. First of all, it is necessary to submit an appropriate application to the bank that grants student loans. In the application, it is necessary to indicate the student’s family income and documents that confirm such income. Such documents allow to provide information necessary to assess creditworthiness. The student must also obtain a certificate from a university that confirms the student’s status.
Security for student consolidated loan
Student consolidated loans require collateral, where banks require a loan guarantee. Depending on the creditworthiness of the guarantor, it may be necessary to present one or more guarantors. If the parents do not have adequate creditworthiness, the student may apply for a surety from Bank or the Agency for Restructuring and Modernization of Agriculture in the case of students from rural areas.
The guarantee from BGK applies to students who have been deprived of parental care and have no income of one hundred percent of the loan amount. In the case of students whose income per capita in the family exceeds PLN 1,500, they can also count on a guarantee of one hundred percent of the consolidated loan amount.
On the other hand, ninety percent of the student loan can be counted on by students whose families do not exceed income per person in the amount of PLN 2,000.