Nowadays it is not necessarily easy to get a good student loan. If you receive a rejection of your Credit Aid application, you must deal quickly with very high interest rates, as banks often want to take advantage of the needs of students. Due to the low interest rates in the market and other factors, it is not difficult for the student to get a student loan. Unfortunately, the exception to this rule is in the case of a second degree. The Credit Aid in the second degree sounds good for the time being.
Student loans Second Degree
Nowadays, it is no longer necessarily easy to get a cheap student loan. If you receive a rejection of your Credit Aid application, you must quickly deal with very high interest rates, as banks often take advantage of students’ misery. It is even more difficult if it is not the first, but the second study.
Nonetheless, there are ways to get a student loan – we make it clear what everything depends on. Student loans – what financing options are there? Mostly a student loan from a house bank is the optimal choice for a second degree. If you are under the age of 30 and do not have Schufa entries, you will usually get a time study loan from most banks.
Important: Compare the offers of several banks and pay special attention to the effective interest rate. However, you probably need to convince your house bank that you need money for your second degree. That’s why a syllabus is recommended. For student loans, it is often the case that after the third semester after the end of the standard period of study, the credit institutions no longer guarantee the payment.
Get a student loan
You should therefore take this limit into consideration and at the same time make every effort to complete your study program on time. Most credit institutions will need to submit the protocol anyway before approving a loan application. If a loan from the house bank, this is usually paid out in monthly installments.
As a rule, the payout amount can no longer be influenced because the total loan amount is determined when the contract is concluded with the house bank. In principle, the subsidy amounts to about 200 USD per year in the first year, later it can be up to 800 USD per year depending on the contract. Important Note: You acknowledge a reputable house bank that the repayment amount including interest for the student is not more than 30,000 USD.
This means that a loan amount of up to $ 500 per calendar month started can be realized with a maximum term of five years. For a student loan, the repayment does not take place with the first payment, but only after completion of the study. Then he can team up with the house bank again and set up a suitable repayment plan.
If you have your first real full-time job with the appropriate salary, you must repay the student loan until the third month of life. If you have already completed your first university studies but wish to study again, you will generally no longer be granted a permit. However, there are a few special cases that still make it possible to obtain the Bachelor of Arts (Credit Aid).