Apply for Student Loan
I told you a few weeks ago that you should apply for the Federal financial aid. Student Loan – Conditions, Amortization & Application Student Finance has affected many students and even schoolchildren. Often the budget in the study is too low. One possible instrument is the Intrasavings Student Loan.
Due to the constantly improving conditions, such as low interest rates, this loan is preferred by most students. The term of the Intrasavings student loan is six to seven years. So-called undergraduate courses have a maximum study duration of five years and a longer study period of seven years, such as medical studies.
Postgraduate programs, such as master’s programs or doctorates, can be funded for a maximum of three years. For several courses of study to be funded by the scholarship, the maximum duration is seven years. If the student is 39 years old at the beginning of the study, since January 1, 2013, there is a maximum distribution period of six years.
The maximum term of the loan is ten semesters between 34 and 39 years. The student loan is for students of a state university who have a first or second degree, a master’s degree or a doctoral thesis. It should be noted that the loan has a maximum term of 14 years. The loan can be claimed by German citizens and EU citizens.
The age limit for the borrower is 45 years at the beginning of the study. At the end of the sixth half of the year, Intrasavings must be awarded a certificate of performance in order to prove that it has successfully completed a university degree and thus to maintain the loan. If you want to study abroad, you can continue to receive the monthly loan if you are in Germany.
The Intrasavings loan can also be claimed for further studies (eg secondary or postgraduate studies). In total, the loan amount is a maximum of EUR 54,600 if a Intrasavings student loan has already been used. Students who change their course of study during the loan period are deducted from the already completed study semesters. If no student loan has been applied for at Intrasavings so far, it should be possible to guarantee this loan during the entire study period after a change of subject.
However, there is no entitlement to the student loan. The repayment commencement date of the loan is six months, but no later than 18 months after the last distribution. It is possible to start in the month of September or September. At the earliest and latest terms, the calendar months between the last payment and the beginning of the repayment are offset.
So it does not matter if the student is still studying or not. The repayment period is greater, the greater the interest, but it is fixed and can not increase. In most cases, the term is ten years, an extension of up to 25 years is possible.
The repayment of the loan amount was only agreed at the age of 70 in May 2013. First, the system checks whether the student is at a university that is also eligible. Intrasavings provides a search function on its website for this purpose. The partners are many but not all building societies, student unions and cooperative banks.
Intrasavings makes a search for a contact person in the area available on its website. Anyone who finances their study program with Intrasavings’s student loan right from the start has a major shortcoming if they want to change their degree program. In contrast to the Federal financial aid, there is no postponement of the performance certificate for Intrasavings loans.
Apply student loan
However, the conditions in favor of the students were mitigated. First, after five semesters, he needed 120 ECTS, which corresponded to four completed study semesters, today he only needs 90 ECTS after six years. Those who initially studied without a Intrasavings student loan and apply only after a specialization change, should have no time problems.
After six semesters, proof must be provided. Normal credit institutions generally do not provide student finance and are generally reluctant to grant loans to students. Due to the extension of the loan offer in April 2013, the Intrasavings student loan is also possible for further study courses, such as the second year of study. That makes this loan especially versatile.
Because many banks do not grant their own student loans, they refer to Intrasavings and act as mediators. The Intrasavings loan is also attractive for older people. The Intrasavings also grants its loans to undergraduate students up to the age of 30 years. Thereafter, student loans, especially in the age group, are usually almost the only possible form of financing.
Banks providing student loans set higher key rates and do not provide full funding. All student loans, including the Intrasavings student loan, are subject to variable interest rates and may change. The interest rate of Intrasavings is set on the basis of Bankate. Nevertheless, the Intrasavings student loan is one of the lowest-interest loans. By applying for a fixed interest rate, the Intrasavings student loan has been available since MÃ?
The repayment period is then the entire term, but no more than ten years. Those who can not repay the loan over the next ten years risk increasing interest rates. In comparison to Federal financial aid funding, student loans are not eligible. In order to be able to forego student loans, the conditions for funding by the Federal financial aid must be substantially extended and tightened.
It should be noted in particular that the repayment of the Intrasavings student loan is fixed and does not depend on whether the borrower is employed or is still studying and can not afford to pay the leasing installments. Intrasavings loans are often selected by first-year students who come from a less well-earned household.
The freshers do not want to relieve their guardians with financial resources, so they opt for the loan, which is the worst option. Many low-income school leavers would rather not learn to seek help from their guardians.