As a student, it is truly not easy. This applies above all to the financial flexibility. For example, if one’s own vehicle has irreparable engine damage, even thousands of thousands of dollars seem unattainable to most students. Loans from banks would be the salvation in an emergency in such a case. However, the lending of many institutions understandably requires creditworthiness from the borrower. Since students usually have little or no income, the award is comparatively difficult. Also with regard to Schufa, most students are rather disadvantageous. Despite all this, there are some banks offering a special loan for students in their product portfolio. The following text shows which providers provide such a loan.
Which banks provide student loans?
Meanwhile, the banks seem to have recognized the changing times and see in the students the target group of tomorrow. This was one of the reasons why they decided to offer special loans that are only granted with mediocre or nonexistent creditworthiness. On the one hand, a distinction is made between an ordinary personal loan for all kinds of purchases or a special loan, which exclusively serves to finance one’s own studies. The conventional banks are currently having a hard time lending to students. Online banks, on the other hand, are more adventurous and are already offering large amounts of loans for just this target group, although the interest rate is also rather modest in order to be able to make a commonly agreed payment term realistic.
The KfW education loan
Who decides in this case for the KfW education loan, can take a loan amount of up to 7,200 euros. To ensure that this is granted exclusively for study, the same is paid by the respective bank in 24 installments of 300 euros each. The first installment must be made four years after the first payout. Monthly would therefore be 120 euros due, with a quarterly debit is possible. The maximum age, however, is the 36-year mark. In addition, intermediate or intermediate diploma must be passed.
The savings bank student loan
But even Sparkassen Studentenkredit can benefit from some interesting advantages. However, the offer varies from branch to branch. However, monthly rates of up to 555 euros are possible. As a total amount can be quite sums between about 25,000 and 32,000 euros to complete. The first installment must be paid one to two years after graduation. The term can be selected up to ten years.