The loan for private training always pays off. Without a well-founded education and constant further education hardly a job can be kept permanently. The article provides more information on the various credit opportunities that make private involvement possible.
Credit for private education – public grants
The demands in professional life are constantly increasing. Only qualified people are up to the challenge in the long term. Training is not only exhausting, but also expensive. The loan for private training is therefore sought. The right financing model cannot always be found right away. Repayments always have to be made, but local banks, direct providers from the Internet and public funds are offered.
Public funding includes the German state funding and the education loan.
Everyone knows the student German state funding, the application forms can be found on the website of the Federal Ministry of Education and Research. The education loan is more interesting and not so well known. The offer is aimed at advanced training. There are no problems with the crediting of the income of parents or life partner with the education loan. With flexible loan terms, for example the variable application amount 1000 – 7,200 USD, the loan offer can be tailored to the actual financing needs. The payment of the loan can be spread over up to 24 months. Payment rates of 100, 200 and 300 USD are to be agreed.
Irrespective of this, a one-time special payment of up to 3,600 USD can also be requested. This way, even a larger project, such as a semester abroad, can be conveniently financed. The loan application is submitted to best credit company. The money from the federal development bank is extremely inexpensive. The borrowing rate as of April 01, 2013 is 1.34 percent. There is also a lot of time for the obligation to repay. This has to be started with a four-year delay after the first payment rate. The minimum rate is 120 USD per month. In addition, special repayments can be made at any time or the loan can be redeemed early.
Further credit opportunities for training
Many commercial banks offer credit opportunities that make it possible to concentrate on his education – his studies also focus. The savings banks, as the best known local credit institutions, offer the loan for private training in accordance with the requirements of the umbrella organization. The possible loan amount is within a range of 25,000 USD to 32,400 USD. The money is paid out over a period of up to six years. The monthly payment rates can be agreed between 250 and 800 USD. A repayment-free phase of 2 years is granted for professional orientation.
With a view to the interest rates, the loan comparison with the direct providers is still worthwhile. The savings bank loan is unfortunately equipped with variable interest rates and mostly the obligation to cover residual debt. At present, in a time of low key interest rates, up to 7.5 percent APR is due. Without fixed interest rates, the savings bank education loan can later become very expensive. The long repayment period of up to 10 years does not change this.
The loan comparison on the Internet pays off for credit for private training, as does the training itself.