Can a student take a loan?

A student who is not working, not receiving a salary, having only a scholarship, can get a loan, but this will be done not easy. The decision to grant a loan to a student depends largely on what purpose the student takes a loan. It could be tuition feeit could be big purchase.

It’s easier for a student to get a loan. He must submit documents to the bank confirming that he is a student of a certain educational institution. This should also be confirmed by parents and guarantors.

FROM 18 years (or earlier) unemployed students will be given a loan for special education program. A potential student receives a loan from the bank to pay for tuition at a university; during training, he pays only interest on the loan to the bank. After graduating and getting a job, he pays the amount of the main debt.

This program operates at Sberbank of Russia. Such a loan can be obtained by citizens of the Russian Federationfrom 14 years old (in this case, permission of the parents and guardianship authorities will be required).

The student will receive a consumer loan if he can confirm his solvency to the bank. The student receives a scholarship (this income is permanent), the student may have some values, on the security of which they will give him a loan. Additional student income (eg, having a part-time job in his spare time) will increase the chances of getting a loan.

Positive credit history gives additional opportunities for obtaining a loan, and the loan will be given at a lower interest rate. In this case, the risk of non-repayment of the loan is less, the bank does not need to lay down its risks at high interest rates. You can read about how to get a loan with bad credit history without income certificates in one of our materials.

Any citizen from 18 years old can get a loan on a common basis. If there is no desire to pay increased interest, then it is better to apply for it with 21 of the year. A student may have debit card. Regular and significant operations on it will give more chances to get a loan. To do this, the bank should provide an extract confirming the movement on the card.

Banks do not want to take risks and give loans to young people who do not have a profession, and, consequently, a permanent job. No one wants to take on the unsupported risks of non-refund. All the time the student is busy with his studies, the opportunity to earn is not enough. Therefore, student income is limited, the amount of monthly loan payments, too. We recommend reading an article about profitable work on the Internet for students and not only.

If a student wants to get a loan for the purchase of equipment, then it will be easier for him to do this at points of sale of this equipment. In this case, loans are issued at simplified scheme. But the student most likely will not receive a loan for a major purchase.

Student (non-working) is likely to receive a minimum loan amount within from 15,000 to 50,000 rubles. If he had a need to receive a large amount, then he would need additional guarantees.
An additional guarantee of loan repayment may become guarantor (or several guarantors). The surety is not obligated to repay the loan together with the borrower (unlike the co-borrower), but he will repay the loan if the student cannot repay it.

There is another possibility of obtaining a loan to a non-working student - this is attraction co-borrower. His income will be taken into account when determining the amount of the loan (of course, it will affect it to a greater extent), he and the borrower are liable for regular payments to repay the loan.

A non-working student can get a loan in cash or by bank transfer, applying for credit card. There are special lending programs for young people offered by many banks. For these types of loans, special bonuses, a low annual cost, a discount system are provided.

Also read on our website detailed material on how to take a loan online on the card instantly around the clock and without refusal.

At first, the student cannot hope for a large limit on the card; the limit will be very limited. The limit will increase over time if the borrower strictly complies with the loan repayment terms.

Youth card loans provide for very high interest, but if it is very reasonable to use the grace period (the so-called grace period), then at minimum interest the cost of such a loan can be minimized.

In conclusion, we recommend watching a video on where to get money, even if all banks and microloans fail: