Student loan is a form of co-financing studies on much more favorable terms than consumer credit. Its purpose is to support less well-off students. Student loan is dedicated to university students and doctoral students, regardless of the mode of study (both full-time and part-time). The age limit that allows you to get a loan is 30 years for students and 35 years for PhD students.
Where to apply student loan?
When to apply? Another condition is the fulfillment of financial criteria – they are analogous to the conditions for obtaining a social scholarship. The income criterion is the basic condition for obtaining funding. To obtain a loan, it is also necessary to obtain a surety – usually such a guarantee is given by the student’s parents.
You can apply for a student loan throughout the year, and applications are processed within 30 days.
Loan repayment terms:
The monthly installment of a student loan can be 400, 600, 800 or 1000 USD depending on the loan amount you choose.
Student loan is granted to students for a maximum period of 6 years, in the case of doctoral students it is a period of 4 years. The tranches are paid for 10 months of the academic year.
The loan repayment begins 2 years after graduation. The number of installments is twice the number of student loan tranches paid, and the interest rate is half of the rediscount rate of the National Bank of Poland, i.e. just 0.875 for 2019.
In the case of a student loan, you can apply for a reduction, suspension or total write-off in the event of a difficult financial situation of the borrower or when he is in the group of the best graduates. To sum up, student loan is a cheaper alternative to consumer loans, which thanks to its favorable conditions can be a cost-effective way to cover expenses related to college education.