Student loan - entrepreneur's capital
Surprisingly few university students decide to take advantage of the student loan. Why surprisingly? Not only is a student loan the cheapest loan on the market, you can also earn on it.
Student loan - rules of granting
Student loan can be obtained by students and postgraduate students who started their education before the age of 25. It does not matter whether the university is a public or private university, or whether you study full-time or extramural.
The loan may be granted to those whose income per family member does not exceed the amount determined by the Minister of Science and Higher Education. In the 2017/2018 academic year, the student's income entitling him to a loan was PLN 2,500 net per person.
The student submits the application for a loan at a selected bank branch. The student is required to attach to the application information about the amount of monthly income per person in the calendar year preceding the application, and the method of documenting it is similar to applying for a social grant. By February 15 of the following year, the bank assesses the collateral for the loan repayment, and the contracts must be concluded by March 31.
The loan is paid out every month during the academic year, thanks to which the student obtains a total of PLN 6,000. annually. During the studies, the student does not bear any loan costs. He begins to pay it back only 2 years after graduation, and the repayment time is twice as high as the number of installments paid. Until the repayment begins, all interest is covered by Bank Gospodarstwa Krajowego from the funds of the Student Loan and Credit Fund.
If a student completes his studies in the group of 5% of the best graduates, he can count on the cancellation of a part of the loan! In such a situation, you should ask the university to fill in a certificate in which it will note the fact of being one of the best graduates.
Student loan as starting capital
A student loan is one of the cheaper loan options on the market. In addition, every enterprising student will remember to put this money on an interest-bearing savings account. If they do not use them during their studies, after their graduation, they will be able to use them to start their adult life. It may be a very good idea to start your own business. Thanks to the accumulated funds, the graduate has a guaranteed start-up capital, the lack of which is undoubtedly the main problem of beginning entrepreneurs. If you are thinking about starting your own business after graduation, it is worth applying for a student loan, because you cannot look for a better method to obtain such "cheap" money without even showing creditworthiness, which most students do not already have after graduation.
Student loan on a savings account
How much can you gain by putting funds from a student loan into a savings account? If we put money into a savings account with an interest rate of 5%, after 5 years of study, the interest profit will be over PLN 3,000. zloty. On the other hand, if, two years after graduation, a graduate decides to still not use the funds accumulated on the savings account, he may obtain up to 6,000. After more than 8 years of repayment, if the funds would still remain in the account, and the monthly installment would be over PLN 300, the graduate may have up to PLN 11,000 at his disposal. zlotys. Therefore, it is worth not to spend the accumulated money (if possible) during studies on ordinary consumption.