Education Credit – How to apply
@iThe school days are over – the career path begins. Many school leavers are out and about with a lot of euphoria when it comes to finishing their apprenticeship and earning their first own money. However, the financial situation is usually less rosy during an apprenticeship – and the money is far from sufficient to finance one’s own life. A loan for training can help here.
Learning makes sense – but is expensive
The monthly expenses are usually difficult or impossible to cover with a training fee. However, there is not enough capacity in both training and studies to earn additional money, for example with part-time jobs. Here, a loan for training can help to use the training time effectively for learning and still have sufficient financial resources. And there are many ways to get and use the training loan. Credit institutions offer good advice here.
What is special about the loan for the training?
The peculiarities of this loan are very diverse. On the one hand, financial institutions often offer very favorable loan terms for this loan. After all, the student or trainee is tomorrow’s high-earning customer – a very good investment. In addition, the terms of repayment and the payment of the loan for training are often different.
What distinguishes the loan for training?
The training loan is usually not paid out in one sum, but in monthly installments. In this way, the trainee or student can have a fixed income every month and the overview of finances is retained. There is also a different procedure for repaying the loan for the borrower than is the case with classic loans.
Depending on the financial institution, the repayment of the loan can not begin within the reference period of the loan amount, but after the end of the training relationship and the start of professional life. Institutes even offer a delayed repayment of the loan, which means that installment payments only have to be started three or six months after starting their career.