We will be frank. Not everyone knows about the very possibility of obtaining a loan for education. This is due both to the lack of financial literacy of the population, and to the small advertising promotion of this type of loans by the banks themselves.
What is special about student loan?
Only every tenth person applying to the bank for funds for training (as a rule, this is a higher education) uses a loan for training. Any bank is interested in offering its customers the most popular “express loan” with the highest possible interest rate. And not in every financial institution there is the very possibility of obtaining such a loan.
It is very important to understand the difference between a student loan and a usual cash loan. All types of bank loans are divided into 2 types:
- the client receives cash on hand;
- non-cash transfers, also referred to as targeted.
For the latter, the interest rate is always lower. And educational - this is precisely the target loan.
Student loan at a Savings Bank
Sberbank has been issuing an educational loan for sixteen years, having opened the program in 2000. At the start, it was not popular, but later the number of loans issued for education increased many times. The popularity is due to a number of advantages characteristic of the largest bank in Russia:
- All leading educational institutions of the country participate in the loan program;
- the amount covers 100% of the cost of training;
- The state pays 75% of the refinancing rate for the client;
- lack of collateral or compulsory insurance requirements;
- Sberbank does not charge fees;
- the repayment period is more than ten years, and only interest will be paid during training;
- the loan is issued to students not only full-time, but also part-time, as well as evening.
The last point is especially interesting, because it was thanks to him that the loan for education became so popular. The bulk of people who take educational loans are not full-time students, but people who choose correspondence or evening education. The average borrower lives in the Volga region or the Urals region (the largest number of loans is taken there).
The list of educational institutions
The number of educational institutions for training in which you can get an educational loan to Sberbank is constantly increasing. The list of universities includes 128 items. Among them:
- Moscow State University named after M.V. Lomonosov.
- Peoples' Friendship University of Russia.
- MGIMO of the Ministry of Foreign Affairs of Russia.
- MSTU named after N.E. Bauman.
- State University of Management (GUU).
The largest St. Petersburg universities and other universities across the country, including the Far Eastern region, have concluded contracts with the bank. Regardless of which educational institution is chosen, the client can count on an incredibly low interest rate. All this thanks to the help of the state.
Government subsidies
Budget places are not enough for everyone. The outlet for those who did not pass the scores is the commercial form of education. In order to increase the accessibility of this model of education, a state support program was created for those who took an educational loan. Sberbank was called to implement it. An educational loan with state subsidies is much more profitable than a similar loan issued on market conditions.
Support is that the government repays part of the accrued interest on the overpayment for the borrower. For an Sberbank educational loan, the amount of state subsidy is three quarters of the current refinancing rate set by the Central Bank.
Example: with a loan interest rate of 15% and a Central Bank refinancing rate of 10%, a client receives a 7.5% discount from the state. Thus, instead of 15 percent, he will pay only half, that is, 7.5%. The remaining amount is compensated to the Sberbank by the Russian government.
Terms of receipt
Among Russians, Sberbank is closely associated with the authorities. It is believed that it is fully state-owned. This has its pros and cons. The undoubted advantage is that the bank is always at the forefront of innovative transformations. Has access to cheap, affordable public money. And thanks to the gigantic reach and the same profit, he can guarantee conditions that competitors are not able to offer.
An educational loan at Sberbank is not an exception, the conditions of which are really maximally profitable in comparison with other offers. To get this loan, you must meet the following criteria:
- to be a student of an educational institution collaborating with Sberbank;
- age from 14 years (until the age of 18, the client will need a co-borrower);
Citizens under the age of majority will need to provide written consent of the representatives of the borrower, birth certificate, permission of social authorities.
Cash issued under the following conditions:
- currency - Russian ruble;
- interest rate at the moment - 7.62% per annum (including government support);
- loan amount is equal to the full cost of training (100%);
- maturity - up to ten years after completion of training.
All these conditions apply to educational loans issued with state support.
Order of receipt
A loan can be obtained at a bank branch located in the region where the borrower or educational institution is registered. As soon as an educational loan is issued, Sberbank sends money by wire transfer in favor of a university with which a borrower has an agreement. Payments are made in installments for each semester.
Repayment nuances
The borrower does not make payments for the loan during the first three months after completion of training, thereby receiving time for employment. After this period, payments must be made in full. As mentioned earlier, during the training itself, only interest on credit must be repaid. Moreover, in the first year we are talking only about 60% of the accrued interest, in the second - 40%, and then in full.
Early / partially early repayment is also possible . For this, a statement is written with the date and amount of the contribution, the minimum boundaries of which are not defined. Additional commission for this is not charged. In other words, when arranging an educational loan with state support, Sberbank tries to alleviate the burden of the borrower as much as possible.
Customer opinions: to take or not to take?
What is the general client and expert reaction to an educational loan at Sberbank? The reviews and opinions of analysts from leading business publications indicate that the service is popular and turned out to be quite successful.
The loan portfolio of the bank is constantly growing. The percentage of overdue loans in this category is close to the error. There are, of course, a number of complaints, but all of them are of a technical nature or come from failed customers.
Of the pluses, the fact is noted that when arranging an educational loan, Sberbank does not require any collateral. For an applicant who finds himself in a standard situation, when the USE scores were not enough, and the desire to get a diploma did not disappear, such a loan is a real salvation. And for poor families, such a solution is often the only one.
The speed of consideration (up to four days), as well as the already mentioned low interest rate, are also important here. The main disadvantage of the borrowers called the psychological moment of expectation of "reckoning". Indeed, with each year of study, the prospect of the need for calculation is approaching. If the decision to take a loan is nevertheless made, then there is no doubt one thing: Sberbank of Russia should be considered first. An educational loan here is by far the most profitable.