Student loan terms – are they favorable?

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Full-time studies in Poland do not require tuition fees, which does not mean that they cost nothing. After all, most people no longer live in the city where they want to study. It will be necessary to move away from parents and move to a new housing, so the cost of living will increase drastically.

Not every family is wealthy enough that spending of several hundred or even over a thousand zlotys per month will not be a problem. It is true that you can work while studying, but only on holidays or vacations. This will not allow you to generate sums that you can earn all year round.

The solution to this problem may be a loan only available to students. Thinking student loan terms are the first thing that interests us. Are they profitable? How much credit can you get?

Student loan terms

Student loan terms

First of all, it should be noted that not everyone will be able to receive such a loan. It is to help the poorest, and therefore very wealthy people will undoubtedly exceed the income threshold for student loans set by the Minister of Science and Higher Education every year.

In addition, it will not do without a guarantor. If we have low income, he may think about a guarantee by Bank Good Finance. However, he will later charge a small commission on each loan tranche. The good news is that both full-time and part-time or extramural students can obtain student loans.

How much is the student loan

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Depending on our needs, we can receive PLN 400, 600, 800 or 1000 per month. The tranches are paid for 10 months of the year, i.e. only during the academic year.

What makes it so profitable is the fact that we start paying it back only two years after graduation. During this time, we can stabilize our financial situation and develop professionally. In addition, no interest is accrued up to this point, and once they accrue, they will be very low.

Where can I get a student loan?

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Not every bank in Poland grants student loans. There are really only a few possibilities, and each one has different conditions. In general, we will have to prepare for a small commission on the payment of each tranche. It also happens that you will need to set up a personal account in a given bank. So let’s get acquainted with all offers and then choose the one that is most beneficial to us.

If we are interested in student loans, the conditions it offers will certainly be beneficial for us. This is a much cheaper and more convenient option than payday loans or consumer loans.

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