Student loan: amount, price, guarantor ... What you need to know about what banks offer

Student loan: amount, price, guarantor … What you need to know about what banks offer

The summer period is a good time to choose which banks to turn to for a loan for many students. We explain how it works.

While they have just earned their baccalaureate degree, new baccalaureate holders will now discover higher education and the costs involved. Student cost of living, housing, food, etc. Many expenses are added to the wallet and in the event that it is not possible to count on the family assistant, some have no choice but to take out a loan.

This is the purpose of student loans. Some banks take advantage of these study moments to offer students help with their recruitment or retention. Here are the characteristics.

Who can benefit from it?

As its name suggests, student loan is aimed at students. So the beneficiary must be able to own a student card or one school certificate. Age is also an essential criterion. The loan is for adults only. You must also be French national or have resided in France for at least 5 years adding capital.

Can we loan in the absence of a guarantor?

The amounts to be borrowed vary between banks. can range from 750 EUR For Credit Agricole Ile de France 120,000 Euro In the Société Générale, Le Parisien identifies.

However, creditor institutions are studying the ability of people who stand as guarantors for students. If the latter can’t find any, the state can take care of it through Student loan with government guarantee. This concerns loans of a maximum of 20,000 euros over two to ten years, the capital confirms.

The student loan must be offered by the banks that are partners in this approach (Credit Agricole, Banque Populaire, Postal Bank, Crédit Mutuel, CIC, Société Générale, Caisse d’Epargne). Each of these brands has a limited loan amount for the year.

What is the rate?

There is another critical factor when searching for a suitable student loan. that of the rate. It is convenient for the student and his entourage to choose the one who will be most useful to him, he can be good 0.6 to 1.5 According to the Paris bank comparison. Sometimes the price is 0% but this relates to promotions from LCL, Caisse d’Epargne Île-de-France or Banque Populaire Rives de Paris with amounts limited to €5,000.

about repaymentThe student loan can start immediately after the end of studies but it can also be deferred. This is a discussion to have with a banking advisor.

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