The summer semester is just around the corner, and many full-time and part-time students are on the payroll, and so many are likely to grow worry lines on their foreheads. Anyone who studies or plans to study is regularly confronted with the following questions: Are Bafög, student loans, scholarships and any earnings worth living in the next semester? Will the financial resources be sufficient until the, hopefully successful conclusion? Those studying extra-occupationally will also check the security of their income. Those who do not have wealthy and “willing to pay” parents or relatives, but still would like to take up a study or continue to run, so often has a financial problem. The obvious solution to all these questions could be to take an education loan or a loan for students . But even this will probably be considered and if you ever brooded over the numerous loan offers: How high will actually be the mountain of debt on which one will one day sit?
Studying is costly
Tuition and materials, housing and other living expenses – studying is undoubtedly expensive and costly. Happy So Those who are financially well placed from home and who can claim permanent financial support from parents and close relatives. Unfortunately, most of the students are not in such a comfortable situation and need to be more profound about the financing of their studies – that is, they are thinking differently. Bafög can be a solution, but again there are certain requirements to be met in order to enjoy the benefit of this financial support from the state. A part time job or student job is certainly another way to improve your own financial situation a little, but this money is usually not enough to be able to study reasonably (money) worry-free. Ultimate solutions often end in the thought of one of the many offers for a student loan.
Student loan as cheap as never
Currently, the low interest rates for an education loan or student loan make it more attractive than ever to consider further qualification or studies. The variable interest rate on the educational loan and the Bafög bank loan has reached a historic low: in effect, just 1.03 percent interest is required annually, and when interest rates are recalculated in the spring, there is little to worry about.
However, it is currently difficult to predict how long interest rates will remain so low. A group of money market experts still sees him in the basement for at least five years. Other experts believe interest rates will rise again this year. From a purely mathematical point of view, there is not much talk against continuing to educate yourself with the help of a student loan.
However, 3 things should be strictly observed: First, you should keep the debts in the context, you should study the right subject and you should get the positive conclusion of the study. In view of the good chances on the job market after completing a successful study, it is worthwhile to take an education loan in the vast majority of cases.