MonthAugust 2019

Financing Student – Instant Loan Online

To finance your living while studying. Optimally tailored to the needs of students. Payment in installments is not possible directly at Cyberport but is handled by the financing partner Gortabank. Students must present a copy of their student ID. For example, if you are at least six months old and can prove that you are employed by your current employer, the Gortabank offers very good conditions.

Student finance

Student finance

Approximately 2.8 million students are enrolled at the universities in Germany, about half a million “freshmen” are added every new semester. However, the appropriate financial framework is not self-evident – at least for most students. What are the students living from today? According to a study carried out by the uni-vat personnel service provider, seven out of ten students receive funds from their parents, with half of them receiving these scholarships in particular.

A few years ago, this was not so pronounced: “Today more students live with the support of their mother society, while the importance of all other financing options decreases,” the study said. The number of Bankile students continues to decline. As a rule, half of this money is granted as a subsidy and half as interest-free credit.

Of the loan amount, a maximum of USD 10,000 must be repaid, explains the DWH. Even in the 1980s and 1990s, it was not unusual for students to have a job that they largely self-financed. It is not always possible for a parent to reach far into their pockets and take on the role of financier.

After all, three out of ten students are so disappointed by their uncomfortable financial situation that they stop over and over again with the desire for a premature termination of their study visit. However, if your personal financial requirements during the study period are permanently higher than the funds available through the Hauseltern, the Bankile and part-time jobs, the consequence should not be the termination of the study visit or a permanent current account overdraft.

Cheaper ways to finance students

Cheaper ways to finance students

There are cheaper ways to finance students – for example, student loans that are poorly understood by many students. Despite these benefits, not more than seven percentage points of students have opted for this type of funding. Even for young adults, this is a way to gain further independence from their fathers.

Student loan Studentenwerk

 

 Borrow money to finance your studies

Borrow money to finance your studies

If you would like to borrow money to finance your studies, you can get free and independent advice from our student advisory service. Bank plays an important role in financing education. On behalf of the Confederation, it is currently active in the areas of “interest-bearing bank loans under the Federal financial aid”, in the “Federal Education Credit Program” and with its own ” Student Loan”. A number of banks have been offering student loans for some time. For example, the supraregional provider is the promotional bank with the student loan, which you can also get advice from us. It offers all students advice on loan conditions and assistance in concluding the corresponding loan agreements.

Student loan from the Bank

Student loan from the Bank

The interest on the student loan is payable from the beginning of the payment. The student can arrange the whole term of the loan freely. The income of the spouses is insignificant, there must be no securities available. The repayment commencement takes place six months and 23 months after the distribution phase in monthly installments of at least 20, – USD.

A repayment can be made over 25 years, delimitations are possible. It is recommended that you have detailed information from our staff about the conditions of a student loan. Please contact us. The amount of loan repayments to be paid after graduation and above all accrued interest income should not be underestimated. More information about the application and a repayment calculator can be found here.

Student loan from the Bank

Student loan from the Bank

Many banks offer special loans for students with very different conditions. This offers the students (independently of Federal financial aid) a further financing option – without checking their own earnings or the financial circumstances of their own families. German citizens, family members of a German citizen who are with him in the Federal Republic (own nationality is irrelevant), citizens who have been legally resident in the Federal Republic for three years, family members of such an citizen,

Stay with him in the Federal Republic (the own nationality and length of stay in the Federal Republic does not matter) ie students with foreign citizenship, who have reached university entrance qualification in the Federal Republic or at a foreign university. The funding is for first and second degree courses (Bachelor, Diplomas, Teaching, State Examination), for further courses (Master, Supplementary, Postgraduate and Postgraduate) and PhD programs.

Remaining term of the loan for the repayment phase

Remaining term of the loan for the repayment phase

The proof of achievement must be provided at least after the sixth semester, otherwise no further payments will be made. The repayment amount must be paid within 25 years after the end of enrollment and at the age of 67, and there is no waiver of short study periods, good grades or early payback. If, for example, 400 USD per month are received from the Bank for ten half-years, the result is 24,000 USD in debt – plus interest.

However, you can also choose a fixed interest option for the remaining term of the loan for the repayment phase. Before you take out a student loan, you should always obtain information from the education grant or the Sozialberatungsstelle of the Studentenwerk about whether there are even cheaper financing options for your studies (Federal financial aid, student loans, etc.).

This additional offer is not considered by the Studentenwerk to be a graduation, ie with the purpose of granting as many loans as possible, but is seen in the student advisory service.

Best Loans – Search and find the best loan online in 2019

 

The development in the market has meant that today there are many opportunities for borrowing online. This is especially true of consumer loans, where there are a large number of companies on the market.

Here we have created a service that can help you get an overview of what you should notice when you apply for a loan online. So if you are considering making a loan, we can help you here. It might be that you need money for a new car or the journey you have long dreamed of. We hope to provide you with a better starting point for choosing the best loan for you.

Find the best loan online

Find the best loan online

When you talk about online loans without collateral, you talk about consumer loans. In short, it is a loan type, where it is not required, that you pledge collateral in personal assets. This is a big plus for many who feel that they do not ‘risk’ as much as other types.

Today, there are a large number of companies on the Internet that offer different amounts, interest rates and terms. But in general you have the opportunity to borrow small to medium amounts, ie from approx. USD 5,000 up to USD 500,000. So you have the opportunity to cover unforeseen expenses as an extra expense, or you may have the opportunity to buy something you have long dreamed of. Most lenders allow you to choose the repayment period yourself, so you can’t set a typical period for this.

As a consumer, of course, you pay a price for not requiring security. That price is paid in the form of a fairly high interest rate compared to other loan types. The effective interest rate is usually around 7% per annum with the cheapest, and can reach as high as 30-40% in some. Of course, this is something to consider, and we will explain more about the effective interest rate later in this article.

How do you apply for the best loan in 2019?

How do you apply for the best loan in 2019?

As I said, in 2019 there are an incredible number of lenders online. This is of course an advantage, because you have a large selection to choose from. But it is also something that can make it difficult to get an overview, and many do not know where to start. Here we give you 3 good tips, which we believe can help you find the best loan online.

  1. Apply at several companies

In Norway, there is a legal requirement that there should be examples of all loan offers. It makes it easier for you as a consumer to find out what is really offered.

But the way to the cheapest and best loan is to get more offers from different companies. One can never quite know in advance what offer they can give you, so it is a good idea to bring in many offers. Submitting an application is always free and without obligation and therefore you risk or lose nothing by obtaining offers. Conversely, you get a better basis for comparing different offers and choosing them, which is just right for you.

  1. Compare effective interest rates

Once you bring in your different offers, it’s time to compare them. And how do you do that? A good idea is to look at the effective interest rate and compare it with the different lenders. The effective interest rate shows you the actual cost, because it takes into account all fees. In short, it is the annual interest rate plus all other fees and charges. This is therefore the best way to compare two loans and you can easily see which one is the cheapest for you.

  1. Choose a monthly price you can pay

Want to risk is that you cannot repay the loan

Want to risk is that you cannot repay the loan

The last thing you want to risk is that you cannot repay the loan. Therefore, it is important that you never choose a monthly benefit that is greater than what you have available. Sit down and get an overview of how much you have the opportunity to pay. This way you risk not getting into situations where you are suddenly unable to pay the monthly price.

We hope that this has given you a better insight into what to think about when finding a loan online. Now you can compare different offers here on the site and search for exactly the company that can give you the best deals.

Note that you cannot be sure of finding the best loan on the site, as there may be other cheaper online loan options.

Best consumer loans – The best consumer loans without collateral 2019

If you are looking for a small or medium-sized loan, then consumer loans may be the right solution for you. Here we help you find out what to look for with the different companies.

In this way, we hope to give you a better starting point for choosing the loan that suits you best. See overview with the best consumer loans.

What are the advantages and disadvantages of consumer loans?

What are the advantages and disadvantages of consumer loans?

A good way to get an overview of what a consumer loan really is is by looking at the advantages and disadvantages. Of course, as with all other things, there are both. But if you are smart and think carefully, you will largely avoid the disadvantages that exist.

Benefits

  • You don’t need security. For most, this is perhaps the biggest advantage. It gives a safe feeling that you do not have to provide collateral in your assets, as you do with other loan types.
  • High flexibility. There is no one here to know what to spend your money on. In addition, you have the freedom to (to a large extent) choose the amount and repayment time to suit your needs.
  • Get requirements. It is quite easy to get approved for a consumer loan, if only you meet the basic requirements. This may include age and citizenship requirements, as well as no payment notes on you.
  • Little preparation. Applying for a consumer loan is very easy, as it requires so little documentation. Mostly it is managed online through a form. It gives you a simple application process.
  • Quick reply and money in the account. You will often receive answers within a short time when you submit your application online. Of course, this varies between lenders, but generally there is a very fast response time and payout time.

Disadvantages

  • High interest rates. Since you do not provide collateral, the operators have a greater risk associated with the loan. This means that the interest rate will be a bit higher than for other types. It is important to investigate, where you get the lowest effective interest rate. Because it is this one that shows what the cost of the loan really is in the year.
  • The credit rating can affect interest rates. Before you can be approved, the company must make a credit assessment. Here you get a credit score, depending on how good your finances are. If this credit rating is low, it may mean that the lender offers you a higher interest rate. For example, it is always important to obtain a non-binding offer so that you can see exactly what terms they can offer you.

How to apply for a consumer loan without a security

How to apply for a consumer loan without a security

It is important to remember that it is always free to collect offers from the company. By law, there should be an example of any loan on the company’s website. But it is important that you bring in a non-binding offer so you can see exactly what loan you can get. This makes it easier for you to compare, where you get the best terms.

Once you have collected offers from a variety of different types, look at the effective interest rate. This is the annual interest rate on the loan, plus all other costs and fees, which may be involved. It is this one that gives you the best picture of what the loan will actually cost you. Therefore, the effective interest rate should play a relatively large role in your decision on which company you choose.

Today, the application process is very simple and fast. Everything is done online, and for most people just fill out a form with basic information. Keep in mind that it is a completely free application with no obligations, so you can collect offers from as many as you want!

Once you have found the loan agreement that you are happy with and that meets your needs, then just sign it. You can easily do this again online with Bank, so this process is also very easy. Then just wait for the payment, which usually comes no later than the day after the loan has been approved.

Now, hopefully, you have gained a little more knowledge and information in the area, so you can better make a qualified choice. See the different companies in our overview and start looking for the best consumer loan online.

Note that you cannot be sure of finding the best loan on the site, as there may be other cheaper online loan options.