What you know about direct student loans?

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What you know about direct student loans?

In September 2009 the country launched a new experiment, according to which preferential education loans for students will be issued before the end of 2013.

Under the terms of the new project, the student (or applicant) fails to pay principal on the loan during the entire period of their training, plus three subsequent months. With regard to interest, then during the first year borrower pays only 40% of the loan rates, and in the second year – 60% of the stake.

The time for a full refund of the credit for the students is 10 years after the student completes a college education. Potential borrower no longer need to provide a guarantee or some other software, and in case of redemption before the term is no penalty for such clients are not provided.

Under the new rules, present and future students can receive educational loan under the guarantee of the state. The state pays ¾ refinancing, and students – not more than ¼ of the rate increase of 3 percent.

Student loans are issued to citizens of Russia who are in the age range from 14 to 18 years or age of majority students. Such students must sign a contract with the bank for educational loan and meet accepted by the Russian government criteria for academic achievement. In addition, loans made taking into account the quality of education received by students as well as the demand for relevant professionals in the labor market in Russia. Best of all – read about direct student loans!

The list of schools participating in the experiment, determined each year by the Russian Ministry. For example, in 2009 – 2010 years of the project involved 56 accredited universities, both public and private.

The main participants of the experiment are banks such as Bank Soyuz and Sberbank. The new project bank reimbursed the amount of bad loans in the education of up to 20% (the percentage is of total loans). In addition, during the entire period of use, the government subsidizes banks falling revenues in the amount of refinancing ¾ (we take the bet on the date of the educational loan).

I must say that borrowers who received loans for students previously in the framework of the “Credo”, if desired, be entitled to participate in the new experiment.