Student Credit: Learn How To Fund Your Education

For students considering going back to school or even for students who want to progress in their course but do not have the financial capacity to do so, student credit is a financial product to consider. It can be a help when it comes to funding your education and expanding your knowledge.

Unfortunately, not all Portuguese have easy access to education due to lack of monetary possessions to pay university fees, materials and textbooks. All these elements increase in value as you move from secondary to tertiary education.

Whether for a degree, for those who already work and want to do a postgraduate or master’s degree, or even for those who want to acquire new knowledge, student credit can be a solution.


Factors To Consider In A Student Credit

Factors To Consider In A Student Credit

When considering applying for a personal credit directed towards education or training, it is important to consider some factors. Firstly, you should choose the desired course and get in touch with the higher education institution concerned, universities often have funding partnerships with certain financial institutions.

Afterwards, you should also do a market analysis (yes, even if the university has its own funding) to choose the best student credit for you.

Lastly, read through all the available information about the student loan options presented. There are various interest rates and repayment terms suited to each borrower’s financial standing. Please also note that your effort rate should not exceed 33% to avoid default.


What are the advantages of a student credit?

student credit?

This type of loan has very targeted benefits for students, namely:

  • Lower interest rates compared to other specialized loans;
  • It is not possible to pay any monthly installments during the studies, starting to repay the loan after the end of the course (with the possibility of having a grace period that varies depending on the loan in question);
  • In some cases, interest rates may drop if the student has very good grades – this is a way of rewarding success;
  • Depending on the type of course, the student may choose from various forms of payment: monthly, quarterly or even funding settlement at the end of the course.

It all depends on the student credit you opt for. You should, however, pay attention to the special conditions of the offers. For example, some of the bonuses (such as reduced interest rates or certain payment methods) may only be available when the customer subscribes to an associated student account or a credit card targeted at higher education students.


What are the requirements for applying for this type of financing?

applying for this type of financing?

Although the requirements and documentation required vary by financial institution, these are generally required across:

  • Be of legal age;
  • Be enrolled in a university or polytechnic, public or private, national or international;
  • Study programs such as Erasmus abroad may also be considered for student credit;
  • Not blacklisted by Banco de Portugal;
  • If student credit has the possibility of reducing interest rates according to the student’s grades, proof of these results is required.


Which institutions offer student credit?

student credit?

The offer is quite diverse, it all depends on the bank chosen, the amount of financing and the client’s characteristics.

For example, Margarita and Richard have a combined income of $ 3,000 and Margarita wants to do an Executive Master in order to make her career progress. This course will cost 10,000 dollars and the couple would rather have a longer payment term.

The Agricultural Credit, for example, provides, for this amount of funding, paying in 36 months, a monthly installment of 299 dollars. This offer has an APR of 4.9% and a capital shortage ranging from 6 to 42 months depending on the type of course. Finally, the loan also includes teaching materials, living and food expenses, if the client goes to study outside his / her residence area.

Another institution that provides student credit is ABC Bank. For the same amount of funding and with the same repayment period, this financial institution offers a 5% APR and a similar installment (299 dollars).

In addition, this bank offers exemption from the payment of early amortization commissions (total or partial) of the outstanding amount and includes life insurance with coverage of 100% of the financed capital and credit protection insurance.

Credit to study: what is the offer?

Have you considered going back to school, but you can’t afford the costs associated with this activity? Whether for a degree, a master’s degree or other training, there is a wide offer of credit to study at various financial institutions.

In this article we present the offer of personal credit for teaching purposes in Portugal, in 2019, in order to facilitate your choice and fulfill your dream of returning to university.


What are the advantages of a credit to study?

credit study

The credit to study has a panoply of benefits that are worth knowing. Firstly, the fact that it has more competitive interest rates compared to traditional consumer credit stands out, which makes the total loan cost (MTIC) lower, allowing consumers to pay a lower monthly installment.

Depending on the offer of each financial institution, it is possible to have access to a grace period of capital, ie you can choose to pay lower monthly payments for a certain period of time during which you will only pay interest. However, choosing a grace period implies that after these months the consumer will have to pay a significantly higher monthly fee.

Other banks allow study credit to only begin to be amortized upon completion of the course, allowing students greater financial flexibility during their studies.

In addition, this type of financing covers very flexible repayment terms, usually up to 10 years. Also the amounts of credit to study are for all consumer needs, ranging from one thousand dollars to 75 thousand dollars, according to the financial institution.


What is required to apply for this type of loan?

apply loan

In order for the customer to be able to see his credit for studying approved, he must meet a set of requirements required by banks, namely:

  • Be of legal age;
  • Submit a declaration of enrollment in a Polytechnic Institute or University, may be in Portugal or abroad;
  • Not having your name on the Rose Bank Black List.

However, some extra documents may be required in specific situations: for example, in order to be able to access an interest rate subsidy (APR) due to good academic performance, financial institutions ask for proof of student grades.


What credit study solutions are there?

credit study

Take Phillipp, a computer engineer with a net monthly income of $ 1,200, who wants to pursue a master’s degree in management to achieve the desired position in an IT consultant.

He will need 15,000 dollars to pay for the course, which costs 7,000 dollars, and to cover other expenses, such as accommodation and school supplies.

In this sense, Phillipp chose to compare the credit market solutions to study, defining the payment term in 60 months. Realized, however, that not many financial institutions offer this type of financing.

We looked at four financial institutions that offer study credit and allow you to perform online simulation on their websites.

Among the offers presented is General Deposit Box with the product Accreditation, which, in addition to being the option with a lower monthly fee and lower total cost of credit, provides a shortage capital during the course attendance and up to one year. year after its completion.

The Agricultural Credit Bank Education option has a very competitive Annual Effective Annual Rate (APR) and provides a funding amount of up to 50 thousand dollars in Portugal and Erasmus and up to 60 thousand dollars abroad.

As for Corfidis Formation credit, despite having a slightly higher APR than the previous options, it is exempt from opening commission and has no penalty for early repayment.

Lastly, Sanbuwan’s offer, Formation Credit, is the least competitive with an APR of 11%, however it offers the possibility of capital shortage up to four years.

In this analysis of the various solutions, it is important to pay attention not only to the interest rate, but also to the flexibility granted by each institution regarding, for example, spread subsidies, in order to minimize the final cost of credit. .

In addition, students should also look for other available options, such as grants from the state or private institutions.

7 Tips for Managing Credit Card Debt

There are several types of credit cards that provide various benefits and advantages. From airline miles to cashback, there is a wide range from which you can choose according to your preferences and lifestyle. However, are you afraid of not being able to manage credit card debt? In this article we give you tips for managing this and getting the most out of this product.

Credit cards can be very useful in everyday life, but you must use them cautiously to prevent a product that can be your ally from becoming the villain. Get to know our seven tips for managing credit card debt.


1. Reassess your monthly expenses

credit card debt

Review what expenses you are having and what may be unnecessary and make a monthly payment plan.

For example: Do you have gym membership but enjoy very little? You may be able to unsubscribe and save on this expense. Or do you have two streaming service subscriptions, but only use one? You can cancel one of these and stick with only what you use best and meets your needs. If you’re undecided, be sure to compare all streaming offers on the market.

Make sure you set aside enough to pay off your credit card debt at the end of the month.


2. Record every move you make with the card

credit cards

Knowing exactly what your spending is the key to managing credit card debt. This way you always know what amount of the ceiling you have already used that month to make sure you don’t exceed it and avoid surprises when payday arrives.


3. Have only one card

credit cards

If you are having difficulty managing credit card debt, acquiring another one in the hope of having more room to spend is not the best solution. Focus on settling your card debt before thinking about getting another one.


4. Know the Refund Modes

credit loan

There are several credit card repayment arrangements. Most cards allow you to make fractional payments, so if you do not have money available in your account to pay it in full, you can do so in monthly installments ranging from six to 48 months, depending on the amount and the bank.

It is important to keep in mind that if you choose to repay the installment debt, it is accrued with interest in a percentage that varies according to the agreed repayment modality and which is called the APR (Global Effective Annual Rate).

You can get payment information about your card from your issuing financial institution and thus manage your credit card debt better.


5. Deal with the bank


If you have always been an exemplary customer and have a good relationship with the bank, you can negotiate the interest rate with the institution and reduce it to pay lower amounts on your installments.


6. Consolidate Credits to Manage Credit Card Debt

Manage Credit Card Debt

If you are having difficulty managing credit card debt and other benefits that you are not able to meet either, consider credit consolidation. By consolidating all the installments into one, you can save on interest and unburden your effort rate so you have more room to settle your credit card.


7. Note other associated costs

credit debt

Apart from interest rates, there are other costs associated with using this product which is important to keep in mind to manage credit card debt.

Charges such as annuity, late payment interest, cash advance commissions or costs of payments made abroad should also be taken into account when drawing up your card payment plan.

Please refer to your bank’s Pricing and Expense Brochure, usually available on your bank’s website, for all charges associated with your card.

The purpose of using a credit card is to make your day to day easier and provide you with a wide range of benefits and discounts. However, with less caution you may incur large debts.

The principle should always be to prevent such a situation. However, in a more problematic case, be aware that there are debt support programs, such as the Extrajudicial Settlement Procedure (PERSI) or Questsave Bank’s Debt Customer Support Network (RACE) that helps to regulate the debt.

Building Loans

The other option is construction loans. You can see this as a form of cash credit. Here you only pay interest on the part of the loan that is actually used. The interest rate is variable and when the construction is completed, the final financing takes place.

The downside is that here you have to pay double on registration and loan fees. In addition, you do not know the final cost of the loan, as the interest rate here is fluctuating.

The advantage is that it can be customized and that you do not borrow more than you need.


Alternatives to Medium Financing

  • Collateral

If you have multiple loans in the home, collecting these loans can be an advantage for you. That way you can get a larger amount of money available, and that way you can afford to take out a loan if needed for the new renovation. Read more about collateral loans.

  • Equity

If you have a high home value, you can take advantage of this and replace home loans or other bank loans with a higher interest rate, with a mortgage that has lower costs.


More options for renovation loans

More options for renovation loans

If you do not have a home value in your home because you, for example. lives in a rental home and needs a loan for renovation. Then you can consider a private loan. 
Here you do not have the opportunity to borrow more than millions, but it is possible to borrow up to DKK 250,000.

If you live for rent, keep in mind that a loan for a renovation will not affect the value of your home. Therefore, it may be more appropriate to upgrade something in the home if you live in a condominium or owner-occupied home.

For example, if must sell your home 1-2 years after you renovate your kitchen and the kitchen cost $ 35,000, this money will be included in the full amount you get when you sell. Subject to what the housing market looks like at the given time, as inflation has a lot to say.

At Redhat Loans you can compare different private loans and find the one that suits you best. Here, you can choose installment-free months at some banks, so you can for example. can afford children’s birthday presents.

One thing to keep in mind when taking out consumer loans is OPP. 
The OPP is responsible for annual costs as a percentage. This is a good indicator of whether it is worth paying the loan or not.


Approval of renovation loans


The bank needs some different information about the redevelopment in order to assess the maximum mortgage / bank loan you can get. There are things like:

  • Offer from contractor / artisan
  • Description of the project
  • Timeline of the project
  • Expected costs 

Tips for not falling into debt with a personal payday loan

personal payday loans have increased in the last year, but so did the amount of indebted Peruvians. This happens because, having financial obligations, it is easy to fall into debt if care is not taken or certain aspects are taken into account. See for details

If you are looking for a personal payday loan, falling behind is the last thing you will want and to achieve it, you can take note of the following tips:

If your budget undergoes changes, discuss it with your bank

If your budget undergoes changes, discuss it with your bank

Circumstances may vary over time, an emergency situation, a dismissal or even an illness may affect your finances, but the first sighting that it will be difficult to meet the loan payment, it is best to contact the financial institution and make the advisor know that you are going through difficulties. This way, they can show you the different options.

Do not apply for another loan until you have finished paying the current one

Do not apply for another loan until you have finished paying the current one

Focus on one debt at a time, that is, do not exceed your entire borrowing capacity by requesting another loan while you have not yet canceled the one you have.

You should consider the same for the use of your credit cards, since if you use them more than you should, the monthly payment will increase and it could make it difficult for you to meet the loan.

That payment of fees becomes a priority

That payment of fees becomes a priority

You need to be clear that the commitment to repay the loan is a priority, and put it before other expenses such as additional purchases, trips, departments, among others.

It is possible to make the necessary cuts without having to sacrifice all your tastes, the important thing is to have a good budget and organization.

Remember that paying attention in the choice of loan is vital to avoiding paying more money in interest. Compare the interest rates and conditions of the different entities.

Borrow easily and quickly 5000 – 150 000 – Quick Loans

Taking a loan does not have to be time-consuming or complicated – today you no longer have to go to the bank or fill out many forms to get the loan. If you need to borrow money, you can turn not only to classic large banks, but also to many different smaller non-banking companies that often focus on micro-loans. These are then ideal, for example, in a situation where you are without money, and you only miss a few days to pay. But how do you choose the most appropriate lender so that we don’t get the money and jump to the scam?


Loan before paying everyone 5000

Loan before paying everyone 5000

The most popular types of loans in recent years include fast short-term non-bank loans, which are usually due within one month. So if you have only a week to pay and you find yourself without a single crown, you can contact one of the providers of micro-loans. However, to make sure that it is not fraudulent and you really get your money, we recommend that you use the services of one of the professional loan comparison portals. One of them is Love Lender, where you can compare offers of almost 70 different banking and non-banking companies.


Loan 2000 to everyone immediately

Loan 2000 to everyone immediately

The advantage of smaller non-bank providers is that they also lend very low amounts to banks. You can borrow even a few hundred or a thousand and of course the fee for such a loan will not be too high. Some companies even offer the first free loan, so you don’t even pay a crown. If you are interested in such a loan, the Love Lender website will be your ideal assistant, where you will find a complete overview of these loans together with independent reviews.


Good Lender Review

Good Lender Review

Not everyone but just a small loan up to 5 000 CZK. If you need to borrow a higher amount, you might be interested in the Good Lender offer from TED Money. It already provides higher loans from 5 000 CZK to 50 000 CZK. The maturity period in this case is 8 to 13 months and one of the advantages is that you do not have to go anywhere – the money will bring you a sales representative of the company, which if you will be paid in cash on hand. Good Lenders are suitable not only for employees or entrepreneurs, but also for mothers on maternity leave, pensioners and people with a record in the register of debtors. 

Online banking is cheap and easy

The turbulent years that we Dutch have baptized the crisis have not ignored a group like XYZ bank. Just like almost all other major banks, these years have also had an impact on the staff, products and services of this bank. If you are in the corner where the blows fall, you have two options. The first is to push you further in the corner and to appropriate the victim role. The second option is to take the blows that you receive, learn from a number of things and come out stronger. Online banking at XYZ is a good example of this, it is one of the most comprehensive forms of online banking.

Online banking

Online banking

Fortunately, XYZ has opted for option 2 and is today a modern bank that is completely geared to the future. XYZ and online banking belong more together than ever before. Online banking is the future and XYZ has understood this well. The bank has made online banking very accessible and well-arranged for all its customers.

The possibilities


You can access XYZ’s online banking by logging in via “my XYZ”. For this you need a username and password. After completing this you will end up in your own “online banking environment”. The screens are clear and well-structured, making it easy to do what you want to do. There are a good number of banking matters that you can do yourself. You can think of:

1. Make payments
2. Open payment and savings accounts
3. Re-applying for bank cards, credit cards and pin codes
4. Apply for a credit facility on your checking account
5. Transfer amounts that are automatically debited from your account
6. Take out insurance and manage it

But it goes further


But XYZ and online banking go further than just banking via PC or laptop. A little bank nowadays also has an app. You can also arrange many things yourself via the XYZ app. At the moment there are still a number of things that you can arrange via laptop or PC, but not yet via the app. Naturally, XYZ is working hard to make as many services as possible available via the app.

Future expectation

Future expectation

The future expectation with regard to XYZ and online banking is that more and more complex services and products are being released to be able to arrange themselves. Investment products and mortgage products are examples of this and it seems only a matter of time before these products can be arranged and concluded entirely online.

It looks good

In conclusion, the conclusion is justified that XYZ has embraced the future. Yet XYZ does not lose sight of its customers who are less future-proof when it comes to online banking. Especially for this group of people, workshops are given in online banking. For example, online banking at XYZ is available and accessible to everyone.

What about interest development?

Some people avoid them, others devour them from start to finish: the financial section of the newspaper. It can be valuable to follow developments in the money market for various reasons. For example for people who invest or borrow money. Some financial knowledge can prevent you from being faced with unpleasant surprises. For example, how is the interest on a loan determined?

Borrow money? Interest and market interest

Borrow money? Interest and market interest

The interest rate of a loan consists of a basic payment and a surcharge. The basic fee is the interest that a bank or lender pays for the money borrowed and is determined based on the market interest rate. The more demand for borrowing money, the higher the market interest rate. Do fewer people want to borrow money? Then the market interest rate falls. Subsequently, the interest rate that you pay for your loan with the market interest rate rises or falls.

Interest = basic allowance + storage

The storage part of the interest you pay for your loan is a combination of the following factors:

  • Your loan amount: the more you borrow, the lower your interest.
  • Debtor risk: the bank always takes into account the risk that the borrower will not repay the loan. The higher the risk, the higher the interest rate will be.
  • The term of your loan: a loan with a long fixed-rate period is more expensive than a loan with a short fixed-rate term.
  • Any collateral: as the owner of a owner-occupied home you can often borrow money at a lower interest rate.
  • Costs: the costs incurred by a bank or lender are charged on in the interest rate. Think of marketing, personnel and office costs.

Money market interest and capital market interest

Money market interest and capital market interest

To make an estimate of the interest rate development of your loan, it is good to keep an eye on the money and capital market rates. The money market interest rate is the short-term interest rate with a term of less than two years. This interest is influenced by the rates at which a large number of European banks lend each other money. Loans with a fixed-rate period of more than two years often follow the capital market interest rate. The basis for this interest is the government loans.

Interest rate revolving credit

Interest rate revolving credit

Certainly when you have a revolving credit or want to take out, you have to deal with the interest rate development. The interest rate of a revolving credit is variable and can therefore fluctuate. By keeping an eye on interest rate developments in the money market, you can make an indication of your future interest costs.

Borrow money with advice on interest

Borrow money with advice on interest

The credit advisors of the National Credit Checker can tell you more about interest, a revolving credit and associated interest rate developments. We like to think along with you! Request a quote immediately.


Loans for IP

All you need is an ID card – and leave the rest of your personal documents at home. A birth certificate, a school-leaving certificate, an extract from the cadastre of real estate due to a mortgage, simply none of this will be necessary, as a classical loan for an OP is characterized by an absolute minimum of bureaucratic burden. It can even be done in a matter of minutes!


Do not wait, start acting immediately

Do not wait, start acting immediately

Without waiting, without complicated administrative burdens, extensive contracts that are often written in small print and look suspicious at first sight. In short, things without which life can be easily imagined, but sometimes they simply catch up with us. In the world of non-bank lending, this is not the case, as the contract is often written on a single sheet of A4 paper. Nevertheless, it contains everything that it should contain by law.

  1. What will be needed for the loan for the data?

  2. Full date of birth.

  3. Status and place of residence.

  4. Identity card number.

  5. Name and surname.

These are the basic data without which any negotiation of the loan can be done without . It has to be stated always and everywhere for full identification of the applicant, without them the application would simply not be complete and could not be processed by law.

However, be sure that personal data – even those that are often traceable publicly – will not reach any third party and will not be misused in any way. In addition, non-banking companies have their mechanisms in place; in addition, applications are evaluated by a computer vending machine, not by a specific employee.


If you really rush for money

need money

Perhaps there is no better solution. By the way, those who care for confidentiality here will get the maximum possible. Neither sensitive personal information will be leaked, nor will you be aware of borrowing money at all. This is a problem mainly in smaller villages and small towns, less in relatively anonymous Prague. Anyway, it is better if as few people know about a loan for anything , ideally only you or the closest family circle.