Acquiring higher education in our country and abroad is a serious and long process involving many costs that need to be available. One way to ensure them is to withdraw student credit. Two groups of student credits are divided into Bulgaria.
The first ones are granted by banks that have signed a contract with the Ministry of Education and Science – where the state is a guarantor, so the conditions and requirements are unified, they are regulated by the Law on Student and PhD Students Crediting. The second group is student loans granted by banks where the conditions are dictated by their bank policy, they are products of the bank itself and are independent.
We will introduce you to student credit conditions in both cases to get a true idea and think about where to get credit.
- The loan is guaranteed by the state, it sets conditions, state borders for the amount of principal and interest. No additional collateral is required.
- Purpose: Student loan , postgraduate loans for full-time, bachelor, master or doctoral degree.
- Tuition fees and / or subsistence allowances are payable. You use it for the whole or part of the training period.
- You can request online consumer credit . You can apply for one or both types of credits.
- The interest is charged only for the absorbed portion of the loan. Fixed annual interest rate. Lower when using DSK Academies package.
- There are no fees, commissions and other expenses related to the granting, management and repayment of the loan.
- There is a grace period for repayment of principal and interest.
- Conditions and requirements for granting: Bulgarian citizens or citizens of another EU Member State, another country of the European Economic Area or the Swiss Confederation have not reached the age of 35 at the date of the application for the loan, are trained in a regular form for acquisition of a bachelor, master or doctor in a state or private educational establishment or scientific organization established or operating under the law, have not acquired the same educational or scientific have not been removed and have not interrupted their studies, except in cases specifically mentioned by the Law on Student and PhD Student Affairs.
- Amount of credit for the payment of training fees: the fees due for the remaining period of study, according to the curriculum for the relevant specialty or degree. Assimilated by bank transfers to a higher education institution or a scientific organization.
- Maintenance credit: Provided only during childbirth or adoption of a child during training. The credit can only be used by the parent who exercises parental rights if both parents are only one parent. The amount is formed as a sum of the semesters for a period equal to the remaining period of the borrower’s training, according to the curriculum for the respective specialty or degree. The subsistence allowance is equal to the minimum wage for the country at the time of the specific bank transfer, multiplied by the number of months in the respective semester. It is absorbed by transfers to the student / postgraduate student’s current account at DSK Bank at the beginning of each semester under the credit agreement.
- Grace period for repayment of principal and interest – the period from the conclusion of the credit agreement to the expiry of one year from the first date of the last state examination or the defense of the diploma thesis, from the doctoral studies according to the curriculum. During this period, the student / doctoral student does not pay principal and interest. The interest accrued on the absorbed portion of the loan during the grace period is capitalized annually.
- Term for repayment – up to 10 years after expiration of the grace period. Repayment – credit in equal monthly installments.
Under similar conditions, with state financial support, they grant student credits – First Investment Bank, Raiffeisenbank, Postbank and others.
2. UNICREDIT BULBANK
- Currency: BGN or EUR, loan amount up to 50000 BGN / 25 000 EUR /.
- Designed for Bulgarian students, students in Bulgaria or abroad. For training / semester fees and maintenance /, medical specialty acquisition, student brigades.
- Application conditions: Being students in accredited universities and colleges in Bulgaria or abroad (EU, Switzerland, Norway, Australia, Canada and USA).
- Required documents: ID card and university document for semester written and medium success.
- Simplified application procedure / online, credit on the phone or in a convenient bank branch /, quick answer.
- Choice between floating rate or floating rate / reference interest rate and margin.
- There are no hidden fees and commissions.
- Collateral: 1 guarantor required.
- You can spend on tranches to pay the semester fees or once.
- Opportunity for a grace period of principal.
- Repayment term – 3 to 120 months.
3. CENTRAL COOPERATIVE BANK
- Conditions of Grant: Being in full-time, part-time or distance form at a state or private higher education institution, be up to 35 years old at the time of applying for the loan. If you want to invest in your education, go to an internship or student brigade abroad.
- Currency: BGN, EUR or USD, loan amount up to BGN 20000 , participation in a cultural exchange program, internship or student brigade abroad – up to BGN 5 000.
- Collateral: up to 10 000 BGN – 1 guarantor, from 10 001 to 20 000 BGN – 2 guarantors.
- Interest rates: Standard interest rate, regardless of the currency of the loan, if the guarantor receives income at the bank – a preferential interest rate. Discounts on interest in using additional banking services.
- There is a fee for reviewing the credit application.
- You are entitled to a grace period for the duration of your studies. Then you only pay monthly accrued interest. The grace period for financing an internship program abroad is up to 12 months, with a credit for taking part in a student brigade abroad – up to 7 months.
- Term of repayment – up to 5 years after expiration of the grace period.
- Conditions for granting: for all Bulgarian students trained in the country or abroad regardless of the form and degree of education: Bachelor, Master, Doctor.
- To finance training, semester fees, various expenses related to education, rentals, air tickets, for study abroad, for student brigades, daily expenses, trips and others.
- Currency – BGN or EUR, amounting from 500 to 15 000 BGN.
- Repayment term up to 96 months with a partial grace period included.
- Guarantees: guarantee from parents and relatives or transfer of salary / remuneration to the student at the bank.
- Fixed interest rate for the entire duration of the loan.
- There is a credit approval fee.
- Repayment method – equal monthly installments with the option of paying only interest during the period of study.