The Diploma about the finished higher education opens to young people the opportunities to build a career. Most Russians since the Soviet era believe that a higher education — the key to well-being and prosperity. However, in modern Russia to do in high school not everyone can. Funded places for everyone is extremely lacking, and tuition for most applicants. In this situation, financial institutions are ready to help entrants or already enrolled students by providing education loan. Sberbank, whose program will be discussed, also works in the service sector.
In the West the practice of student support is open for a long time and is popular with young people. More than half a century there are various loan programs of students, including foreigners, some of which may include, in addition to tuition, small stipends for the duration of the training. Most lending programs abroad enjoy state support in case of need. Thus, more than a quarter of all foreign students studying in debt.
In General, the concept of education loan — is the target consumer a loan with a special repayment schedule. The loan term depends on the training period and exceeds it for 5 years. At the time of study provided for postponement of payment of the loan and sometimes the interest on it. The interest rate on such loans is usually lower than the average rate on consumer loans. Borrower of such a loan can be had for the 14 years, which is a feature of the services. The Bank will require additional guarantees like collateral or a guarantee of third parties, as well as written permission from their parents. The loan can be obtained for the whole period of training under the contract with the school, and may be differentiated according to the payment schedule, that is, the Bank transfers funds to the educational institutions of parts for every year or semester of education. The second option is preferable, since interest is charged not on the entire amount immediately, in the event of premature termination of the training, the borrower will not have to pay the full original value of the loans, but only a part, according to the allocation at the initial rate. It must be reflected in the contract. The Bank may require additional substantiation of successful training - certificate of successful completion of the semester and no debt. Often in the contract with the Bank prescribes the possibility of obtaining an academic leave to students and, accordingly, the postponement of the loan and recalculate the interest on the loan.
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In the Russian market of financial services among the educational loans differ program one of the leaders in the banking sector at PJSC “Sberbank of Russia». Given the government support programs student loan certain professions among the banks that provide education loan, the Sberbank provides the best conditions. Lending rate is 13.9 percent, which is in comparison with other programs of consumer crediting one of the lowest. The loan is issued in rubles for a period exceeding the period of education of 10 years. Sberbank is ready to pay the full tuition or remaining to pay for the part, regardless of the client's income. There is “soften” the interest payments for the first and second years of the loan, the primary debt to be paid after 3 months from the date of graduation, regardless of successful completion of the diploma. That is, even falling ahead of schedule having completed the course, the client has time to find an additional source of income to repay the amount issued in the loan for education. Sberbank thus divide mortgage payments into 2 periods: the first period is the whole period of suspension of payments (duration 3 months) and provides for the payment only of interest on the loan, and the first and second years payments make 40 and 60 %, respectively; the second period involves the payment of the loan together with the incident percentage equal (annuity) payments.
Credit may be granted as a one-time transfer of funds to the school, and parts credit lines, according to the contract. In the second case may be required to provide documents confirming the successful completion of stages of learning, and additional signing annexes to the agreement with the Bank Sberbank. Education loan, the terms of which do not provide for any Commission, no insurance, secured by a pledge or surety of third parties only in the case of a large amount of the loan. Failure to comply with payment terms for the remaining debt on the loan is charged a penalty rate of 20% per annum.
The Borrower's educational credit Bank JSC «Sberbank» can beanyone a student of the educational institution, i.e. the Bank requires confirmation of enrollment of the applicant in the school on a paid basis, in order to issue the target credit for education for students. Sberbank lends to not only the students of higher educational institutions, the loan can be taken on any paid training in educational institutions having the appropriate accreditation for the educational activity. Students of evening and correspondence courses also have the opportunity to use the lending, on a par with the students of the day division. The age of the borrower should not be below 14 years of age, for juvenile clients will require additional written consent from the legal representatives, as well as the permission of bodies of guardianship and guardianship for the right to use the loan for education. Sberbank eliminates the maintenance of persons in custody, according to the Federal law “On guardianship and custody”.
The Ministry of education for several years been experimenting with programs to support students. Loans with the support you can get training in more than one hundred universities, a variety of specialties. Signed agreements with several banks, including Bank savings, loans for education which are considered in the article. An attractive feature of the loans with the state support is reduced interest rate under the refinancing rate of the Central Bank of Russia and an additional 5 points. For example, the student loan program of PJSC “Sberbank of Russia» the state will assume the obligation of payment of one half (7.5 per cent) rate on the loan. The borrower will be required to pay only the remaining 7.5% of the betting Bank Sberbank. Education loan on such terms correspond to foreign analogs.
The General attitude to PJSC “Sberbank of Russia» for more than one hundred and fifty years, customers have developed fairly positive. No exception and the program provides students education loan for students. Sberbank, which emphasize one of the lowest rates of lending in Russia, provides educational opportunities for the poor, as well as regardless of the help of relatives, on their own to obtain the necessary education for adult employed borrowers. Payment at the beginning of use is not too high, they disziplinarrat of the borrower and is preparing to implement the core obligations on the loan in the second period of maturity, when along with the interest needs to be paid and the loan amount.
Of the negative reviews prevail mainly to the quality of work in individual departments of the Bank, mainly related to insufficient professional staff, providing education loan in the savings Bank. Reviews often say that the student lending and government support of such programs is a fairly new area of services not only for consumers but also for the banks themselves, it is natural, therefore, there are some problems with the Bank's specialists, which is easier to write a standard consumer loan, rather than go into details of specialized programs. Several reviews highlight the failure of terms of consideration of documents, indeed, in some regional offices of the Bank, which again confirms the lack of staff awareness or deliberate unwillingness to work with the new service, providing education loan for students. Sberbank, which has interested us, for solving problems with registration and to avoid delays in the process of issuance of loans and penalties from the institution for the delay of payment is strongly advised to refer to senior management or the hotline for customer support, since the difference between the ordinary consumer loan and target loan for education is quite appreciable.
Interesting feedback left by users who have already obtained a Bank loan from Sberbank to education with state subsidies during the crisis in the economy. Few months these students were trained under pain of immediate expulsion from educational institutions, because the banks did not have funds to provide for credit obligations. Part of the obligations of the banks temporarily unable to afford to take on the universities themselves. In the end, the situation with the students caught in this difficult situation was resolved positively, the educational institution has fully complied with the stated in the contract educational services despite shortages of payment.
Pretty young yet lending program, students in Russia can have a good development, drawing on the experience of foreign systems of student support. Analysts see a good future for these types of loans, which, coupled with a stable economy and government support can give the country a lot and trainedindependent specialists. Given the demographic trend caused by including the state policy of supporting the birth rate of recent decades, the future of educational loans is not far off. Sberbank as a participant of the state program of support of students and as an independent lender for standard credit terms at the moment is the best partner for most people wishing to obtain higher or professional education loan.
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Alin Trodden - author of the article, editor
"Hi, I'm Alin Trodden. I write texts, read books, and look for impressions. And I'm not bad at telling you about it. I am always happy to participate in interesting projects."
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