What are educational credits?

19 Aug

 

They are a type of mechanisms by which students can obtain an education without having to think about the family economic situation. Regularly this type of credit is granted for higher education. These credits are to give the opportunity to young people to attend private educational institutions with great prestige.

How do these educational credits work?

How do these educational credits work?

It is well known that to have a good job requires a professional education, however in our country we have a low percentage with respect to the population that has higher education and not to mention a postgraduate degree. The main causes of this is the economic factor. So today there are endless alternatives to cover the costs involved in studying and finishing a professional or graduate career.

The educational loan offers different products in which the student obtains a complementary support to pay within a determined period after having finished his studies and is ready to obtain his own economic resources through his own work; You can even only pay the interest on the loan while you are studying.

What you should know before applying for an educational loan

What you should know before applying for an educational loan

It is an educational option that aims to partially or fully cover expenses related to the educational process. Institutions or managers use different conditions that are commonly based on contracts with clauses of many extension sheets, so that in many cases the requirements on pass the benefits at the last minute.

Within the various educational loan options that exist, apart from generating a social impact, are granted without generating commissions or interests, simple procedures are required. It has the lowest rate than the regular ones. Regularly the settlement of the credit corresponds to the same time in which the student uses it, that is to say if he studied 4 years these are the same ones that he will have to liquidate the credit.

Main characteristics of educational credits

Main characteristics of educational credits

  • The commissions: they are the payments that you must make and they are associated to the cost of the credit (that is the penalties, openings, etc.).
  • Interest rates: this is what the credit costs, this is expressed by a percentage and is established since the credit is granted. The advantage in this credit is that the rate remains frozen during the term of the loan.
  • The CAT (Total Annual Cost): this indicator is summarized in a number, the higher the CAT of a credit, the more expensive it will be.

The credit is not a scholarship

The credit is not a scholarship

Educational credits and scholarships are two totally different things. There is a type of scholarships called lost fund, where the student does not have to contribute any economic amount, so with this study for free, only with the condition of meeting requirements such as maintaining an average of excellence and getting involved in school activities And the educational credit refers to what we already mentioned, only that this loan can be granted by the same educational institution.

What are educational credits?

What are educational credits?

Educational credits are the best solution for students not abandoning their studies or their professional goals. The educational credits are Uncle Toms that are granted to those who are looking for resources to continue their education and after finishing their degree or undergraduate the student agrees to pay it with their due interest. Nowadays you have the opportunity to acquire an educational credit, which will allow you to continue studying if you do not have the necessary resources since you can find support for school supplies, for tickets and even to pay tuition and materials.

Educational loans – Educational credit in Mexico

Educational loans - Educational credit in Mexico

With the national educational credit you can finance any expense related to your education, and it is granted to any student and any higher level institution in Mexico. Some banks or institutions have alliances with the main universities of the country such as:

Educational credits – Educational credit abroad

Educational credits - Educational credit abroad

Many banks and financial institutions undertake to finance a degree abroad. You can finance from your plane ticket, travel expenses and all the cost the cost that your career lasts. This type of international university credits also has international alliances in universities such as:

Educational credits – Benefits of educational credit

Educational credits - Benefits of educational credit

  • Some credits can be paid up to 15 and a half years with an annual interest rate of 10%.
  • It allows a more equal education
  • College credit does not ask for a guarantee
  • The average rating is 8
  • The average credit is 110,000.00 pesos

Educational credits – What problems do you not pay an educational loan?

Educational credits - What problems do you not pay an educational loan?

  • Once a payment has been omitted, your loan automatically goes into default.
  • The delinquency continues until the day you get current with your payments
  • Negative credit ratings hinder subsequent loans
  • If you appear as delinquent debtor it will be very difficult to buy a car or a house.
  • The interest rate grows more when you start being delinquent
  • You may have problems when purchasing a public service
  • Difficulty in obtaining housing insurance
  • Until a telephony plan can be impossible
  • Sometimes to rent an apartment you need to consult that the tenant is not delinquent.

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