Mixed feelings are associated with the credit after graduation. You want to use the money to implement an important project, but doubts are understandable.
Tormenting questions about financial viability, a bank will grant a loan even though student loans are still running. Or – does it make sense to go into debt before the existing student loans are finally paid off?
With our small guide on loan issues after your studies, we would like to accompany you in your decision-making. Find out when a loan is granted, how existing Cream Bank debts impact, what alternatives are available when financing problems arise.
Financing requests after the regular degree are divided into two groups of needs.
Public promotional loans are again available for funding for almost every form of advanced scientific training. Former students are looking for the credit after graduation to join postgraduate studies or to do a doctorate. In this case, German Company are the first point of contact to explore possible types of funding. Local student organizations have specific knowledge of regional funding programs and special services in the respective federal state.
In addition to student services as a source of information, it is worth taking a look at the website of the Agree Bank. The information on the Ministry of Education website is also useful. This overview, which is provided online, shows the public financing offers at the federal level. In a nationwide context, it is also interesting to see possible grants from the relevant well-known organizations. (Examples: political foundations, Lions, …).
The second group of those interested in loans already has both feet in their professional lives after completing their studies. Along with the new phase of life, income increases, but so does the cost. The furnished room in the dormitory has to give way to your own apartment. There is also no free travel on public transport for working people. Your own car becomes the central means of transportation so that the workplace remains accessible.
With the credit after graduation, this need group fulfills “everyday” consumer desires that every employee knows. They are to be assessed according to the same criteria as any consumer loan. It is irrelevant whether you are in a higher professional position or after your apprenticeship. Professional starters were particularly worried about the student loans of the past. Is it possible to grant a loan in view of the relatively high total debt at present?
As already mentioned, the credit after graduation in this case is an ordinary consumer loan. As for lending to every consumer, regular credit institutions check the creditworthiness of lending and proof of actual solvency. Modern credit checks calculate creditworthiness using the score. The good score shows the fundamentally good starting point for graduates.
The credit situation for starting a career is difficult if the trial period has not yet been completed. Income that is not secured by a permanent employment contract does not count towards proof of actual repayment ability. A loan with a guarantor or a loan secured by property collateral would be possible in this situation. – Although shortly after studying real property collateral that could be recognized for lending, it can rarely be assumed.
Few graduates have to worry about the widespread concern that existing student loans unite to the pitfall. Each time a loan is granted, the household bill shows whether the loan is sustainable. Existing student loans are of course included in the calculation, but the low rate does not have a significant impact on the evaluation result. It is not the total amount of the liabilities that decides on the lending, but the debt sustainability.
Doubts about the usefulness of the credit after graduation are human. It would even be almost careless to opt for a loan if the meaningfulness was not critically questioned. Each loan includes opportunities and risks by transferring future income to the present.
Nobody can look into the personal future. But failing yourself for life important reasons out of fear of repayment obligation is also wrong.
Every reasonable credit decision – for lenders and borrowers – is the result of a serious weighing up between risks and expected benefits. The focus for both sides should always be that the monthly installment remains sustainable. – Without having to make disproportionate savings every month or no longer have any financial scope to react appropriately to setbacks.
Lending does not work right away in every life situation. Those who apply to work in another region after completing their studies face major hurdles with their professional success. Financing needs arise from the move, deposit, new furniture and, in the case of upscale jobs, even from changing outfits. Taking on a job on the stock exchange with “student gear”, for example, would not necessarily promote a career.
Nevertheless, this loan is a particular challenge after graduation. Nobody – without guarantors – can seriously hope for quick financial help from the “usual” providers. The only way out is often only private lending.
Good Finance and Best Lender are considered to be the market leaders in serious lending from private to private. Free of tight legal framework conditions, private investors like to decide to grant the loan after graduation. – Because the good professional perspective of an academic speaks for investment security.