Student loans are more in demand among students on those university programs, where there are less budget places.
“The top fields are business and management, social sciences, law and medicine”, said the head of the administration of student education and science one of the Swedish universities. According to her, a lot of applications are received, but the dropout occurs already in the bank, because it requires the borrower to conclude the contract, provide a guarantor (although, the guarantor is already the state). Those, who cannot bring a guarantor, don’t get loans.
The representative of the product development department of Scandinavian banks stated that the bank is only an intermediary, it doesn’t add anything to the terms of lending, everything is regulated by the rules of the Cabinet of Ministers. Banks can issue SMSpengar to students at 0.5 / 10 percent of the loan amount from 17 to 22 thousand Euros for 10-15 years.
“Of course, not everyone can fulfill these conditions,” the banker says. – We can say that this is one of those loans, the discipline of payments for which is quite good.”
Strictness of student loans: steps to appeasement
The last but not the least fact is that the payment discipline is high due to the rigidity of loan conditions. The guarantors for most students are their parents, who have to return the loan to the bank, if the offspring experience financial difficulties after graduation or in the case of not graduating from high school. OPR Företagslån offers loans for students with reliable guarantees and fees.
In Sweden, the association of students believes that such strict requirements deprive those people who wish to study, but can’t get to university, because many parents still pay their own loans. The scope of these obligations is such that parents cannot become guarantors.
“There is a problem related to the amount of student loan. Now, the rules set a maximum amount of 25 thousand Euros, but there are a number of training programs that are more expensive than these maximum ceilings,” – said the President of the student union in Stockholm. Students have to seek additional funding in addition to the loan already, which has been received under the guarantees of parents and the state.
The association of students began active negotiations with the administration of student education and science to mitigate the rules of the Cabinet of Ministers and improve the situation with the availability of loans under state guarantees.