January 2019

Without higher education today it is difficult to count on a prestigious and highly paid job. In a number of sectors of the economy, a specialist without a “tower” will not even be considered. However, the number of budget places in universities is always limited and therefore more than half of all Russian students study for a fee. Not all parents have money for education, and young people themselves, due to lack of experience and skills, can rarely earn good money. The only way out sometimes is to take out a loan from a bank, and the question of how to get a loan for higher education for students is very relevant today.

What is an educational loan?

An educational loan is a bank loan for a student to obtain higher or secondary specialized education, or certain skills in advanced training courses. A number of banks only work with loans for higher education, but this is their right. A distinctive feature of such a loan is that the student does not receive the money in person, since it is transferred directly to the account of the university or other educational institution. The loan can be provided in parts, that is, as the need to pay for the next semester arises.

Payment of the loan itself (except for interest, and sometimes they are paid partially) during the study period is not made. This allows you to calmly pay the bank when the student already gets a job.

If a student receives an educational loan with government support, the interest rate will be lower compared to conventional loans. However, such programs are only suitable for a specific list of universities and specialties. The provision of such loans is regulated by Article 104 of Federal Law No. 273 “On Education in the Russian Federation”.

How to get a loan to study at a university?

To obtain a loan for studying at a university, you should contact a bank that provides this type of loan. A financial institution specialist will tell you what documents need to be collected. In any case, the student will be required to:

1. Passport and copies of pages with photo and registration. Sometimes you may need a second document confirming your identity (passport, military ID, driver's license).
2. Certificate 2-NDFL from the place of work, if the student is working. It may not be available if you receive your first higher education, but for those who receive a second higher education or take courses, it is required.
3. Agreement with the university for training. This document confirms the intended use of the future loan. In other words, you first need to enroll in an educational institution and only then apply for a loan.
4. A certificate from the university about the cost of training indicating the terms of payment. The bank will transfer the required amount to the educational institution.

The student should not forget about possible additional income, if he has any (scholarship, dividends from shares, rental of real estate, part-time work). They also need to be documented in order to increase your solvency. Any movable or immovable property owned (room, apartment, car) will serve as an additional guarantor for the bank to pay the future loan. And for large amounts (more than 300–500 thousand rubles, depending on the bank), security in the form of collateral will be necessary. This does not apply to educational loans with state support, which are provided on preferential terms.

Both adults and persons under 18 years of age can apply for a student loan for education. But in the latter case, you will additionally need notarized consent of the parents (or trustees) to receive such a loan and permission from the guardianship (trusteeship) authorities. There is an important nuance here: young people under guardianship will not be able to count on an educational loan until they reach adulthood.

Depending on the bank, it is possible to finance education in foreign universities, and not only in Russian universities.

Education loan terms

Each bank has its own specific conditions for student loans. Among the main ones, the following should be highlighted:

• the interest rate is limited to the range of 7–20%, the lowest rates are for programs with state support;
• the amount of the down payment is 10–40% of the total loan amount, but for programs with government support it is not needed at all;
• loan repayment period after graduation from 2 to 10 years;
• sometimes (but not always) it will be necessary to conclude an insurance contract for life, health and the collateral, if any;
• permanent registration of the student at the bank location;
• the presence of guarantors (not always) as security for loan payments with a stable official income and a good credit history;
• the maximum loan amount under the program with state support is not limited, and in other cases it usually ranges from 250 thousand rubles to 1 million;
• it is possible to attract co-borrowers;
• the need to provide a diploma and a certificate of official employment after graduation.

Which banks issue education loans?

Not all banks issue targeted education loans. And in those credit institutions that provide such loans, the programs are very different when compared with each other. Five major banks that borrowers may consider taking out a loan are discussed below.

This bank offers students a loan for education from 15,000 to 1,000,000 rubles. Deferred payments for the period of study are not provided. That is, you will have to repay the loan immediately after taking it out. At first, the interest on the loan will be:

• 24.9–38.9% per annum (for a loan term from 12 to 18 months);
• 22.9–37.9% per annum (from 19 to 36 months);
• 24.9–37.9% per annum (from 37 to 60 months).

These terms will apply for the first 4, 8, or 12 months (depending on the loan term). And then, if the client repays monthly payments on time, the rate is reduced to 11.5% per annum, regardless of the term.

The bank lends to borrowers over 21 years of age. They must be employed and have at least 3 months of experience at their current place of work.

It is clear that such an offer from the bank is more like a regular consumer loan. It is suitable for working students enrolled in distance learning.

At the moment, the country's leading bank has suspended the program for issuing educational loans with government support. This is due to the introduction of new formulas and coefficients for such loans and so far no amendments have been made to the laws and regulations. However, the state promises not to abandon this program.

Before Sberbank stopped issuing educational loans with state support, it offered the lowest loan interest rate in this sector - 7.5% per annum. And interest in excess of this amount (75% of the refinancing rate) was transferred to the bank by the state. The interest itself was paid in full only from the 3rd year of study, and in the first 2 years it was accrued partially. The program provided for payment of 100% of all tuition for any form of training without fees, guarantors, insurance or collateral.

Now Sberbank can only offer students a consumer loan at an interest rate of 12.9 to 19.9% ​​per year according to the standard program. The minimum amount is 30 thousand rubles, the maximum is 3 million rubles. The maximum period is 5 years without collateral or guarantors. The loan will be provided only to borrowers over 21 years of age.

Post Bank

It is proposed for the student to apply for a loan under the “Knowledge-Power” program. You can get up to 2,000,000 rubles for education at 14.9% per annum. But the rate is valid only when activating the “Participation in the insurance protection program” service. Otherwise, the borrower will be offered 27.9% per annum. During your studies, you only need to pay interest, and it is calculated on the money actually disbursed (the loan is provided in installments - for each semester). It is possible to add your own funds or even fully pay for any period while maintaining the possibility of using the loan in the future.

The bank works only with a certain list of universities, which can be found on the official website of Post Bank. The borrower must be over 18 years old and have at least 3 months of work experience. If a student does not fit into these requirements, then he can act as a co-borrower (age allowed from 14 years). An important nuance: the presence of at least one co-borrower (a maximum of two is allowed) is mandatory if the borrower himself is not a student.

The repayment period for an education loan for students can be up to 150 months (14.5 years). While looking for a job after graduating from university, when conscripted into the army or while on academic leave, a deferment in the payment of the principal debt is allowed.

At the moment, this bank does not have a special program for providing education loans. But you can resort to a classic consumer loan or credit card at 11.9–25.7% per annum. The lowest rates are offered to clients of a financial institution, as well as to those who already have a positive credit history.

You can take out a loan for 5 years, the maximum amount is 700 thousand rubles. The borrower must confirm his income with a certificate in the form of a bank, or 2-NDFL. Work experience at the current place of work must be at least 3 months. Renaissance Credit has set the minimum age for a bank client at 20 years, and for other borrowers at 24 years.

This bank offers students a consumer loan at 14.9% per annum (subject to activation of the “Guaranteed Rate” service). You can borrow up to 1,000,000 rubles for up to 3 years. If you need up to 100,000 rubles, then you can get a loan under another program at 12% per annum. The borrower himself must be at least 20 years old and have at least 4 months of experience with his last employer.

When deciding how to take out a loan for your child’s education, you need to carefully assess your financial capabilities, including your future salary. Otherwise, repaying the loan may become a heavy burden. In general, this type of lending is still developing in our country.

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The Russian government has been supporting young people seeking higher education for 10 years.

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However, the program is not yet popular enough among wide circles. Why? Or from ignorance about the existence of government support, or simply from fear of borrowing? It’s no secret that many Russians immediately have negative associations with the word “credit”.

But it is the program proposed by the government that can help out many who do not have enough money for education. Moreover, it has quite attractive conditions for receiving it. So what is government support? Let's figure it out.

What it is

The main advantage of a loan with state support is its low interest rate, which compares favorably with the conditions of other consumer loans. At the same time, to receive an educational loan, a potential borrower does not need to confirm his income, and what could it be at the age of 18?

In addition, such a loan can be taken out not only for the entire period of study, but also for a certain period. For example, a student has already studied his first year at the university for free, but for some reason did not pass the exam. Therefore, I am forced to switch to contract training. This is where this type of loan can help.

The loan can be repaid within 10 years from the date of completion of studies. The interest rate is no more than 8% per annum of the amount issued for training.

And this is another bonus, since the young man already has a job and experience, and therefore his salary is appropriate, which allows him to pay off the debt painlessly.

There are currently two types of education loan programs:

• , which can be obtained from most Russian banks at 12% or more;
• An educational loan with government support, which differs significantly from a regular education loan.

According to, a student or applicant can take out a loan for the entire period of study, counting on a discount equal to ¾ of the refinancing rate of the Central Bank of Russia.

Moreover, to process it, the bank will not require documents typical for other types of loans, registration of collateral, insurance or documents confirming income, or guarantors.

Preferential educational loan

Loans on preferential terms are provided only for certain specialties, the list of which is presented below in file No. 1.

Registration is possible not only for applicants or students receiving full-time higher education for the first time, but also for those receiving a second education, or secondary vocational education in any form of study.

Requirements for obtaining a preferential educational loan:

1. It is necessary to fill out the bank's application form in the prescribed form ().
2. If a student applies for a loan, he must provide it, since if he has academic debt, the loan will not be given.
3. Confirmation of temporary registration if the loan is issued in the area where the university is located.
4. A copy of the contract for obtaining education at a specific university.
5. A copy of the work record (if available).
6. Passport.

The application is considered by the bank no more than 7 days. And if all the documents are in order, you receive the necessary money for training. It is worth noting that an educational loan with state subsidies is transferred by bank transfer to the personal account of the university that will be indicated in your application.

This is a targeted type of loan, and it can be spent solely on the specified purposes. In addition, the peculiarity of this loan is that money is transferred to the account of the educational institution in parts (tranches), usually every academic semester.

After completing each stage of study, the student must provide a certificate of academic achievement to the bank. A student’s good academic performance is the key to continued funding.

The advantages of a preferential type of educational loan are:

• no requirement to confirm income
• there is no need to secure the bank's risk with collateral;
• extended debt repayment period.

Who gives an educational loan with state support and a list of universities

Today, only 2 banks in Russia are engaged in such programs - Sberbank and Rosinterbank. Young people who are not adults at the time of applying for the loan require permission from the guardianship and trusteeship authorities and a written application from their legal representatives.

The receipt of an educational loan by persons under the age of majority over whom guardianship has been established (based on April 24, 2008 No. 48-FZ) is excluded.

The conditions for granting educational loans from banks are practically the same. The only difference is the interest rate. It is a little more profitable to borrow from Sberbank. But the requirements for student performance are a little stricter.

(click to enlarge)

In order to receive subsidies for your loan from the state, you must confirm your good knowledge after each session. A certificate of academic performance must be submitted to the bank to receive the next tranche to the account of a university or other educational institution.

Table. Comparison of conditions for obtaining an educational loan with state support.

* - currently the Central Bank refinancing rate is equal to the key rate of the Bank of Russia, which is currently equal to 11% (Instruction on the key rate of the Bank of Russia dated December 11, 2015 No. 3894-U).

The list of higher educational institutions that have entered into a corresponding agreement with Sberbank PJSC can be found in file No. 2.

Documents for registration

1. The contract and its copy confirming the consent of the educational institution to provide training services to a specific person.
2. A document confirming the identity of the applicant for an educational loan (passport).
3. Certificate or certificate of temporary or permanent registration in the area where the bank branch is located where the loan is taken.
4. For men liable for military service, a military ID is required.
5. according to the sample provided by the lending bank.
6. Payment document for the provision of educational services issued by the educational institution.

In addition to these documents, a borrower who has not reached the age of majority must collect the following documents to submit them to the bank:

• birth certificate of the loan applicant;
• passports and written consent of legal representatives;
• document from the guardianship authorities authorizing the transaction.

Receipt procedure

Any young person with Russian citizenship who is either an applicant or a student at a secondary specialized or higher educational institution can receive it.

Such a loan is provided to pay for tuition in those educational institutions that:

• have a license to carry out their activities;
• entered into a special agreement with the Ministry of Education and Science of the Russian Federation and PJSC Sberbank.

The loan is available for students enrolled in any form of study - full-time, part-time or distance learning. The loan can be issued for the entire amount of the contract amount for training, ¾ of which is compensated or subsidized by the state.

The bank does not charge any fees for early loan repayment. In addition, collateral and guarantors are not needed to receive money for training. Popular in all banks, this type of lending is not provided.

During their studies, the student pays only interest on the loan, and, starting from 3 months after graduation, begins to repay the loan itself.

The maximum payment period is 10 years.

If a student studying on a contract basis has excellently defended his knowledge at the next session and as a result is transferred to a budgetary form of study, then, according to the terms of the contract, the educational loan is terminated from that moment. The borrower will have to repay the debt only for the period of training on a paid basis.

And also reimburse interest for using banking services. The banking agreement can be extended if the student decides to continue his studies, for example, at a master's degree or receive a second higher education.

For poor academic performance, a student may be expelled from the educational institution, in which case he loses the preferential deferment of repayment of the principal portion of the debt.

According to the terms of obtaining an educational loan, he must now repay the entire debt accumulated during his studies with reimbursement of interest. The loan must be repaid over the next 10 years. The banking agreement also provides for a penalty for improper fulfillment of debt repayment obligations.

So, if the terms for repaying the money according to the schedule developed by the bank are violated, the debtor is obliged to pay 0.05% of the balance of the amount for each calendar day of delay.

Only two Russian banks have specialized loans for education. RBC Money looked into the conditions under which you can get a preferential loan rate and what alternatives students have

A student taking an exam (Photo: TASS)

In 2012, Muscovite Anna Zulunova did not have enough points on the Unified State Exam to enter a budget place in the Faculty of State and Municipal Administration at the Higher School of Economics (HSE). In 2012, only pessimists were expecting a crisis, and Anna’s parents, who had their own business, agreed to pay for her education. But after two years there was not enough money to pay for training.

In the training section, the student was told about educational loans on preferential terms; on the advice of HSE staff, Anna contacted Sberbank. Two months later, most of which was spent collecting documents, Zulunova received a loan for 640 thousand rubles. deferred for the duration of training. She is satisfied with the terms of the loan. “Now I only pay interest, 7.06% per annum - that’s about 800 rubles. per month. After I graduate from university, I will have to pay about 8 thousand rubles for 10 years. per month".

Zulunova became one of the few Russian students who received a classic student loan. The main feature of loans for students is their low interest rate and deferment of repayment of the debt during their studies. This type of lending is very common in developed countries, but is still poorly developed in Russia. According to the Ministry of Education, 60% of Russian students - 5.5 million people - study for money. At the same time, about 300 targeted education loans are issued per year.

The main reason for such a deplorable state of affairs, says Alexey Goryaev, director of the NES Master of Finance program, is that 90% of students receive their first higher education no longer for the sake of real knowledge, but to have a “crust.” And if education is not valued, why take out a loan for it? “If we look at the results of sociological surveys of students, a very large proportion of them do not intend to work in their specialty. Such education is hardly worth seriously investing in it, much less going into debt for it,” explains Goryaev.

In addition, banks are reluctant to lend to students: this is not the most reliable category of borrowers, and low rates, lack of collateral and deferred payments for the entire duration of study make such programs unprofitable.

Government subsidies

Since it is unprofitable for commercial banks to lend to students, part of the loan rate is subsidized by the state. The Russian government began looking for ways to encourage banks to issue student loans in 2007. For seven years, officials experimented with subsidizing student loans and, as a result, approved a special state program in 2013.

According to its terms, a loan can be taken out for studying at any university. With the help of a loan, it is possible to pay not only for higher education in state universities (including postgraduate studies), but also for training in vocational schools, colleges and any private educational institutions. Young people over 14 years old can apply for a loan. There are no academic achievement requirements.

The loan term is the period of study increased by 10 years. You must begin repaying the principal debt only three months after graduation. No guarantors are required. By government decree, the preferential loan rate is defined as ¼ of the refinancing rate (8.25% per annum), increased by 5 percentage points. Thus, the rate for the borrower is 7.06% per annum (like Zulunova). The state reimburses the bank for ¾ of the bank’s refinancing rate: in 2013, the budget spent 17 million rubles for this purpose. However, only a few people can get a loan on such preferential terms.

Simple difficulties

There must be too many coincidences for this to happen. The Ministry of Education must enter into agreements with the university and the bank. And they, in turn, must conclude agreements among themselves. Only after this the bank can receive a subsidy. So far, the Ministry of Education and Science has managed to conclude agreements to subsidize educational loans with only two credit organizations - Sberbank and Rosinterbank. Of the 10 largest retail banks that RBC approached, only Rosbank is considering joining the state program. But first, the bank will observe its effectiveness, says Natalya Khmelevskaya, director of segment development and client marketing at Rosbank.

At the same time, not all Russian universities have managed to conclude agreements with the two banks participating in the program. Of the 10 leading (according to Expert RA) Russian universities, only three have agreements with banks - the Higher School of Economics, MGIMO and St. Petersburg State University. MSTU im. N.E. Bauman is in the process of completing the paperwork. However, even applicants to these universities do not have much choice. For example, MGIMO works with only one bank - Sberbank.

As a result, from the start of the new program to the end of March 2015, only 300 loans were issued. Why don't banks want to participate in the state program?

The main reason is unfavorable conditions. The subsidy scheme proposed by the government does not reflect market realities, says Anton Pavlov, head of the retail business development department at Absolut Bank. The subsidy is tied to the refinancing rate, which in our country means little; the main benchmark for Russian banks is the key rate, he says. “Now it is 14%, you can judge the difference yourself.” If the state subsidized ¾ of this particular rate, then the rate for students would be 8.5% per annum.

For student loans to be profitable for banks, the rate on them must be at least 20%, says Pavlov. “In the current economic situation, most students simply cannot afford to repay such a loan,” the banker said. For example, if you borrow 1 million rubles from the bank. at this rate, then during training interest payments will amount to 15 thousand rubles. Then, over the course of 10 years, the graduate will have to pay about 25 thousand rubles. monthly.

Alternative loans

What should students do who still want to get a student loan? Often, education is paid for with the help of ordinary consumer loans, which, as a rule, are received by the student’s parents, says Elena Dokuchaeva, president of the Sequoia Credit Consolidation collection agency. “According to our estimates, no more than 5% of consumer loans are taken out to pay for education. And in total, education loans occupy no more than 2% of the total loan portfolio of individuals,” says Dokuchaeva.

For example, a regular consumer loan, which, however, is advertised as educational, is offered by Citibank. “Education loan” is issued for a period of up to five years at 21% per annum.

In addition to a state-subsidized loan, which is called “Credit”, Rosinterbank has its own program “Affordable Education”. Loans under this program are issued not only in rubles, but also in foreign currency, since the bank reviews applications for tuition fees abroad. Russian universities must have a license to conduct educational activities. Foreign educational organizations must participate in rankings recognized in Russia. The interest rate ranges from 13% to 25% per annum in rubles and from 8.9% to 20.9% in foreign currency. It depends on the loan term and the number of paid semesters.

Bank "Education" provides loans only for studying at state universities. The borrower must have a permanent job, so if the student himself does not work, the loan can be issued to his parents. The interest rate is 25%, the bank does not provide deferment. Funds are transferred immediately to the educational institution's account.

Credit Europe Bank issues loans for studying at Russian universities, language schools and advanced training courses. Loan in the amount of 10 to 400 thousand rubles. can be obtained only for one year or one semester of study. The rate depends on the university: for some educational institutions it is 22%, for others - up to 60%. To receive a loan, you need a certificate of official employment, the borrower’s age is 21 years or older; due to such conditions, the student’s parents most often receive the loan.

In addition, students can receive a 1% annual discount at Center-Invest Bank. The procedure is this: you take out a regular consumer loan, provide a certificate of paid education, and your rate is reduced.

Personal experience: how to get an educational loan in Russia and the USA

Maxim Faldin, founder of Wikimar

A country - USA
Loan rate - 5%
Sum - $150 000
Payment - $900

In 2007, I enrolled in a two-year MBA program at Stanford. After I successfully passed the exams, they sent me a questionnaire. One of the questions concerned the method of payment for training. I checked the “credit” box. After that, they sent me an agreement with the terms of financing my loan.

All the processing went through the financial department of the university; I’m not even sure that I remember correctly which bank gave me the loan. Once a month at the university, I was simply given a check, which I paid at any Wells Fargo branch - the company was the settlement bank for the loan.

The loan size was $150,000, of which $110,000 went to pay for the education itself, and the remaining $40,000 was the so-called living cost. You could use it to buy any things necessary for education, even a laptop.

The terms of the loan are excellent: term - 25 years at a rate of 5% per annum. You had to start paying only 6 months after completing your studies. Before this period, neither the principal nor the interest had to be repaid. I still pay just over $900 a month through my Wells Fargo online account. The payment is small for me, and the devaluation of the ruble does not bother me at all. If I were offered to borrow again under such conditions, I would gladly do so.

Sonya Savelyeva, project manager at Strelka Institute (Photo: Artem Goloshchapov for RBC)

A country- Russia
Loan rate - 10%
Sum - $45 000
Payment - $1121

In 2006, I came from St. Petersburg to enter the Faculty of Foreign Languages ​​and Regional Studies at Moscow State University and was not able to enroll in free places. When I picked up the documents from the study unit, the managers of the Credo program from Soyuz Bank were waiting for me at the exit; their office was located in the first humanities building of Moscow State University. I was offered to take out a loan to pay for tuition - $45,000 at a rate of 10% with a deferment for five years.

After graduation, you had to pay a little more than $1000 for five years. There were no special requirements, other than a guarantee from the parents. The bank did not offer loans in rubles. At that moment, I knew nothing about loans - no one in my family had ever taken them.

After the devaluation of the ruble, payments began to eat up up to 80% of my income. The bank refuses to convert the loan into rubles. Sometimes my parents have to help me. I have two years left to pay off the loan. If I can’t do this, the only thing the bank can offer is to extend the loan until 2021. The payment should be reduced to approximately $500.

Now I really regret that I took out a loan in dollars. But, by and large, I had no choice. My parents could not pay for education, and the only bank where at that moment it was possible to get an educational loan with a deferment was Soyuz.

Getting a decent education is the first investment in the future of young people. Unfortunately, not every family is able to pay for tuition with their own funds. is one of the priority areas of the banking sector.

Which banks offer special programs, lending features, conditions for obtaining a loan, how to pay for education in foreign educational institutions. Current offers from banks in 2018.

Borrowing money to pay for education is a type of targeted consumer loan. Its main features are:

1. Possibility to make a deal for a student. The borrower under the agreement can be the student over 14 years of age (with parent guarantors) or the child’s parents themselves.
2. Obtaining a grace period when only interest is paid for using the loan. The loan is repaid after a certain time.
3. The deal is targeted. The money is transferred directly to the account of the educational institution. A one-time issue or opening of a credit line is allowed.

Loans are provided without additional payments (no insurance, commissions, etc.). As collateral, a surety can be issued, a vehicle pledge, etc. There are credit organizations that provide loans without collateral.

How to get an education loan?

The transaction is completed in several stages:

1. Choice of lender. First, you should select credit institutions that implement such programs. A list of banks can be found using specialized sites on the Internet.
2. On the credit institution's website, review the list of required documents. Prepare them for submission to the bank.
3. Documents are submitted at the place of registration of the client or at the location of the educational institution.
4. Application processing time is from 3 to 5 days. At this time, the bank has the right to request additional certificates, a guarantee (if necessary), etc.
5. If the decision is positive, a day is set for completing the transaction and transferring money.

The loan amount can be used to pay for one semester, or, when opening a credit line, the loan will be issued in tranches to pay for the entire period of study by semester.

Minimum requirements for borrowers

Banks set the following requirements for borrowers:

• Availability of Russian citizenship, permanent registration;
• Age from 18–20 years, registration is allowed for a borrower aged 14 years or older with written parental consent and permission from the guardianship authorities.
• Having a minimum work experience of 3 months;
• Obtaining sufficient regular income to service the debt;
• Availability of mobile and home/work telephone numbers.

If the borrower or co-borrower has a negative credit history or open overdue debt, the loan will be denied.

List of documents for obtaining an educational loan

Different banks require various additional documents, but the list of basic ones is standard:

• Passport;
• Agreement on the provision of paid educational services;
• If the borrower does not live at the place of registration, a certificate of actual place of residence is provided;
• Receipt for payment of tuition fees.

Additional requirements may include confirmation of income with personal income tax certificates 2 (according to the bank form), an extract from the work book, information about receipts to the personal account in the Pension Fund.

Co-borrowers and/or guarantors must confirm their income and employment, provide a passport and 2 documents. If the transaction is executed for a minor, the consent of the guardianship authorities and the child’s legal representatives is provided.

Education loan terms

Standard conditions:

• the loan amount is determined based on the cost of training and the solvency of the borrower; in some banks the maximum amount is determined to be 1,500–2,000 thousand rubles;
• the currency of provision depends on the currency of the invoice; most often, the loan is issued in rubles;
• loan term from 120 to 150 months;
• interest rate 14.0–30% per annum.

State subsidies of interest rates from 2018 will be carried out in accordance with the Rules approved by Decree of the Government of the Russian Federation No. 197 of February 26, 2018:

The document defines the requirements for banks, as recipients of subsidies, for borrowers, and the conditions for transferring funds.

Conditions for educational loans under the program:

• In addition to a loan to pay for education, it is possible to issue a related loan to pay for accommodation, food, and household needs. Its size is defined as 7 regional subsistence levels;
• The loan term is calculated as follows: grace period (training + 3 months) + 120 months;
• the bank has the right to increase the interest rate not by 5 (as was previously), but by 7 p. plus ¾ of the refinancing rate, i.e. the interest rate today can be 9.5%;
• no collateral required;
• During the period of study, the borrower is given a deferment on the payment of the principal debt and part of the interest for the first 2 years of study;
• extension of the contract is allowed once.

The program is planned to be launched in the fall of 2018; the government subsidy program is currently suspended.

The main difficulties in obtaining a loan for education abroad

Education received in foreign educational institutions is considered the most prestigious and high-quality. Specialists with diplomas from foreign educational institutions have access to the best companies for management positions with good incomes and brilliant prospects.

The cost of education abroad is an order of magnitude higher than in Russian universities. It is difficult to find a bank willing to finance a transaction; stricter requirements may be imposed on both the borrower and the lending conditions.

Difficulties when applying for an education loan in Europe:

• To create a package of documents, banks request an agreement with an educational institution for the provision of paid services, i.e. the client will need to visit the university, draw up an agreement, translate it, notarize it, etc. This will entail additional costs of money and time, and the result of the application review may be negative.
• The minimum age of the borrower is 22–34 years, so it is almost impossible to get a loan for a school graduate.
• The borrower must have a high level of solvency in order to be able to obtain a large loan amount.
• For such transactions, prolongation is not allowed, and the “deferred payment” service is not possible.
• An initial payment of 10–15% of the cost of training is often required, in addition to funds for living abroad.
• The borrower should be prepared for additional costs associated with currency conversion if the loan is provided in rubles, but tuition fees are required to be paid in dollars or euros.
• If the loan is issued in the payment currency, then there will be different interest rates on it, the borrower will be dependent on the foreign currency exchange rate.

To reduce the risks of a transaction, banks may request a pledge or guarantee.

A long loan period for studying abroad makes the borrower dependent on the credit institution. The debt is payable even in the event of force majeure.

Comparison of banks providing education loans

Programs are not offered by all lending institutions. This is due to the high risks of the transaction, as well as the fact that the resolution on interest rate subsidies has not yet entered into force.

1 Sberbank

Until 2017, the bank operated the “Education Loan with State Support” program.

As of today, the program has been suspended until Resolution No. 197 of February 26, 2018 comes into force.

According to the program, up to 100% of the cost of training was paid, the interest rate was 7.5% per annum, the loan term was determined as the time of study + 10 years, and a grace period was provided for the use of borrowed funds.

To obtain a loan, no collateral or guarantee was required; the transaction could be completed from the age of 14 without taking into account solvency.

2 Post Bank

The company offers the “Knowledge is Power” loan product:

Terms of registration:

• You can get a loan for studying at those universities, a list of which is available on the bank’s website. If the educational institution is not on the list, you should leave an application for its inclusion;
• The maximum amount provided is 2 million rubles;
• The term is up to 150 months, only interest is paid during training, the principal debt begins to be repaid after graduation;
• Interest rate 14.9–27.9% per annum;
• To consider the application, you must provide: passport, SNLIS, income certificate;
• The loan is provided to citizens of the Russian Federation over 18 years of age who have permanent registration, a minimum work experience of 3 months, and a permanent job;
• The borrower should not have any open arrears;
• If the loan is not issued by the student himself, then he must act as a co-borrower under the agreement.

The application is reviewed within 3 days.

3 Alfa Bank

The credit institution implements the “Education Loan” program:

Terms of provision:

• The maximum loan amount is from 1.5 to 3 million rubles. Owners of salary cards can count on the maximum amount;
• Loan term up to 7 years;
• Rate from 11.99%, regardless of the presence/absence of insurance;
• No collateral and/or surety required;
• The borrower must be a citizen of the Russian Federation, have permanent registration in the region where the bank's representative office is located, be over 21 years old, and have a permanent net income of at least 10 thousand rubles. per month, experience from 6 months;
• To consider the application, you need to collect a package of documents: passport, SNILS (TIN, license), title card for a car (for real estate owned, voluntary insurance policy, copy of the work book), certificate 2 of personal income tax.

4 Zapsibkombank

The credit institution has more than 80 branches and representative offices in many regions of the Russian Federation, including Moscow, Yekaterinburg, Nizhny Novgorod, Chelyabinsk, etc. The bank offers the “Education Loan” program:

Terms of issue:

• The borrower gets the opportunity to pay for studies at Russian universities up to 80% of the cost with borrowed funds, 20% is paid independently;
• Maximum term 5 years;
• Rate from 12.9 to 18.9% per annum, depending on the status of the borrower, loan amount, connection to the Financial Protection program;
• Provided in the form of opening a credit line, interest is accrued only on the actual debt;
• The security may be a pledge of real estate, vehicles, a deposit, or a guarantee from an individual. If you have good solvency, the option of executing a transaction without collateral is considered;
• The application can be submitted by citizens of the Russian Federation living in the region served by the bank, with a minimum experience of 6 months, and having a constant sufficient income.

The loan application can be submitted online, the review period is up to 4 days.

Summary table by banks

For comparison, the main current conditions of banks for the provision of educational loans are collected in the table:

Current programs generally have short terms and fairly high interest rates.

Conclusion

To obtain a profitable education loan, it is better to wait for the decision on subsidizing the interest rate to come into force, or to take out an ordinary consumer loan in order to be able to take advantage of the preferential lending program in the future.

Content

A modern person, regardless of the chosen field of activity, can rarely do without a university diploma. An educational loan is the optimal solution for borrowers or their children planning to study under programs offered by several banks in the country. The product has its own characteristics, advantages and disadvantages and is available to most Russian citizens. However, before starting the transaction, it is worth studying in detail the terms of the loan and debt repayment.

What is an educational loan

This type of lending is provided by individual financial institutions. Citizens receiving secondary or higher vocational education or undergoing special training courses can take out a loan. A student loan for education is provided as part of a targeted program. Some banks issue government-backed loans, which provide significant savings to customers. An educational loan is provided both for the entire period of study and for a certain period of time.

A loan for studying at a university is available in two types of programs:

1. Consumer loan with an interest rate of 12% per annum.
2. A loan with government support, providing a reduced interest rate and special conditions.

To study at a university in the Russian Federation

All citizens over 14 years of age can receive funds for studying in Russia. There are targeted programs for specific banks and preferential loans with government subsidies provided by individual institutions. It is worth noting that the applicant must be enrolled in a university for the issuer to approve the application and provide a complete set of documents. Loans under targeted programs are issued on standard terms with collateral and insurance. A preferential loan with government subsidies does not require proof of income, collateral, etc.

Loan for studying abroad

Over the past few years, education abroad has become increasingly popular and accessible to Russians. A diploma from a foreign university opens up great opportunities for the graduate. However, it is almost impossible to get a budget-funded place in an educational institution in another country, especially for a Russian. Some financial organizations in Russia are ready to provide a loan to pay for tuition at a foreign university, not only in rubles, but also in other currencies.

Today this type of loan is issued in the following banks:

• Intesa;
• Citibank;
• Russian standard;
• Rosinterbank.

Where to get an education loan for students

Russians can get a targeted loan to pay for their education from several financial institutions. The most profitable option is considered to be a student loan from Sberbank, but it is more difficult to obtain than a loan from another bank due to the higher requirements of the institution. Loans within the framework of the targeted program are provided strictly for tuition fees in the amount of the invoice issued by the educational institution. Detailed terms vary by issuer.

With government support

Only students enrolled in certain specialties can receive money on preferential terms. In addition, the educational institution must work with this program. The borrower can be an applicant who has reached the age of majority or a teenager over 14 years old with appropriate permission from parents and guardianship authorities. Loans are not provided to minors taken into guardianship. You can get a preferential loan for education at Sberbank or Rosinterbank, but at the moment the program is temporarily suspended.

Among the advantages of an educational loan with state support, it is worth highlighting the following:

• the opportunity to receive money without confirming income;
• no collateral requirements;
• extension of the debt payment period if necessary.

Bank loan

In addition to the preferential program, Russians can take advantage of special products from domestic banks. This lending option is available to different categories of citizens. The conditions depend on the specific financial institution:

1. Bank "Soyuz" - provides loans in rubles or US dollars in the amount of up to 100% of the cost of training.
2. Rosselkhozbank - offers educational loans up to 350 thousand rubles with the opportunity to extend the repayment period of the debt to 5 years.
3. Societe Generale Vostok - issues loans in rubles, dollars or euros in the amount of 45-750 thousand rubles.
4. Uralsib Bank - issues loans up to 1 million rubles under the guarantee of 1-2 individuals.
5. National Prombank – issues educational loans under the guarantee of the child’s legal representatives or collateral in an amount of up to 90% of the cost of education.
6. Baltic Bank is ready to provide Russians over 18 years of age with 20-200 thousand rubles to pay for education.
7. VTB 24 - provides educational loans with a maximum amount of 250 thousand to 3 million 600 thousand rubles. The loan is provided with a guarantee or without collateral.
8. Post Bank - provides an educational loan with a long repayment period in an amount of no more than 2 million rubles.

Check your loan options in the table:

Financial institution	Interest rate	Debt maturity
Rosselkhozbank	14% per annum
	17-19% per annum
Baltic Bank
Societe Generale Vostok
	10% per annum
National Prombank	18-20% per annum
Pochtabank		Up to 12.5 years

Terms of service

The parameters of the loan agreement depend on the selected bank. The maximum loan amount is in all cases limited to the cost of tuition and is calculated after providing an invoice from the university. It is worth noting that many banks are ready to provide no more than 90% of the course fee. The loan term is set individually; as a rule, it provides for a deferred payment of the principal debt.

Requirements for the borrower

To apply for an educational loan, the applicant must meet the issuer's requirements. The criteria may vary, but the main parameters of a potential borrower are as follows:

• applicant or student of a Russian university;
• minimum age – 14-18 years, but not older than 55-60;
• registration in the region of circulation;
• Russian Federation citizenship.

What documents are needed for registration?

An important condition for applicants planning to take out an educational loan is the availability of a complete package of papers. Failure to provide the required certificate may result in the bank deciding not to provide a loan to the applicant. To obtain an educational loan you need:

1. An agreement on the provision of services between a potential borrower and an educational institution and confirmation that the applicant has been accepted.
2. Passport, SNILS, INN of the applicant.
3. Documents confirming the permanent or temporary registration of the potential borrower.
4. Men liable for military service must submit papers from the military registration and enlistment office.
5. Completed application form according to the bank form.
6. A document from the accounting department of the applicant’s university with an invoice for payment of educational services.

In addition, applicants who have not reached the age of majority must provide additional documents:

• birth certificate;
• passports of guarantors (parents, legal representatives);
• written parental consent;
• permission from the guardianship authorities.

Features of an educational loan

This banking product has a number of differences and features. First of all, the loan is issued without a certificate of income, except in cases where the applicant receives a second education. Borrowers can begin to repay the debt only after completing an educational course and going to work or starting from the third year of using borrowed funds. Before this, the client makes contributions in the amount of accrued interest. You can get a loan only to pay for education at certain universities that are partners of banks.

Interest rate

The main advantage of educational loans is a small overpayment. Special programs of financial institutions provide relatively low interest rates. However, the greatest savings are available to those who take out an educational loan with government subsidy. Under the preferential program, the overpayment depends on the refinancing rate of the Central Bank of Russia.

In addition, the percentage is influenced by which bank the client chooses:

1. The overpayment under the Sberbank program is calculated using the formula ¼ of the Central Bank refinancing rate + 3%.
2. At Rosinterbank, the overpayment on an educational loan is ¼ of the Central Bank refinancing rate + 5%.

Amount and repayment period

The loan amount for educational programs is set in accordance with the bank's rules. The amount cannot exceed 100% of the cost of training, because the financial institution transfers the money directly to the university account. Some provide a loan with a mandatory down payment of 10% towards tuition fees. The repayment period depends on the chosen bank and ranges from 3-16 years. The preferential program with a subsidy from the state provides for a deferment and the total duration of the loan agreement up to 10 years after graduation.

Loan collateral

Preferential student loans do not require the provision of income certificates or collateral. If an educational loan is issued without government support, the issuer may require property collateral or a guarantee from individuals. Collateral is set individually, taking into account the loan amount, the borrower’s parameters and other terms of the transaction.

Education loan for students - application procedure

Obtaining funds to pay for education is different from traditional lending. The transaction is executed subject to the following chronology:

1. Passing entrance tests, admission to a university/college/technical school.
2. Selection of a bank from the list of university partners with the most convenient conditions for the client.
3. Collecting a complete package of documents for submitting an application (the list can be found on the website of the issuing bank).
4. Submitting an application through a branch of a financial institution.
5. Studying the terms of the loan agreement (if the decision is positive) and signing the papers.
6. The university receives funds for the borrower’s education.

How to repay a loan to study at a university

The preferential lending program allows for the repayment of the interest portion of the debt during the borrower’s studies, plus 90 days after graduation. The principal amount is paid for 10 years after the borrower obtains a profession and gets a job. There are programs that do not provide deferred payment. In all cases, the borrower has the right to repay the full cost of training or part in advance without additional fines and penalties.

Pros and cons of educational loans

Special educational loan programs have a large number of advantages. Among the advantages of this type of loans, it is worth highlighting the following:

• low interest rates;
• no commissions;
• deferment of debt payment;
• government subsidies.

However, the product also has disadvantages. Among them it is worth noting the following:

• a large list of required documents;
• limited circle of partner universities;
• non-resident students are prevented from obtaining a loan by lack of registration in the region of application;
• deferment of debt repayment significantly increases overpayment.

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