Student loans are funds provided by the government or the private sector to allow a student pays his tuition, buying books and other care expenses during their studies, especially if you have savings to cover these needs.
These loans help, which would otherwise have been able to acquire education because of poverty before going to school. However, there are free and must be paid back when one of them to carry out teaching and working lands.
The advantage is that it allows the program to poor students and those whose parents are poor to get the regular training. Brings education to reach the poor and prevent its exclusive only the rich. And 'so on the basis of helping students who can not afford to pay taxes in your pocket.
In addition, students are not burdened with the repayment of the loan, while still in school. It allows him to focus on the study please without fear of paying its debts. It allows you to take courses, pay the rent and can not eat without looking for other sources to get money to take care of your diet.
It also provides uninterrupted education. Since the liabilities are paid at the end of the study, students have the privilege of continuing their studies without leaving the school because of their inability to pay its debts. The beauty of the whole package is that they are able to complete their studies in time all things being equal.
In addition, the interest rate is cheaper than other forms of loans. It is understood that the person taking the loan is a student, the type of interest is bound by at least 2 to 3 points lower than other forms of loans.
The refund is distributed to make it less expensive. You can repay the debt through a system of reimbursement, provided that lets you pay a certain percentage of their monthly income.
Different countries have different procedures for the acquisition of student loans and means of payment after completion of their studies. In general, there are factors that come into consideration before loans are distributed to students. The level of parental income can be considered: the income level of students may also be considered especially for those who already have a job before considering a return to school.