Important Information on Credits For Education

Credit for study is a kind of financial aid which can be provided to the borrower on returnable and not free conditions. It means that should return to bank a bigger amount than he obtained, having paid for use of credit assigned amount of percent.

Obtaining the credit for education is justified only in case when the borrower is sure that after graduation job will bring a fixed and high income. For future student obtaining of such credit is an occasion to estimate correctness of chosen profession and possibility of its further application.

The credit for education granted by the bank is not handed out to the student, but transferred on the account of educational institution in which the student will get his education. Return of a debt on this credit begins after education has been completed. The bank gives to the borrower time that he could get a job after obtaining the diploma then starts collection of payments. Usually some years are given for it.

The educational credit can be issued for any period of training, both for full term, and for couple of semesters. The students who obtained the credit can also get and preferential support from the state. Preferential education can become available for those students who get their education for payment and have a good progress in studies. However such soft credit can be granted only to students who study at educational institution included into the list of a state program on educational crediting.

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