Sometimes it is not easy for students – not only the often demanding subject of the course has to be mastered successfully, also the financial side of the course or life as a student in general must and should be clarified – because how else can the student booth, the food in the cafeteria and various learning materials are paid for? The Bafögamt and parental home do not always pay enough, and a side job cannot be found quickly.
Quickly loan – what does it mean?
It is unlikely that you will receive a “quick loan” as a student. Fast credit means: credit with an immediate approval, i.e. a loan from which no Credit Bureau information is obtained. Unfortunately, the creditworthiness of these loans, the so-called Swiss loans, is checked differently than by obtaining a Credit Bureau information. A permanent job is required where a certain amount of income is earned – not only students, unemployed and pensioners are excluded from these loans, but also self-employed, for example.
So instant loans without Credit Bureau are canceled for students – but what about when a student turns to a bank or a savings bank and asks for a normal installment loan or a small personal loan?
Unfortunately, students also have very bad cards there – hardly a reputable bank would grant a student an installment loan, at least not if no guarantor can be provided that is solvent enough to pay the debts of the first borrower. However, guarantee loans should be used with extreme caution and only used in extreme cases.
Education loans for students
All that remains are the educational loans that students offer from a few banks, including a few savings banks and Capital Lender. The banks also require creditworthiness from the applicant for these loans – that is, a broken cell phone contract and open catalog order invoices would not exactly help a loan approval.
An educational loan generally works a little differently than a normal installment loan: this means that the loan amount is not paid out in one go and is then repaid in installments – rather, the loan amount itself is paid out to the borrower in fixed monthly installments.