The benefits of taking out the Standard student loan are:
- The interest rate of 10.75%
- The loan covers books and equipment for your study
- You can finance 50% or 100% of your total studies
- No guarantors needed
- Pay only after completing the course
Why does Clube Utua recommend the Standard student loan?
Standard student loans are designed to help you secure your future brightly and hassle-free.
For this loan, there are two options to consider: a loan with a guarantor or without a guarantor.
Loans with guarantors can be released for a total of R80000, with R20000 destined for the purchase of equipment and books. This modality is indicated for those students who have already completed the course and can count on a guarantee or a guarantor that can cover the costs of the loan.
The second option is student financing which does not require a guarantor and you only start paying the loan installments at the end of your course. Values up to R120000 per year of studies are released. With the value of this loan, it is possible to purchase books, equipment, and even accommodation if you do not live in the city of your university.
Both options are interesting and each one has its onus and bonus, you need to understand your financial reality to choose the best option for your pocket.
Author’s Opinion
To take out the Standard student loan, it is necessary to better understand the available options.
With the first option, the interest rates will be lower because it is not a loan to pay off your graduation but to help you conquer the study equipment, pay off debts of overdue tuition if you are graduating, or any type of need. that fulfills the purpose of the loan. As the repayment of this loan takes place shortly after the release of the amounts, the requirements for contracting are facilitated.
In the second option, as it is financing with long-term repayment, the interest rates will be slightly higher than the first option. This is because the value of your studies is multiplied by the interest rate on the date of hiring and, as graduation takes place years later, a market adjustment is imposed on the value, making your balance greater than the initially contracted. In addition, the loan begins to be charged in the month following your graduation, so planning is needed to deal with this debt.
To take out the Standard student loan, you must meet some basic requirements. Let’s find out now what these are!
