Pros and cons of student loans
As a student, it is not always easy to afford everything when the school requires both the availability of a computer and expensive school books. In addition, there must be paid for rent and money for city trips, food, shopping, etc. Of course, it is an opportunity to start and save some things in daily life, but it is not always enough.
Therefore, you can take out a loan if you need a quick deposit and then you can start repaying the loan afterwards. If you read here, you can get an overview of the opportunities you have for borrowing money .
Student loans – various options
If you want to borrow as a student, you have several options to choose from. You may be falling over an online loan and would like to know more about it, or you may be considering the possibility of taking out an SU loan. Read more about it all here.
One of the online that you can apply online is a quick loan . The quick loan is a quick and easy way to borrow a small amount – typically up to USD 6,000. These must then be repaid over a short period of time, usually within 30 days.
The reason why the loan has to be repaid quickly, which is important to do, is that there are high interest rates on this type of loan and therefore it can quickly become expensive for you if you do not pay off. However, it is an advantage that you can borrow money quickly and it is even free to borrow in some places the first time you borrow. It simply requires you to repay the loan within 30 days.
The second online loan you can take as a student is a consumer loan. What is similar about the consumer loan and the quick loan is that you do not have to provide collateral when you borrow or document something, and therefore you can use the borrowed money for whatever you want. However, you can borrow more money when you take out a consumer loan – you can borrow up to USD 350,000 and choose a maturity of up to 15 years.
It is therefore possible to borrow more with this type of loan and you can choose a longer maturity.
You also have the option of taking out an SU loan as long as you are in education. It is possible to take next to the normal SU that you paid for. It is one of the cheapest loans that you can take out when looking at what is to be paid in interest to have the loan. You can also wait to pay off the loan until you finish your education.
If you wait, then one year after graduation, start paying back the loan. It is also possible to use this loan for whatever you want – just like with the consumer and quick loans.
Explore your options for borrowing as a student
It is only recommended that you investigate the loan market before jumping into something. Instead of choosing the first and best loan you can find, consider what others can offer. If you are interested in one of the online loans, here you can compare loan providers with each other, and thus better create an overview.
Simply find our loan calculator here on the page where you enter how much you would like to borrow and a maturity, and then get an overview. It’s easy and completely free for you to do.