Loans without paychecks for students and university students

Young people are a particular category for banks and credit institutions because they require small loans and do not have any guarantees. Yet, in recent years, there are many banks that provide in the rich range of their offers financing plans usually dedicated to individuals between the ages of 18 and 35 years.

The loan of honor for university students

 The loan of honor for university students

Among the types of funding aimed at young people stands out the loan of honor for university students. This is a form of financing that provides preferential repayment terms and above all a much simpler access to credit. Why? The applicant does not necessarily have to possess demonstrable income. Moreover, with the loan of honor, the presence of a guarantor or a co-obligor is not necessary.

This type of loan allows university students to benefit from a sum of money on a current account for a period that varies according to the study plan. In fact, the amount will be used to pay a training course, such as a master’s degree or even a degree course, and all other expenses, such as textbooks, renting accommodation and study trips.

There are also the financial institutions that provide loans to students and who have an agreement with the universities. They present a deferred repayment plan over the years and subsidized rates.

Beyond the family income, the student who wants to obtain a loan must have certain requirements for obtaining the loan. The regular enrollment in the course is also essential, as well as an average of votes that is higher than a set threshold. It will be the institute that has an agreement with the university to verify the presence of the requisites and decide, therefore, whether or not to grant the amount.

The loan of honor is considered advantageous compared to the other types of funding aimed at students: to make access to credit simpler it is the presence of agreements between banks, universities and specialization schools. The loan will be repaid only at the end of the course of study. Therefore, compared to the other types of financing, the times are more dilated.

Studio Fund – Right to the Future: a guaranteed loan for deserving students

Giving young people access to bank credit is equivalent to ensuring the social inclusion of the new generations. Through these forms of funding, students can more easily access the world of work and complete the training program.

From these assumptions the Studio-Diritto Fund to the future is born: a guaranteed loan for deserving students . With the decree of November 19, 2010, the Presidency of the Council – Department of Youth today Department of Youth and Civil Service – has expanded the scope of operations of the Fund for Youth Credit established at the same Presidency in 2007.

The Fund – as indicated on the official website of the Department of Youth and Civil Service – with a current budget of € 19 million aims to provide the necessary guarantees to enable young people deserving to obtain funding for university enrollment or post-graduate specialization courses or in-depth study of the foreign language. Young people who meet the requirements set by law, to access funding guaranteed by the Fund, must complete the application form , attach the required documentation and go to the affiliates of the sponsors of the initiative.

Studio Fund: the recipients of the loan

 Studio Fund: the recipients of the loan

Applications for access to financing guaranteed by the Fund entities which have an ‘aged between 18 and 40 years and that they are alternately in one of the following situations:

  • be enrolled in a three-year or specialized one-cycle degree program, in compliance with the payment of university fees and in possession of a high school diploma with a grade of at least 75/100;
  • be enrolled in a master’s degree program, in compliance with the payment of tuition fees and in possession of a three-year degree with a score of at least 100/110;
  • be enrolled in a first or second level university master’s degree, in compliance with the payment of tuition fees and in possession of a three-year or specialized degree, with a score of at least 100/110;
  • be enrolled in a postgraduate course following a one-cycle master’s degree in medicine and surgery with a grade of at least 100/110 and in compliance with university fees;
  • be enrolled in a research doctorate abroad that, for the purposes of recognition in Italy, must have a three-year legal duration;
  • be enrolled in a language course lasting no less than six months, recognized by a “Certification Body”.

The high school diploma must be obtained from:

  • an Italian school, public or private, authorized by the Ministry of Education to issue qualifications of legal value in Italy;
  • a foreign school authorized by the Ministry of Education to open a branch of the foreign institute in Italy and qualified to issue qualifications with legal value in Italy.

The three-year undergraduate, graduate, post-graduate and master’s degree courses must be held at:

  • Italian universities, public or private, or high schools of university teaching authorized by the Ministry of University and Research (Miur) to issue qualifications of legal value in Italy;
  • Foreign universities or high schools of foreign university education authorized by the Ministry of Education to open a branch of the foreign institute in Italy and qualified to issue qualifications with legal value in Italy

The Certification Body must be qualified as such in a measure, protocol of understanding, or administrative act in any case called, issued or of which a Public Administration is part.

Fund of study: the characteristics of the loan

Methods of disbursement of the loans eligible for the Fund guarantee:

  • The loans are cumulative up to a maximum amount of 25,000 euros (twenty-five thousand / 00 euros) and paid in annual installments, for an amount not less than 3,000 euros (three thousand / 00) and not more than 5,000 euros (five thousand / 00 euros) .
  • The installments subsequent to the first, are provided upon presentation to the lender of the registration of the following annuities of courses and Masters and the passing of at least half of the exams (university in addition to the Master and language courses?) Provided by the study plan relating to previous years.
  • Where university or language courses have a multi-year duration, the lender grants the loan in its total amount and provides for the payment of the installments (in compliance with the minimum and maximum amounts contemplated by the Interministerial Decree of 19 November 2010) on an annual basis, for a number of years not exceeding the legal duration of the degree course, the master’s degree course and the language course (or in any case not exceeding the remaining years for completion of the course, given its legal duration, where the request for admission to the grant coincides with the registration for a year following the first).
  • The rate applied and the conditions of the financing are established by the individual banking institutions within the parameters allowed by the agreement between the Department of Youth and the ABI.
  • The repayment of the loans is to be made in a period between three and fifteen years.
  • In any case, the loan amortization plan can not start before the thirtieth month following the disbursement of the last installment of the loan.
  • The lenders undertake not to ask the beneficiaries for additional guarantees in addition to the guarantee provided by the state.

The guarantee of the Fund is granted in the amount of 70% of the underlying exposure to the loan disbursed for the principal amount, time in advance, within the limits of the eligible loan, for which Consap – which Manager – has given positive approval, of the charges deriving in accordance with the provisions of the Memorandum of Understanding and any contractual interests calculated to an extent not exceeding the legal rate in force on the date of granting of the guarantee and of default.

The banks and financial intermediaries that have joined the initiative, can carry out the operations of disbursement of loans guaranteed by the Fund by signing with the Department of Youth and Civil Service special agreements, whose standard layout was established in the Memorandum of Understanding between Department and Italian Banking Association (ABI) on May 18, 2011.

Loans for students and university students: new promotions

 Loans for students and university students: new promotions

There are several promotions for students for 2018/2019.

  • Bnl university student loans : the product takes the name of Discount and Praise . This is a fixed rate loan to finance your studies. The interest rate of your loan may vary according to your university average. The BNL Sconto & Lode Loan is part of the range of loans made available by the Bank to meet the needs of young students. These loans are intended to finance a course of studies, universities and / or masters, and must be assisted by a third party guarantee or by other guarantees deemed appropriate by the bank. The BNL Discount & Lode Loan is a product that provides an interest rate that can vary annually in relation to your university average, according to a predetermined rate grid, according to the modalities defined in the contractual and economic conditions.
  • Io Studio Postepay : it is the Student’s Charter created by the MlUR – Ministry of Education, University and Research – and distributed to high school students. The new Student Card has been enriched with the Postepay card payment features: you can make purchases in all the shops and on all the websites of the Visa / Visa Electron circuit and you can withdraw up to 1,000 euros a year from all the ATMs Postamat and Visa. In order to offer greater security, payments to merchandise belonging to merchandise categories (MCCs) such as gambling, adult services, liquor sales, cigarette distributors have been inhibited. It is the only Student Card that allows access to the offers of merchants affiliated with the MIUR related to services and facilities for museums, cinema, telephony, internet, technology, books, school materials and travel, dedicated to students. It makes you automatically and automatically subscribe to BancoPosta discounts, to benefit from special discounts at thousands of affiliated shops throughout Italy.

The LoStudio Postepay Card is free and is distributed directly by the school secretariats to all secondary school students. The activation service of the card payment function, accessible from the IoStudio Portal, is temporarily suspended. If already activated, the Card can be used for payments and withdrawals at the Visa and Visa Electron business centers and sites, it can be recharged at all post offices, Postamat ATMs, on the postepay.it site, at the Sisal receivers and from SIM PosteMobile enabled.If you have already activated your prepaid card you can recharge it free from the post office and from the Poste sites until 31 December 2018. Also on this site you can recharge another IoStudio Postepay for free. At any time it is possible to transform the IoStudio Postepay card free of charge into a Postepay nominative Standard version and to extend its functionalities: it is sufficient to be of legal age and go to any post office with an identity document and social security number.

  • Findomestic (School and Studies) is the form of loan to cover school expenses, fund university studies or specialization courses or to attend a master’s degree. You can get a cash loan for the purposeful purchase of a good or service not covered in the specific financing section.

Loans for students without income and paychecks

 Loans for students without income and paychecks

There are also financial products for university students who can not offer any kind of guarantee. It is therefore a matter of young people without income and without a paycheck. These loans are provided through the agreements signed between the individual bank and a specific university.

  • Banca Intesa San Paolo : the loan is called PerTe Loito Con Lode . It provides a credit line that finances your expenses until the end of the studies. The amounts are disbursed to the account several times. At the end of the studies you have time to return the amounts received. The maximum repayment term is 30 years. No asset and personal guarantee for loan application.
    • Unicredit Bank : the loan is called UniCredit Ad Honorem and does not need guarantees. You can have a UniCredit current account credit line of up to € 27,700 for a variable period depending on the course of study, after this period, the amount of money used together with accrued interest will be transformed into a personal loan. Once you have completed your course of study you will be able to:
      • Apply for the “grace period”, for a maximum duration of 2 years, before starting to repay the loan and during which no further interest will accrue.
      • Start repaying the loan from a minimum of 12 months to a maximum of 180 months.
    • Banca Mediolanum : the Mediolanum product is called M4U Academy . It has an agreement with the Luigi Bocconi University and no guarantee is required. You can know at the beginning the amount of your installment because the interest rate is fixed at 4.5% for the entire duration of the loan. You have up to 10 years to repay the loan.

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