Month: December 2019

Student loan – check when it pays off

by Sharon Garcia

Student loan is a beneficial form of financial support for students and PhD students. It is granted regardless of the type of university you attend - whether it is public or private - and study mode (day, extramural, evening). It is an attractive and the cheapest type of bank loan available on the market.

Who can get a student loan?

Who can get a student loan?

From January 1, 2019, there were changes in student loans. They were introduced by the law on higher education and science.

Currently, students can apply for a student loan:

  • students under 30 years old,
  • doctoral students who are under 35 years of age,
  • applicants for admission to the university or doctoral school (before signing the loan agreement you must submit to the bank a certificate from the university confirming that you are a student or doctoral student).

If you have completed your studies, you cannot apply for a loan for further studies at the same level - unless you have not previously used a loan at this level of education and you meet the age requirements .

Other conditions you must meet to get a student loan are:

  • net income per family member not exceeding 2.5 thous. zł,
  • surety for loan repayment by parents - if the parents' income is too low, you can apply for a surety for Loan and Credit or ARiMR.

Student loan repayment guarantee - what is it about?

Student loan repayment guarantee - what is it about?

When applying for a student loan, you must indicate a guarantor, i.e. a person who will, if necessary, settle your obligations. Parents are usually guarantors. But what if they have too low income or you are unable to identify a guarantor? You can apply for a surety from Bank Loan and Credit or the Agency for Restructuring and Modernization of Agriculture.

Loan and Credit can guarantee a student loan for:

  • 100% capital - if the income per person in your family is up to PLN 1,500,
  • 90% of capital - if the income per person in your family is up to PLN 2,000.

However , only students residing in a rural area can apply for a student loan guarantee in ARMA . Depending on the amount of income per person in your family, the Agency can guarantee up to 80% or up to 100% of the loan amount used. You will receive a 100% guarantee for capital if your family income does not exceed PLN 1,000. 

Student loan - up to how many years?

Student loan - up to how many years?

Student loans may be paid to students for a maximum period of 6 years, and in the case of doctoral students - for a period of 4 years. It is paid in monthly installments for a period of 10 months in each academic year. The tranches are not launched during the summer holidays.

What is the student loan amount?

In the student loan you can apply for the amounts: 400, 600, 800 and 1000 PLN. The amount of the monthly financing tranche is set by the Minister of Science and Higher Education.

Their total sum cannot exceed 60 tranches for students and 40 for doctoral students. You can receive a total of 60,000 zlotys if you are a student or 40,000 zlotys if you are doing a PhD.