Credit for education (Sberbank): feedback

The Diploma of Completed Higher Education opens wide opportunities for young people to build a career. Most Russians since Soviet times believe that higher education is the key to prosperity and prosperity. However, in modern Russia, not everyone can enroll in a higher educational institution. There are not enough budget places for everyone who wants, and tuition fees are beyond the power of most people. In this situation, financial institutions are ready to come to the aid of applicants or already enrolled students, providing a loan for education. Sberbank, whose program will be discussed, also works in this sphere of services.

What is an educational loan?

In the West, the practice of supporting students has been open for a long time and enjoys constant success among young people. More than half a century, various student loan programs, including foreigners, some of which may include, in addition to tuition fees, small scholarships for the entire period of study. Most lending programs abroad are supported by the state in cases of need. Thus, more than a quarter of all students of foreign universities study in debt.

In general terms, a loan for education is a target consumer loan with a special repayment schedule. The term of the loan depends on the period of study and exceeds it by 5 years. For the duration of the training, a delay in the payment of the body of the loan, and sometimes even interest on it, is provided. The interest rate on such loans is usually below the average rate on consumer loans. Borrower of such a loan can become from the age of 14, which is a feature of the service. The bank will require additional guarantees, such as collateral or guarantee of third parties, as well as written permission from the parents. The loan can be received for the entire period of study in accordance with the agreement with the educational institution, and can be differentiated according to the schedule of payments, that is, the bank transfers funds to the account of the educational institution in parts for each year or semester of education. The second option is preferable, since interest is not calculated on the whole amount at once, in case of premature termination of training, the borrower does not have to pay the full original cost of the loan, but only a portion, according to the recalculation at the initial rate. This must be reflected in the contract. The bank may need additional justification for a successful study - a certificate of a successful semester and no debts. Often an agreement with a bank prescribes the possibility of obtaining academic leave for students and the corresponding postponements of loan terms and the recalculation of interest on the loan.

Peculiarities of educational crediting of PJSC "Sberbank of Russia"

In the Russian financial services market, among educational loans, the programs of one of the leaders in the banking sector of PJSC "Sberbank of Russia" favorably differ. Taking into account the state programs of support of crediting of students of some specialties, among the banks that provide loans for education, Sberbank provides the best conditions. The lending rate is from 13.9%, which is one of the lowest compared with other consumer lending programs. The loan is issued only in rubles for a period exceeding the period of study for 10 years. Sberbank is ready to pay the full cost of training or the remaining part for payment, regardless of the income of the client. There is a "mitigation" for interest payments for the first and second years of the loan, the main debt is required to be paid after 3 months from the end of the training, regardless of the successful completion of the diploma. That is, even after failing and completing the training ahead of schedule, the client has time to find an additional source of income to repay the amount given out on credit for education. Sberbank thus divides payments on the loan for 2 periods: the first period is the entire period for granting a deferral of payments (term of training and 3 months) and provides for the payment of only interest on the loan, with payments in the first and second years being 40 and 60%, respectively; The second period provides for the payment of the loan body together with the incoming interest equal (annuity) payments.

The loan can be provided as a one-time transfer of funds to the account of the school, and parts of the credit line, according to the contract. In the second case, it may be necessary to provide documents confirming the successful completion of the training stages, and additional signing of attachments to the agreement with the bank Sberbank. The loan for education, the terms of which do not provide for any commission, or insurance, is secured by a pledge or a guarantee of third parties only in the event of a large loan amount. If payment deadlines are not observed for the remaining debt under the loan, a penalty rate of 20% per annum is charged.

Clients of educational programs

Borrower of the educational loan of PJSC "Sberbank of Russia" can be any student of the educational institution, that is, the bank requires confirmation of enrollment in the educational institution on a fee basis, on the basis of which a targeted loan for education for students is issued. Sberbank lends not only students of higher education institutions, a loan can be taken for any paid training in educational institutions that have appropriate accreditation for training activities. Students of evening and correspondence courses also have the opportunity to avail themselves of lending services, on a par with the students of day departments. The age of the borrower must be at least 14 years, for minor clients, additional written consent from legal representatives, as well as permission from the guardianship and trusteeship authorities for the right to use a loan for education, will be required. Sberbank excludes the care of persons under guardianship, in accordance with the federal law "On guardianship and guardianship".

The program of state support of students of higher educational institutions

The Ministry of Education and Science has been experimenting with student support programs for several years. Credits with state support can be obtained for training in more than a hundred universities, a wide variety of specialties. Agreements with several banks have been signed, including with the Savings Bank, loans for education are discussed in the article. An attractive feature of a loan with state support is a reduced interest rate according to the refinancing rate of the Central Bank of Russia and an additional 5 points. For example, under the student loan program of PJSC "Sberbank of Russia" the state will assume the obligation to pay half (7.5%) of the rate for using the loan. The Borrower will be obligated to pay only the remaining 7.5% of the rate to Sberbank. The loan for education on such terms corresponds to foreign equivalents.

Sberbank of Russia - a guarantee of stability for the majority of Russians

In general, the attitude to PJSC "Sberbank of Russia" for more than a hundred and fifty years, the clients have developed quite positive. No exception is the program that provides students with credit for education for students. Sberbank, whose reviews underscore one of the lowest lending rates in Russia, provides an opportunity for education for low-income segments of the population, as well as the opportunity, regardless of the help of relatives, to get the necessary education for the adult working borrowers on their own. Payments at the beginning of use are not too high, while they discipline the borrower and are preparing to fulfill the basic obligations for the loan in the second repayment period, when together with the interest you need to pay the loan amount.

Service is not "at altitude"

Of the negative feedback, most of the complaints about the quality of work in certain departments of the bank prevail, mainly due to the insufficient professionalism of the staff that provides loans for education in Sberbank. Reviews often say that lending to students and the state support of such programs is a rather new direction of services not only for consumers but also for the banks themselves, this is natural, so there are some problems with bank specialists who are easier to formalize a standard consumer loan, rather than go into details of specialized Programs. Several reviews underscore the failure to meet the deadlines for the consideration of documents, in fact, in some regional branches of the bank, which again confirms the lack of awareness of the staff or deliberate reluctance to work with the new service, providing a loan for education for students. Sberbank, whose comments we are interested in, to solve problems with registration and in order to avoid delaying the process of issuing loans and penalties from the institution for delay in payment, strongly advises you to contact the higher management or the customer support hot line, as the difference between the usual consumer loan and The target loan for education is quite appreciable.

Impact of crisis

Interesting reviews were left by users who already received a loan from Sberbank for education with state subsidies during the economic crisis. For several months such students were trained on pain of immediate payment from the educational institution, because banks did not have the means to secure credit obligations. Part of the banks' obligations were temporarily afforded by the universities themselves. As a result, the situation with the training of students who fell into this difficult situation, were resolved positively, the educational institutions completely fulfilled the educational services announced in the contract, despite the interruptions in payment.

Perspective

Quite young yet, programs for lending students in Russia can have a good development, relying on the experience of foreign student support systems. Analysts see a good future for such types of lending, which, along with a stable economy and state support, can give the country a lot of trained and independent experts. Taking into account the demographic rise, caused, among other things, by the state policy of supporting the birth rate of the last decades, the future of educational crediting is just around the corner. Sberbank as a participant in the state student support program and as an independent lender on standard credit conditions is currently the most profitable partner for the majority of those wishing to obtain higher or professional education on credit.