Thursday, 10 July 2014

Depreciation student loan

Repayment of student loans drawn by five years Masters followed standard 12 years after graduation. Provided, however, a situation in which a loan may not be repaid in full using partial or complete remission. Who and when can take advantage of this kind of redemption?

Standard repayment

The Act of 17 July 1998 on student loans and credits assumes that the student loan repayment begins after the expiration of two years from the date of completion of studies by the borrower. As the repayment period determined period of not less than twice the period in which the payment was charged. For student loan granted for the first year of a five year master, it is actually repaid after 12 years. This period consists of two years grace period after graduation, and is twice the period of his collection - in this case, 2 x 5 years. It is worth noting at this point that the student loan may be repaid earlier. This will happen as long as the borrower zawnioskuje for a shorter term of repayment obligations.

Terms of redemption

Repayment of loan taken student may be redeemed in whole or in part. The basis for such redemption, among other good results graduation. About 20% debt reduction can be applied for students who graduated in the top 5% of a group of graduates of the year the university. The redemption of this type is granted at the request of the borrower, which must be accompanied by a certificate from the university confirming the result achieved a higher education. Bearing in mind the current amount of student loan (paid by 5 years) can be saved in this way 6,000, respectively.

The loan of this type can also be canceled in the event of a difficult situation of the borrower and the permanent loss of the ability to repay obligations. If the borrower was in a difficult situation, it is possible partial redemption of the loan amount, but it can be even completely canceled in the event of permanent loss of ability to repay obligations - disability confirmed by appropriate decision. In both cases, remission shall be granted at the request of the borrower, and made ​​them the Minister of Science and Higher Education, after consulting the Committee for Student Loan.

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