Credit for Education, Training and Retraining.

 This is how you get a loan Education is an investment in the future and not all training is available for free, so for many the question of a loan for private training or a credit for further training arises.

Credit for pilot training

Credit for pilot training

Contrary to what is known from consumer goods loans, the so-called education loans are either about financing the livelihood while studying or paying the costs of the training. One of the most expensive training jobs available in Germany is the pilot job. Training to become a pilot costs up to 70,000 USD and not everyone has 70,000 USD on the high edge to pay for the training. Therefore, a loan for pilot training is quite common and is already offered as such by renowned flight schools at particularly favorable conditions.

However, anyone who wants to become a pilot and who finances the training with a loan should be aware that they will need employment afterwards to be able to repay the loan. No collateral is required for this loan. The term can be extended to 15 years, the first 2 to 3 years are repayment-free.

Become financially flexible with an education loan

Become financially flexible with an education loan

In addition to the very expensive pilot training, there are many normal courses at German universities and colleges, which are either free of charge or where tuition fees have to be paid per semester. If you want to take out an MBA loan or a second degree loan, you can apply for a KfW education loan if certain requirements can be met. These loans are used to finance living expenses during your studies. They, too, will only be repaid after completing their studies and are free of repayments.

A student loan is always appropriate if the parents do not want or cannot provide the necessary financial support and there is no entitlement to BAföG. Those who take out a loan for further training have the advantage that they do not have to worry about financing their livelihood through part-time jobs and can concentrate fully on their training or studies. This can bring time advantages, which then pay off by being able to complete the course within the standard period of study.

Relaxed writing the doctoral thesis with a loan for doctorate

Relaxed writing the doctoral thesis with a loan for doctorate

It is becoming increasingly common that doctoral students cannot find a permanent job at the university, so it is hardly possible to write a doctoral thesis on the side. On the other hand, there are degrees, particularly in chemistry, where you will not find a permanent job unless you have a doctorate. In such cases, a promotional loan can be just the thing. Due to the mostly good creditworthiness of the doctoral candidates, it is quite likely that a loan will also be granted on request.

Fund the master school with a loan

Fund the master school with a loan

A credit for a master school enables further training at work and can also be completed without financial problems. As a rule, the master school must be self-financed, in addition, it is advisable to take a shorter professional career during the training to become a master. With the appropriate credit in the back, the master school can be relaxed.

Retraining credit and retraining credit

Retraining credit and retraining credit

Two terms that are almost the same but still have a significant difference. Anyone wishing to undergo retraining that is not financed by the employment office because the educational institution is private must pay for retraining out of their own pockets. But not everyone who wants to retrain is able to finance the costs alone. In such cases, an educational loan can be applied for, which can also be easily approved if the creditworthiness is appropriate. This loan can be used to finance the cost of living during the retraining.

However, the situation is very different if someone who is retraining wants to take out a loan during retraining in order to finance any consumer goods. As a rule, banks are not considered creditworthy during full-time retraining because there is no salary. This means that a loan during retraining for consumption purposes is usually rejected unless you are able to include a solvent guarantee in the contract.

Posted inUncategorized

Leave a Reply

Your email address will not be published. Required fields are marked *