Learn How to Make Non-Guaranteed Student Financing – Knowledge Area
Requiring a guarantor can be a drag on financing. It is not easy to find anyone who wants to place their name as collateral for a debt, even when you are sure you can repay it.
Imagine then when the values in question will be responsible for graduating from college, when it is common for the student to have no fixed income! So, when it comes time to install a course, it would be interesting to be able to have a non-guarantor option, right? Because she exists!
No guarantor, the financing is right!
Entitled the Educational Credit Operations Guarantee Fund (Good Finance), the alternative uses funds from the National Treasury and securities transferred by Fies to participating institutions.
The fund can be used by students benefiting from Fies (Student Financing), whether:
- Financiers of the course fee only by Fies;
- or Prouni (University For All) partial scholarship holders who fund the rest of the amounts through Fies.
Students wishing for non-guarantor installment payments must also have a monthly family income per person of up to one and a half minimum wages. Those enrolled in undergraduate courses also benefit.
Good Finance resources are available to low-income students seeking student funding through Fies.
Good Finance acts as the guarantor, ensuring that the student needs to approve their funding. This makes it easier to get the required credit approval.
In order to obtain funding through Good Finance, the student must first verify that the institution in which he or she is a student of the program.
The option for installment payment can be requested at any time of the course, regardless of the month or the benefits already paid. The desire to use the sport must be submitted to the university, which will analyze the possibility of adhering to the application and approve or not the financing with the Federal Government.
Good Finance Advantages
Fies fans benefit from the low annual interest rate. By the end of 2017, contracts will bear 6.5% of charges per year of payment, while from 2018 they will range from 0% to just over 3%, according to household income per person.
Fies has the lowest interest rate on the market, so it is a great option even without a guarantor.
The term for debt repayment is also interesting. The trainee has a grace period to organize the finances and only then start the discharge of his graduation. In contracts made until this year, the period of 18 months; By 2018, payment should begin as soon as the former student is hired in formal employment.
In order not to compromise the income of the new professional, the installments may not exceed 10% of the debtor’s monthly income.