Student Financing: the best credit options to complete higher education

Student financing has helped thousands of people enroll in university or complete a degree. Read on to find out how it works!

Most Brazilians dream of attending college. With a higher education degree, it's easier to find better opportunities in the job market. 

However, this dream comes at a price and many people cannot afford it. 

With the student financing the student has the opportunity to make this wish come true. 

In this text, you will discover how this credit model works and the best banks to apply.

Don't miss it! 

What is student finance?

This financing works like a loan. A financial institution releases the funds to cover university costs, and the student who applied for the loan repays the amount in installments. 

The main objective of this program is to promote easier access to higher education, therefore, its main target audience is people who cannot afford to study at a university. 

In this type of credit, all parties benefit according to their objectives, for example:

• The student can fulfill his dream of attending college;
• The financial institution profits from the interest on the financial product;
• The university gets more students.

To make a good deal, the future student must understand how this product works and choose the best option for their budget and their future. 

One of the models of student financing public best known is the FIES, which is managed by the Ministry of Education

However, there are also private student loan alternatives, which are alternatives subsidized by private banks. 

How does student financing work?

As mentioned earlier, this financing works like a loan. It's like a mortgage, but instead of a house, you're paying for your college education. 

Although it's a debt, it should be viewed as an investment, as a professional with higher education has access to better job opportunities and higher salaries. 

Furthermore, it stands out from the rest and is easier to hire. That's why so many people want to hire you. student financing. 

Because they know it's an investment that will yield future rewards. The debt won't last long, and you can pay it off as your earnings increase. 

The operating process may depend on each bank; in some cases, it is only possible to finance part of the cost of college. 

In addition, the deadline to start paying the loan may also vary, in addition to other requirements. 

The public and private factors can change how this program works.

For example, in FIES, the annual interest rate was close to 3.4% per year, while in private banks, this interest rate could reach 28% per year, as in Bradesco.

To better understand how it works student loan and make the most economical choice for your pocket, check out a list of the best options for this product below.

What is the best student financing option?

The dream of attending college and graduating is closer than you think! In this topic, you'll find some loan suggestions for this purpose. 

Don't miss it!

#How does FIES work?

FIES is the main public student loan fund. It's the most economical alternative, offering a zero interest rate. 

Therefore, it becomes the main alternative for students, generating great competition, forcing those who were not selected to look for other suggestions. student credit in the private network.

Among the rules for applying for FIES, we find, for example:

• Have taken the ENEM and obtained a score equal to or higher than 450 points;
• Not having zeroed the essay;
• Have a gross family income per capita of up to three minimum wages.

With the new FIES, it is possible to obtain zero interest and the level of financing can vary depending on the candidate's family income.

Payment will also be personalized and tailored to the student's financial circumstances. 

Registration must be completed through the website gov.com.br. Get all your questions answered on the Single Portal Access to Higher Education. 

#Fusionamento Estudante BV 

At BV, this product is offered in partnership with Pravaler, a digital platform with financial solutions for education. 

With this credit, students can finance an undergraduate, postgraduate or even MBA degree. 

Among the main features of the BV Student Financing, we can highlight, for example: 

• No bank account needed;
• The process is 100% online;
• It is possible to finance the full amount of the monthly fee;
• Installments do not accumulate;
• There is no limit to the number of places.

This loan is interest-free at some institutions, only subject to monetary correction. Otherwise, the student begins paying back the loan while studying.

You can also finance each semester for at least twice as long. This makes it easier to stay on track and avoid overdue payments.

The contraction process takes place in 5 steps, which are:

1. Simulation;
2. Proposal;
3. Documents;
4. Contract;
5. Process completed.

To register and run a simulation, access the BV website.

#Faissudent Financing (FIES)

At Caixa Econômica Federal you can enter college through FIES, as this bank is the sole agent for the program.

Students with a family income of 1.5 minimum wages may be entitled to zero interest. 

In modality I of the New FIES, the grace period extends until the completion of the course, meaning that the financing will only be paid after graduation. 

It's worth noting that the installments will respect each applicant's income limit. An important point about the program is that you can enroll in an educational institution with excellent MEC ratings.

Just because it's a loan doesn't mean you'll have to study at a bad university or one with questionable teaching methods. 

Registrations must be made on the FIES Selection website. 

# Santander

This option of student financing It's an alternative for those entering the healthcare field. With Santander, you have up to double the time to repay your loan.  

Among the main features of this financial product, we can highlight that:

• It is possible to renew financing each academic term;
• Interest rate from 1.82% per month;
• The installments are discounted directly from the customer's Santander account;
• The financing amount is sent to the university in a single installment;
• Exclusive for new monthly payments in the contracted semester.

Student loans taken out by Santander are only available to students on eligible courses from the fourth monthly payment onwards.

Eligible courses are:

• Medicine;
• Pharmacy;
• Nursing;
• Dentistry;
• Animal Science;
• Veterinary;
• Biomedicine;
• Physiotherapy;
• Speech therapy;
• Nutrition.

You can run a simulation on the Santander website, with the minimum financing amount being R$7,000.00 and the maximum amount being up to R$180,000.00.

In addition to this product, Santander has other lines of banking and financial services aimed at university students.

#Banco Bradesco

Bradesco also provides a model of university funding. The interest rate applied varies according to the agreement between the bank and the university. 

It is possible to pay the amount for each semester in up to 12 installments and the first installment is only due 30 days after signing the contract.

The maximum financing amount can reach up to R$1,400,000.00, depending on the university.

Access the Bradesco portal and start your simulation by entering the university where you want to study. 

#Fusionary financing from Banco Itaú

Banco Itaú's product is also offered in partnership with Pravaler. Student financing can be used to enroll in university or pay tuition fees for current college. 

How many people do you know who had to drop out of college due to a lack of money to pay tuition?

Maybe it has happened to you, so this loan can be a great alternative for those who don't want to let their dream of graduating die. 

See below some features of the student financing offered by Itaú:

• Process 100% online;
• Lowest market rates or the possibility of interest-free financing;
• More time to pay;
• Biannual hiring;
• Payment in 12 installments or more;
• Installments do not accumulate;
• Hiring at any time of the year.

One of the main advantages offered by Pravaler is that it is possible to obtain financing even if you have a scholarship or other student financing.

#Fundacred student financing

Fundacred is a nonprofit organization that has been operating in Brazil for over 50 years. Its main focus is educational loans. 

Among the education-focused credit services offered by this institution, CredIES works as a student loan. 

This service does not apply an interest rate, nor is a credit analysis carried out, so even those with negative credit scores can apply.

However, the student must have one or more guarantors. There are certain rules regarding guarantors, such as not having a negative credit history or being in a civil or stable relationship with the student.

Simulation and contracting can be carried out on the Fundacred portal.

Conclusion

A lack of financial resources doesn't have to be an obstacle to realizing your dream of attending college. 

With the student financing, it is possible to achieve your goals, however, it is very important to carry out financial planning and evaluate which is the most economical alternative. 

Ideally, you should start by applying for a FIES program, considering the fact that it's interest-free. If you're not selected, look for the cheapest alternative with the best payment terms. 

Read also: Credit card that releases high limit.