Credit for education: worth it or not?

To date, high-quality education - not a cheap. As you know, pricing in higher education are quite high, and to pay for tuition is not all. That is why many think of the opportunity to take an education credit. True, that and the problem that simply thinking, and until the loan is often the case does not reach. Statistics in recent years shows that among the applicants received a paid form of education, only 5.3% used the loan funds. So that the West has long been a norm in Russia is found only on an exceptional basis. And like in past years, the situation began to change, even the authorities have made this their hand. In 2009, about the prospects of educational credit and said Prime Minister, spoke about the new lending programs and the president himself. As a result, the banking sector is waiting. May still in Russia will burst educational boom and then the people will be pulled into the banks, as in the whole civilized world, analysts argue. Who knows, maybe it will be so, but for now is to understand that banks are willing to offer if, for example, tomorrow we want to take credit for education? That banks offer? That demand, as we know, breeds supply. Meanwhile, banks that offer education loans, you can count on one hand. And it is not only a lack of attention from potential borrowers, but also high risks they face. After all, no one can guarantee that completing high school, the student will be able to find a paying job. In the West, in this case comes to help the state, but we do not have any government guarantees repayment of the loan. And what can we say, in Russia in general the system of paid education was formed relatively recently. On the other hand, domestic banks are quite high interest rates. Perhaps the most forgiving interest only program of concessional lending (about 5% per annum). In general, the pattern of educational loans is waning. In reading the terms and conditions of bank lending, we can conclude that the average interest rate of approximately 13-15% (sometimes more), and payment terms sometimes are barely 5 years, which creates many problems for those wishing to lent. However, despite the deferral of principal, not all students can afford to pay interest. For comparison, in the same U.S. money for their studies provide a 3-6% per annum and you can return them within 10 years after graduation. The same time limit and return valid in Germany, however, the interest rate it even lower, about 2-5%. And in Sweden and did a term repayment of the loan is not restricted, and it is under 1,5-2% per annum! But obtaining the loan to prevent the formation of not only high interest rates and short-term lending, a problem also creates a security (guarantee, security of property). True, in some banks a limited amount of money can take, and without the surety (usually up to 200-300 thousand rubles).. In addition, many credit institutions is the practice of charging loan fees and for his service. Thus, the "Credit Europe Bank" fee for service is 0.65%, and one of the Commission's proposals for the issuance may be up to 5% (at least 7 thousand rubles).. In the Russian Development Bank "fee for service - 0,95%, while in" Baltic Bank "- 1%, while for the issue will have to pay 1.5 thousand rubles. But in the "NA-bank" a minimum percentage of Committees for the issuance of 0.5%, maximum - 2%. Maybe at first glance, the sums and seem insignificant, but still counting on a pocket hit. As a result, it appears that this loan program can come only to those young people who can attract a co-borrower or guarantor, as well as those who have a source of income at the time of study. Credit conditions in the theory is pretty simple. Receive credit for education may be of any Russian citizen who has attained 14 years of age and who wishes to obtain higher education, vocational education, an MBA, etc. However, in practice much harder. Already nor for anybody not a secret that the issue of educational loans made primarily for training in public or accredited universities with high status. However, banks willing to lend to these universities not only because of their status. Everyone knows that the cost of tuition at public universities is much higher than commercial. This allows banks to obtain higher returns than if they "were working with little-known educational institutions. Thus, according to figures released at the beginning of 2010, prices for the most expensive in the capital of the specialty of Economics and Management "looks at public universities like this: MSU - from 220 thousand rubles. to 320 thousand rubles., HSE - from 196 thousand rubles. to 313 thousand rubles., MGIMO - 250 thousand rubles. up to 294 thousand rubles., Finance Academy - 200 thousand rubles. to 274 thousand rubles., MESI - from 97 thousand rubles. to 168 thousand rubles., MSTU. Bauman - 107 thousand rubles., MFYUA - from 69 thousand rubles. to 98 thousand rubles. Now let us compare the prices of commercial high schools: The Institute of Business Career - 54 thousand rubles., Russian Academy of entrepreneurship - from 52 thousand rub. to 55 thousand rubles., Moscow Institute for the Humanities - from 32 thousand rubles. up to 32.8 thousand rubles, Modern Academy of Humanities - from 27 thousand rubles. to 48 thousand rubles. As a result, the lender as it certainly suggests that the meaning of pay for training at "cheap" schools do not. However, the attempt is still worth it. After all, this form of lending, no doubt, there is one distinguishing feature - a deferred principal repayment until graduation, which in itself is important. In addition, some banks are even prepared to defer interest payments on the loan. Credit can be obtained after entering the university and to provide certain documents (passport, certificate of income upon receipt of the second higher education, a copy of the agreement on provision of educational services, an invoice, etc.). The Bank may also ask for support: co-borrower, which will be jointly and severally liable for the loan or grant bail to the property. If the request is granted, the bank will transfer money to the university or to a special bank account opened by the borrower. However, before using a traditional form of educational loans, it makes sense to try to get credit for other loan programs, offering more convenient terms of the transaction. Lending program few people know that in addition to bank offers, and there are several programs that benefit from services other than credit institutions. Subsidized or subsidized education One of the most universal forms of student loans. During the period of study in high school and three months after the end of the state subsidizes the bank interest rate. As a result, the student, it is not more than 5% per year. And, on the first and second year of using a credit student pays only a portion of the interest rate: 40% and 60% respectively. But most interesting is that no collateral or guarantee is required. Compared to other proposals, we can conclude that this program really works for aristocratic environment. It is true that rely on such a loan may only exemplary students. First of all, those who are good student with the education demanded by the economy and the occupations listed in the status universities. And then, after graduating from high school (one month) the borrower must provide a bank certificate confirming the assignment of his qualifications. By the way, despite the fact that the state provided an opportunity for any bank to participate in this program, banks are in no hurry to agree to this experiment. At the moment, the main participant of this program is "Savings Bank". The program "Credo" is another good option loans offered by "Crain", developed several years ago, the program "Credo." At this time the program runs in 22 leading universities in the country, including Moscow, St. Petersburg, Tomsk, Novosibirsk, Nizhny Novgorod and Rostov-on-Don. Its main differences from bank loans is to simplify the registration procedure, low rates and long repayment. Distributed "Credo" for students of day and evening divisions, study "specialist", "Bachelor", "master". That is such a service can take advantage of the vast majority of students. Also, as in the case of preferential loans, the borrower is the student himself, as collateral and are not required. Payments will be made only after graduation in equal monthly amounts, however, if desired, a year after signing the contract the student has the right to begin early repayment. The loan amount to the cost of training., And the interest rate of 10% per annum for 10 years. Remarkably, all students, students in this program, the company "Crane offers special seminars, meetings with employers, internship programs and employment assistance. List of universities are credited to "Credo": Moscow State University. MV Lomonosov Moscow State University, St. Petersburg State University, Plekhanov. Plekhanov, MSTU. Bauman, Academy of National Economy under the Russian Government, HSE, MGIMO (University) MFA Russia, RGAU-MAA them. KATimiryazev, MAI, MEI, MISA, Moscow State Mining University, Moscow Engineering Physics Institute, Gubkin Oil and Gas. Gubkin, MIPT, MESI, Engineering, Finance Academy under the Government of the Russian Federation, Nizhni Novgorod State University named after NI Lobachevsky, Southern Federal University Siberian Federal University, Tomsk State University. The result is that, of all the options you can select a program of preferential credits and the project "Credo." However, due to a number of these restrictions, even these suggestions may not take all comers. Thus, the concessional lending is designed primarily for honors, and "Credo" offers its services only in the leading universities in the country, and, overwhelmingly, in the capital. Incidentally, a similar argument guided and banks offering credit for education. Very important for them to protect themselves, and prestigious university, as in any way, is a kind of guarantor. Add more to this mandatory guarantee, high interest rates, relatively short term loan, and then get the overall picture of what is happening. Is it any wonder that the educational loan and has not received in our country wide distribution? Moreover, we can even assume that the situation is unlikely to change until the government is not seriously take up the reform of this market segment.