Loan for the student residence

The summer is over for many students who are either studying for a secondary education or are about to start higher education. And in connection with this, most young people have a lot of extra expenses for eg books, PC, study trips and relocation, and especially the last can be both time-consuming and expensive – if you are so lucky that you find a place to live at all. It is popular to apply for admission to a college, but there is also a lot to offer when it comes to one-bedroom apartments, single rooms and shared apartments.

 

On their own legs

student loan

Certainly it is no cheap pleasure to have to move, and it is not unlikely that this is the first time you have to stand on your own legs and find out what is really meant by it. It may be your first own home and therefore you will not be able to repay an amount from a former landlord. So you have no deposit / deposit / prepaid rent for the first three months that you get repaid and which you could have used as a deposit in the new home.

 

Online loans can help

Online loans can help

More and more people are taking advantage of popular online loans when they need to spend their money here and now. The online loans have the advantage of being granted fairly quickly – ie. after a maximum of 1-2 days after you have applied for the loan. You decide for yourself what the loan should go to and when the loan should be repaid. It is very different what amount people want to borrow, but if you are a student you could perhaps look for loan providers for how much you can borrow.

 

Speed ​​- a force for you

Speed ​​- a force for you

With such an amount in the back, one can get a long way in his home search, and the smart thing about it is that you do not have to apply for the loan long in advance, as a consumer loan is typically granted within a few days, maybe hours. Therefore, you do not have to pay interest unnecessarily long.

Loan opportunities and your age

Your age matters when you need to borrow money. If you are under the age of 18, it is not possible to borrow money anywhere. However, even if you are of age, your specific age will still be important. If you want to borrow money through your bank, they will certainly, in addition to your financial situation, also assess your age. Here, older people who have reached retirement age may find it difficult to borrow. This is because the bank will be as confident as possible in getting the money back. Therefore, they will consider that the risk of older people not being able to repay is too high, as their income is primarily relatively low and is not expected to increase. Second, they are at an age when it is unknown how many years they have left and thus how many years they have to repay the loan.

 

Online loan providers are also looking at your age

Online loan providers are also looking at your age

It is not only the banks that assess a person’s loan options based on their age, but also the many online loan providers use age as one of their most important parameters. If you are between the ages of 18 and 20, you will have very few loan providers to choose from if you are 20 or older. If you are 25 years of age, you can choose freely in the market between all the loan providers. If you are close to filling either 20 or 25, it may be an idea to wait to borrow, as you will soon have far more options.

 

Loans as a pensioner

Loans as a pensioner

Although the various online loan providers appear to be going up a lot in age, in turn they do not write anything about an age restriction at the other end of the scale. Therefore, it seems immediately that you can borrow from them no matter how high up in the years you have come. However, there is no guarantee as each application is assessed individually. If your bank thinks you are too old to borrow, you may still want to consider applying online.

Stock Exchange: Turn down the SU and up for student loans

The ordinary resident student gets about 5,900 in SU before tax per month. In addition, students can take an SU loan of just over $ 3,000 a month. It is the epitome of a life of luxury. This position is expressed by the editor-in-chief of Boyet Andrews Jensen in the newspaper’s editorial Tuesday.

He believes that the finances are wrongly distributed and that “the money can be spent better elsewhere”. Instead, more focus should be placed on student loans, because even though students get debt by taking loans for the study, it still gives students flexibility. They have the opportunity to wait to start repaying their loans when, after completing their studies, they enter the labor market and receive a fixed income.

The interest rate on SU loans is relatively low and you can wait up to two years after completing your education to start repaying the loan.

 

Attention must be directed to the labor market

labor market

The editor-in-chief argues that we must follow the example of our Nordic friends – Norway and Sweden -. The Norwegian and Swedish students are also paid a high SU, but not at all as high as the Danish ones.

Instead, greater focus should be placed on getting the wheels started in the labor market, because, as the government has proposed, the employment tax deduction must be raised and the percentage of top tax reduced – Løkke and co. just couldn’t find the money for it. So in order to finance those initiatives, you have to cut into the SU, says the editor-in-chief.

 

Can all parties be satisfied?

student loan

Many believe that the Danish students are privileged, and many of them probably also take the relatively high SU rate for granted. There are not many students around the world who are even getting “pay” to study, just as Anders Krab-Johansen more or less also plans.

On the other hand, he also writes: “The amount is money from the state for consumption, be it beer, pasta, books or a new computer”. He immediately overlookes the fact that the young people also have a lot of fixed expenses that need to be financed first and neither has anyone’s nose passed by that the prices of housing, both owner-occupied and rental housing, are quite high in the big cities . Only a few have low housing costs.

At the same time, there is a desire for study to be considered a full-time job, and therefore not everyone can be given time for a study job. They may have a desire instead to take a Sabbath year where they can save, but that is contrary to the Progress Reform. In any case, it rewards only the “fast” students. You can think of one and the other as you like, but if nothing else, it seems a bit of a difficult task to be equally pleased with the parties involved. If this can be done at all.

Students and SU loans

There are many students who owe money through consumer loans and mortgages, but there is another option that is preferable if one wants more financial freedom in everyday life. Here are some of the benefits students can enjoy if they invest in SU loans over other options.

 

Danish young people receiving SU can usually also apply for a loan

Danish young people receiving SU can usually also apply for a loan

An SU loan is not like other types of loans that you can otherwise take in the bank or online. For example, you are not asked how the money is to be spent or what you want to provide as collateral, since it is assumed that the loan is for pure consumption, and you know that there is nothing concrete to provide for a security beyond your young age. So, as a student, if you want more freedom and time, an SU loan can be a really good alternative to a student job, and certainly better than expensive consumer loans in the bank, or quick loans at online banks.

 

Not having to meet many requirements to get the loan approved

Not having to meet many requirements to get the loan approved

there is also the advantage that SU loans are often much cheaper compared to ordinary loans in the bank. An SU loan is often at an interest rate of approx. 4% annually, during the time you are a student. A typical consumer loan in the bank can easily be at an interest rate of between 7% and 13%, and at other online banks, you can risk an interest rate of around 20% if you are very unlucky. So if you look at the interest rate alone, it might be a good decision to choose SU loans over the other loan options. In addition, you only have to pay interest on the amount that is paid on an ongoing basis. So even if you plan to borrow 100,000.00 – for example, you only have to pay interest on the amount that you are paid on a regular basis. This is not normally the case with ordinary loans, where you pay interest on the entire amount immediately, so that the interest rate is to a much greater extent something to include in your accounts.

 

Another benefit of SU loans

Another benefit of SU loans

Another benefit of the SU loan is that one does not have to start repaying until the study has ended. In fact, the repayment must only begin on January 1, one year after the end of the year in which you completed your education. This means that you probably have a good opportunity to find a job before you start paying back.

However, just remember that SU loans differ from other loans in that you cannot get a large amount of money paid out at once. SU loans are paid out in small sums on an ongoing basis, with the maximum in 2013 being 2.943, – per month, so this is not the solution if you want a large amount paid off quickly.

A little unusual, it is actually pointed out by Nordea’s consumer economist Anne Lucas that there can be great advantage in borrowing money through SU loans even if one does not stand and need the money. You just have to put them aside and leave them until you finish your studies. You may think that you should not borrow money you do not need, but if you know you will spend money on an apartment when you finish studying, then you can just as well finance it, by the cheapest loan solution available. This may be an opportunity future and current students may want to consider before embarking on other more expensive loan solutions.

Online payday loans that pay off

With modern online payday loans, you have the opportunity to make good trades – that is, trades you can make money from. A quick trade is not to get in the way, but unless you just stand and have the money, it requires a quick loan. One of the popular online payday loan qualities is precisely speed – your loan application is often completed already the day after you submit it, sometimes even after a few hours.

 

Acquisition and resale

Acquisition and resale

One of the things you can do quickly is to buy designer furniture, refurbish it and resell it for a profit. Furniture designed by the great Danish furniture designers such as Allan Jebsen, Vernie Campton and Paul Kramner holds the price, but it is clear that if the furniture is not in as good condition as before, then the price falls, and then it is that you must hit and buy.

 

Make money from your hobby

Make money from your hobby

Renovating the shenanigans will cause the price to rise, but of course it requires you to have your carpentry hug without having to be trained in this field – it can also be a hobby. If this hobby is maintained, you may be able to make money from it, but of course it requires that you calculate the repayment period and match it to the term of the online payday loan.

 

The profit swallows the interest expense

The profit swallows the interest expense

To make the best deal, it is important that you find the loan that suits you best – read more about loans in general here. If you take out a loan of $ 40,000 for two months, the interest expense on the loan will be very limited. And if you buy and refurbish the furniture over two months with a cost of materials of $ 1,000, you may be able to sell the designer furniture for $ 45,000, and you suddenly have $ 4,000 in hand, as you will on your next loan will be able to use for new designer furniture. As you make more and more trades, you will be able to afford to invest larger amounts and thus make more money. And in the end, you will no longer have to borrow the money.

 

Many benefits of borrowing money online

Many benefits of borrowing money online

In addition to speed, online payday loans have many other qualities. It’s easy, as you sit at home behind your computer and enter your information that you submit online. You can decide for yourself on your loan and determine how long the maturity should be. And then there is no bank advisor to stop you from executing your ideas and businesses.