In order to be successful in professional life, further education is easy for many people. Especially if the next career step is planned or if a career change is pending, it may make sense to refresh or expand existing knowledge beforehand. This is not only possible through an extra-occupational evening study, but also part-time or full-time study courses can be used. Even language trips are often recognized as a further education measure.
Educational loan: Further education can cause high costs
Anyone who wants to change their career or take the next step on the career ladder has to prove that they have the required technical knowledge. This is often only necessary through a course or study with a degree. In addition to a lot of time, which in any case makes use of such a measure, there are often also the comparatively high costs involved, which have to be financed. If the employer has an interest in having their own employees reach a higher level of qualification, they may be able to contribute to the costs and even free the employees from work during the training. The salary will continue to be paid in these cases, meaning that no financial losses have to be feared. On the other hand, if the employer does not provide support or if the qualification is to be carried out in another area, the costs themselves must be covered. In addition to the fees for training courses and study material, loss of earnings often has to be compensated in these cases.
Tip: Inform yourself in advance about the amount of costs and fees, in order to better estimate the financial expense.
Financing training by installment loan
If the cost of continuing education can not be financed from existing savings, the conclusion of a loan is appropriate. As a rule, these are given as installment loans and repaid in constant monthly installments . Depending on the bank, such loans can already be between 500 and 1,000 euros and thus allow the financing of smaller amounts, If necessary, however, higher loan amounts can also be taken. In any case, borrowing is indeed an investment in the future, because with completed training can often be adopted a much higher endowed position, which is also associated with a higher income. The banks also know that and are very happy to grant loans for further education. As with any other loan , however, a credit check is also carried out in advance to verify the applicant’s creditworthiness. Only if there is a monthly income, the loan can be forgiven, Due to the low loan amounts, however, only a small income is sufficient for the financing.
Tip: Check in advance whether the educational loan can be approved. This is possible online via the loan application pages of the banks. Here, based on your data, a preliminary check will be carried out within a few minutes.
Plan the financing exactly
Before a loan is taken, applicants should plan the financing carefully. First, it is important to list all the costs involved. In addition to the costs of courses and courses, it is also important to also calculate money for learning materials and books, In addition, many courses are not directly at the place of residence, so that travel and possibly accommodation costs may be incurred. The sum of all costs is finally the necessary financing requirement. If this is fixed, it can now be checked how much money can be used for the monthly loan repayment. Here it makes sense to carry out a budget and compare all income and expenditure. If studying is done part-time or full-time, it is important to consider the loss of earnings so as not to get into trouble later. Remains money for the monthly repayment , the loan can be taken. Which loan amount or termThis should be checked online with the help of credit calculator . After entering the desired loan amount as well as the maximum loan installment, you will see the duration of the financing.
Find cheap continuing education loans online
Since people who undertake further education often have little time, borrowing via the Internet is a good option. Despite time constraints, however, it is important to conduct a credit comparison in advance, because only it indicates where favorable financing can be completed. Whether a loan cheap is demonstrated by looking at the annual percentage rate. It not only shows the interest payable on loan, but also includes any costs and fees to pay. By stating the total costs, only he makes the credit comparisonreally possible. In many cases, credit comparisons can even be made directly via the loan calculator, which saves time. If the suitable credit for further education has been found, it can be applied for directly. For this purpose, interested parties are forwarded to the page of the respective bank and can the applicationCompletion. If the application has been filled with the personal data and the amount of income, the banker checks immediately whether the financing can be presented. In the case of a positive preliminary check, the application can finally be printed out and forwarded to the respective bank together with the required documents. Here is a final audit of the documents and after two to three days, the money is available in the account.
To subsidize the further education state
Germany is very keen for citizens to take advantage of continuing education courses and do something for their future. So that such a project does not fail because of financial hurdles, special promotional loans are offered, for example from KfW Förderbank. In order to be able to use these, however, the respective valid conditions must be met, because not every job can support any further education measure. It must also be a full-time education. To find out which conditions apply, take a look at the KfW website . Here it becomes clear whether a state subsidy or a low-interest loan can be applied for. Should the promotion If KfW is not sufficient, it is also possible to combine the two loan options and to finance further training in this way.