Taking a student loan for European University

There are scholar students who can not afford education or due to currency limitations many students can not go for higher education in other advanced countries. Or in some European countries the non European students have to pay double the tuition fees. In such situations they can be supported in the form of student loans, grants, aids or scholarships.

For many student loans parents or any co signer is required in case of default. But some universities give scholarships without any such conditions.

In some European countries the government assists the students for their education in the form of grants, in some as student loan and in others both these sources are available.

In United Kingdom students loans are not like commercial loans. They are given by the government to pay the tuition fees. The loan for tuition fees of any amount is sanctioned and the loan company directly pays it to the education institution. The interest rates on student loans depend on the rate of inflation. So that the student has to pay exactly the same amount that was taken for education. Separate types of finances are available from the government for part time and for full time students. The loan can be repaid after the completion of education or when the borrower is earning more than £15000 per year.

There are various types of loans for students: loans for UK students, loans for professional studies, loans for international students, loans for MBA, CA, ICWA, engineering, MS, medicine; loans for post graduation and loans for career development.

Many banks provide student loans for studies abroad in general. The banks can be from the student’s own country or the banks at the place of study. Generally for the loans from the local banks require documents like proof of admission, mark sheet of the last qualifying examination, borrower’s bank account statement, proof of income, brief statement of liabilities and assets, income tax assessment order of last 2 years and schedule of expenses. Student loans are available for all those courses for which the employment prospectuses are there.

Loans are available for tuition fees, library fees, laboratory fees, buying books or equipments or computer, security deposit and travel. The amount of maximum possible loan given by every bank is different. The repayment generally has to start within 6 months after the completion of the said course. This period is called as the grace period. The loan generally has to be repaid within 5 to 10 years depending on the amount of loan and the bank.

There are tax benefits for the education loans in Europe. The tax benefits are available for the education loans taken for self, spouse’s or children’s study.

Many study loans from private banks are available. Students can get more than one loan to complete their studies. At the end or during the education all the loans can be brought under one policy by taking a consolidation loan. For consolidation loan the repayment period is longer and hence the interest rate is lower. There can be collateral like house against the consolidation loan. Lower interest and fixed rate, single and less monthly installment and single policy are the benefits of consolidation loan.

Famous Banks of World

The most beneficent bank which is very helpful for student to get there Loan in easiest way and also fast procedure I recommended you in following list….

In USA
1. Bank of America 3. HSBC Bank
2. U.S. Bank 4. City Bank
5. The Bank of New York 6. Fleet National Bank

In UK
1. Barclays 2. Royal Bank of Scotland Group
3. Northern Rock Bank 4. HBOS

In Australia
1. National Australia Bank 2. Commonwealth Bank of Australia
3. Colonial Bank 4. St. George Bank Limited

In Germany
1. The Advance Bank 2. ABN AMRO Bank Germany
3. American Express Bank 4. Deutsche Bank

In Japan
1. Hokkoku Bank 2. Hokkaido Bank
3. Hokuto Bank 4. Joyo Bank

In CANADA
1. Bank of Canada 2. Big six banks
3. Royal Bank of Canada 4. National Bank of Canada
5. CIBC

In CHINA
1. People's Bank of China 2. Bank of China
3. China CITIC Bank 4. Huaxia Bank
5. Minsheng Bank

In ITALY
1. BPU Banca 2. Banca Nazionale Del Lavoro
3. Mediobanca 4. Banca Popolare di Milano
5. Banco Monte dei Paschi di Siena

These banks are providing the easiest facility for school and collage student. Please contact above bank.

4 Step to get Student Loan

Step 1: Fill out the FAFSA (Free Application for Federal Aid) or Renewal FAFSA.
This should be done as soon later than January 1st as possible. The government uses the FAFSA to ascertain your eligibility and determine how much it believes you and your family should contribute to your education based upon income, assets, liabilities, size of present household and number of family members currently presence college. The FAFSA is accessible online at www.fafsa.ed.gov. Full fill the online form is faster and prevents many of the common errors associated with the usual paper form.

Things you will need:

* Income tax returns (or close estimate)
* W-2 forms
* Current bank statements
* Mortgage information
* Investment records
* Driver's license
* Social Security Card
* At least 2 hours time (with your parents if applicable)

Renewal FAFSA
Keep in mind to apply for financial aid each year. The good news is that once you have done the FAFSA once, you only need to complete the renewal FAFSA, which is shorter than the original form.

Step 2: The SAR -- Receive and analysis you’re SAR (Student Aid Report)
The SAR should arrive about four to six weeks after you put forward the FAFSA. Your SAR contains your "Expected Family Contribution" or EFC. Your schools (which also have a copy of your SAR) will use it to determine your eligibility for various types of financial aid. From this they will make a Financial Aid Award Letter.

Step 3: Collect and review Award Letters from schools you specified on your FAFSA application
Each school's financial aid office will use the SAR to make a Financial Aid Award Letter which will show the type and amount of aid for which you will be eligible at that school, together with Stafford Loans.

Step 4: Responding to Award Letters
Act in response to an Award Letter as instructed by the school will begin the student loan method. You will get either a Student Loan Worksheet or a Master Promissory Note to complete for your loan. Make sure to choose SNB, lender code 809081, as your lender.

Collage Students loan

Searching for the right college loan

The first function of consolidating your college loans agreements with choosing the lender with whom you will file. It is very easy to check back with your school to find out what lenders work with the kind of loans you have and through the institution.

Since lenders are competitive, you stand to save in the thousands with their little interest rates and borrower benefits packages. If you are still within the loan’s grace time you can get the finest rates possible, but even if you are not you can still find a great contract. Federal loans sometimes have yearly time limits for consolidation but private loan consolidation can be done any time. Prefer the lender that offers the good deal for your financial condition and be sure to read all fine print, you do not want to face further charges that you signed up for without knowing.

Paperwork for the college loan consolidation application

You will require having all your official procedure handy on the time of applying for college loan consolidation. You will have to provide information on the loan types, balances and holders. Of course they will need information about the school and the time period in which you were in studies. The lender will also ask you about your present financial and employment position. You will need to give present contact information for employers as well as some references (usually professional).



Some benefit for collage students who get the student loan


* Competitive interest rates
* Reasonable monthly repayments
* No hassles
* Easy and secure application form