Student Loans FINS

The conditions for taking out the loan are very easy

• Be admitted to a university abroad
• Have citizenship of an EU member state
• Have no previous outstanding loans

Here you can say to yourself - but it also has loans offered by banks, what is the difference? Students who have been interested in such loans, unfortunately, quickly understand that banks cannot offer favorable conditions to a student: the borrowed amounts are too small for the needs of a student abroad, banks hardly agree to lend money to a student without permanent income, several guarantors are required, etc. The FINS financing system was developed specifically for the needs of a student abroad: the amount you can borrow is large enough, you get an individual financing offer and flexible repayment terms after you graduate, but not before.

With FINS financing, you can study in a bachelor's or master's specialty in any country in the European Union without needing a loan guarantor. In this case, the European Investment Fund is your guarantor. This makes the financing system extremely transparent. You can also take the funding for your studies in Great Britain (we all know how unfavorable the financial conditions there have become after Brexit) and Switzerland, but in this case someone close to you with a permanent income must become your guarantor, and all other conditions are the same.

Maybe you are already wondering how you can benefit and apply for this financing?

Study Buddy is a representative of FINS. We can help you prepare your loan application for free. Applying for it is similar to applying for a university - a diploma or academic reference, language certificate, motivation letter, CV and recommendation, university acceptance letter if already available, as well as a sample budget for the student's expenses are sent during study abroad. The FINS team examines your recommendation and makes you an individual offer, which you receive within 24 hours /and if you apply independently, the response takes 2 weeks/. After a few days, you have an interview with a FINS representative, after which, if you are satisfied with the proposed terms, you sign a contract and start receiving the loan. Upon approval of your loan application, a one-time fee of Є250 is paid to FINS.

Now you are probably asking yourself - what happens if I interrupt my studies and/or cannot repay the loan?

In the event that you decide to interrupt your studies, you only owe the amount you have taken up to the moment of interruption, not the entire amount that was agreed to be paid.

If it happens that you cannot repay your loan after graduation, it is possible to renegotiate the installments. For example, during the pandemic, when many students lost their jobs, some of them asked for renegotiation of terms and received it. In any case, the loan is repaid, so there are guarantors - the European Investment Fund if you study in an EU member state or your relative if you study in Great Britain or Switzerland.

We believe that with this new initiative, more and more students will be able to realize their ambitions and goals and receive a quality European education. It was developed by former students abroad who have personally encountered the problem of many students - finding funds for their studies.

A few quick facts about the FINS financing system

You can borrow up to Є25,000 for your bachelor's or master's degree abroad. This amount can be received both at once and in periodic installments (recommended).

The interest rate on the loan is between 9.5% and 11.5%, each applicant receives an individual offer, and with regular repayments after the grace period, you may receive a lower interest rate. Grace period (in which you can NOT pay) after your graduation: after bachelor programs – 6 months, after master programs – 12 months. During this period, only the interest on the loan and an administrative fee – Є15 per month are paid.