The course begins for thousands of students who apply for scholarships from the Ministry of Education, as well as other institutions. But in addition, for all students of private universities there are different educational loans that allow them to pay for the academic year, the entire degree, maintenance or expenses derived from the study. Unlike financial aid, the money borrowed must be returned in full, just like any other type of credit.
In order to apply for them you must meet the requirements, since they offer advantageous conditions and are only accessible for studying at the university. The two main ones are that you can get a lower interest rate and longer repayment terms than for other purposes. These credits are much more common in Latin America, where it is the government itself that offers financing to students. Something that is not the case in Spain, where there are no guaranteed loans from any public entity.
Therefore, students looking for a loan to study at university with advantageous conditions have to obtain information from the different financial entities. There are also private universities, not all, that have agreements with banks to speed up procedures. To be able to request it, you must be of legal age, present the registration formalized at the study center, demonstrate the ability to return the import through your own income or that of your parents, reside in Spain and not appear in a non-payment file. These are some of the best loans to pay for college in 2023.
BBVA educational loans
BBVA bank makes two modalities available to students to finance their degree or master’s degree. The first is a loan for studies beyond two years intended to cover the expenses derived from the academic year, accommodation and transportation. The import ranges between 3,000 and 75,000 euros to be returned in a maximum of 96 months.
The second consists of a loan intended for studies of less than two years, aimed at clients between 18 and 30 years old with financing needs to complete a master’s degree or other type of studies. The minimum import is 1,000 euros and the maximum is 75,000 euros. They have no opening fee and it is necessary to be a client of the entity.
Educational loans from Santander
Banco Santander has the largest offer of credits to study, whether in Spanish or foreign universities. Firstly, they offer up to 12,000 euros of financing to pay for tuition, living expenses and other expenses. They also give the possibility of financing the entire degree, up to 80,000 euros. And finally, a loan for those under 31 years of age with a maximum of 60,000 euros to be repaid in up to 7 years. The latter is intended for students, but also for university staff.
In addition, it provides funding for Research Projects and mobility programs to study abroad. They all have an opening fee and offer bonuses if one of the parents is a Santander customer.
Wizink Training Loans
This is one of the best options to finance studies in terms of economic conditions. You can request, digitally, between 3,000 and 30,000 euros to be returned within a period of 12 to 96 months. There is no opening fee or ties, since payments can be direct debited to any bank account. In addition, you can choose the payment day (the 5th or the last of the month) and add insurance.
Ibercaja University Tuition Loan
Within Ibercaja’s youth loans we find this modality aimed at students between 18 and 30 years old who need financing to pay tuition. The interest rate is customizable depending on the profile of each client. You can request between 1,000 and 15,000 euros to be returned in one year. Fees can be paid monthly or quarterly.
CaixaBank Studies Express Loan
In this entity you can get between 1,000 and 30,000 euros of financing with a nominal interest rate that can be customized depending on each client. The return period is between 6 and 12 months. It is necessary to be a client of the entity and the opening commission is 1%, although it does not have amortization, cancellation or study commissions.
Banco Sabadell Course Credit
This financing is interesting due to its low interest rate (Euribor + 2.25% TIN), but the maximum amount is 5,000 euros, so it normally does not even cover the cost of registration. It can be returned within a maximum period of 12 months. It has no study, opening or cancellation commission.
