Sberbank education loan

Higher education is an attribute of a successful life. It will help you get a good job and make a career. But there are not enough budget places for everyone, and the cost of paid education is growing every year. Abroad, it is customary to save for the education of a child from infancy. In our country, the only way to give a good education to your children is a loan. Sberbank has been the undisputed leader in lending for many years.

Conditions

The following loan terms are currently in effect:

What documents are needed?

Sberbank has provided two packages of documents, depending on the age of the borrower. For minors, the list has been expanded.

The list of documents that must be provided to all clients:

an agreement with an educational institution for the provision of paid services;
passport;
registration. If the borrower does not live by registration - a certificate of temporary registration;
A completed application form;
details of the account of the educational institution, to which, in case of a positive decision, the money will be credited.

Additional list of documents required if the borrower is under 18:

passports of legal representatives;
written permission of legal representatives or consent of guardianship authorities;
birth certificate (in the absence of a passport).

Obtaining and repaying a loan

The term for consideration of an application for a loan for the education of a child in Sberbank is 4 business days. It is provided in non-cash form, by transferring funds to the account of a citizen or educational institution. It is issued only at the place of residence of the client or at the location of the educational organization.

Funds can be provided in a lump sum (if only one semester is required) or in installments. In the latter case, payment is made for each semester of study.

The loan is repaid in accordance with the payment schedule, which is divided into two parts:

Grace period. At this time, only interest on the use of the loan, which must be repaid in monthly installments, is payable;
period after the end of the grace period. The loan is repaid in full monthly equal amounts.

According to existing legislation, the loan can be repaid ahead of schedule in full or in part. To do this, just go to Sberbank, write an application and pay the required amount. The amount of early payment can be any, no commission is charged.

Important! In case of non-fulfillment of its obligations to the bank, penalties are applied to the borrower. They amount to 20% of the amount of the overdue payment.

How to choose an educational institution?

Money can be issued for higher or secondary vocational education. In order for an educational institution to be approved by the bank, a tripartite agreement must be concluded. The parties are: Sberbank, an educational institution and the Ministry of Education. The Sberbank website (http://www.sberbank.ru) has published a list of educational institutions that have already entered into such agreements. Today it has 181 establishments. To be included in this list, a university or college must be accredited. To do this, the following documents are submitted to the bank:

tripartite agreement of the established form, signed by the Ministry and the educational institution;
documents giving the right to carry out educational activities (license);
documents confirming the right to sign an authorized person on the part of the university.

Pros and cons of education loans

Before deciding whether you need an educational loan, you need to weigh all the pros and cons of this product. So, this loan has a number of advantages:

low interest rates;
the ability to change the faculty or form of education;
approval of large loan amounts. This makes it possible to pay for education even in the most prestigious universities of the country;
a grace period for payments. Due to this, the main part of the loan is paid after receiving a diploma, when a citizen is already working;
the possibility of early repayment;
minors can act as borrowers;
the possibility of paying by borrowed funds the full cost of education;
fast processing of the application;
no commissions during registration and the need to purchase an insurance policy;
state support;

However, educational loans have a number of disadvantages:

Loan calculator

Let's assume that the cost of education is 385 thousand rubles. Loan term is 10 years. The amount of the monthly payment in this case will be - 4570 rubles. Approximately half of this amount is the principal debt, and half (2300 rubles) is interest for using the loan. Since there is a deferred payment of the main debt during the training, the monthly payment will be:

For the first year - 2300 * 60% = 1380 rubles. The total amount of overpayment on interest is 16,560 rubles. (1380*12);
For the second year - 2300 * 40% \u003d 920 rubles, and the amount of overpayment is 11,040 rubles. (920*12);
During the remaining years of study (assume that the full term of study is 4 years) - 2300 rubles. The overpayment for using the loan will be 55,200 rubles. (2300*24);
Considering that in the first years the principal debt was not paid, the amount of the monthly payment in the next 6 years will be 6,657 rubles, and the overpayment of interest will be 94,282 rubles;
The total amount of interest paid for all years will be 177,082 rubles. (16560 + 11040 + 55200 + 94282).

This is only an approximate calculation, the exact calculation of the loan can be found on the official website or at the branch of Sberbank when applying.

Government subsidies

State subsidization of targeted loans for education began in 2010. This program has made learning more accessible. Started as another government experiment, it has gained popularity and has become permanent since 2014. State subsidies compensated not only for interest costs, but also covered funds for unpaid loans, which reduced the risks of banks to a minimum.

However, in 2017 there was an optimization of the product. Sberbank, which at this point is the only credit institution issuing preferential loans for education, has temporarily suspended the issuance of such loans.

Important! Now educational loans for students with state participation are provided by Sberbank only under agreements concluded before 2017. Since January 2017, new applications are not considered. However, in this case we are talking only about the temporary suspension of the issuance of loans. This is also supported by the fact that today Sberbank does not provide for the issuance of an educational loan for other programs. The terms for consideration of new applications directly depend on the Ministry of Education, which is preparing amendments to legislative acts. It is expected that new educational loans at Sberbank will be issued before the start of the next academic year.

Other bank programs

While the main product does not work, money for training at Sberbank can be obtained in two ways:

Get an education loan without government support. It is issued under the same conditions, only you need to pay the full rate - about 15%;
Get a consumer loan. It is not a target, so the rates for it will be much higher. Issued for a period of up to 5 years, the maximum amount is 3 million rubles. The final interest rate is affected by the amount and term of the loan, the presence of guarantors. You can calculate the exact rate on a loan using an online calculator on the Sberbank website. But even with the best deals, the minimum interest rate is 12.9%. Another disadvantage of this option is the requirements for borrowers, which are difficult for students to meet. This is the presence of work and work experience of at least 6 months. Only adults can apply for this loan. It is possible to obtain a loan with a short work experience, only 3 months. But in this case, the guarantee of the parents is also required.

Despite the existing shortcomings, Sberbank's educational lending is one of the most popular banking products. The state subsidy program has made education more accessible to all segments of the population. It remains to be hoped that after the government makes changes to legislative acts, Sberbank will resume issuing educational loans on the same terms.