Student Financing

Many people don't know, but nowadays thousands of public and private colleges offer their students many opportunities for courses and internal structures and this helps both the college and its students.

However, many of the paid colleges require a number of things and this ends up harming the study of many people who do not have the financial conditions to pay for these things and that is why student financing exists.

Do you want to know more about student financing and its information? So keep reading this article until the end, because throughout it you will have access to the main and best information on the subject, thus promoting a better understanding of it. So let's go?

What is student finance?

We all know that financing consists of a loan made by an institution so that you can purchase a good, where, in most cases, financing is provided by a financial institution.

Financing ends up being very advantageous for these companies, as they insert interest in the collection of installments from the beneficiary, thus creating a profit in the operation in question.

Also remembering that there are thousands of types of financing, such as cars, houses and many others.

When we are referring to student financing, we are talking about programs that follow the criteria of any other type of financing, but that provide credit to students in the amount of tuition fees for undergraduate courses, in part or in full.

It is worth mentioning that in the same way as other types of financing, in student financing, students have a fixed term in the contract for the service to be paid.

There are two types of student loans, namely: public student loans and private student loans. Below you will find out about both.

public student finance

In case you are not aware, the Fies (Student Financing Fund) is a loan that offers students from public schools and low-income students a chance to enroll in higher education at a good college.

It works as follows: as soon as the student is accepted at the private college and at the Fies, he pays the college expenses with the help of resources subsidized by the federal government, and can return the money to the government as soon as he graduates.

After graduating, the student must pay the loan amounts and also interest and monetary correction of the financing in question.

For you to be able to participate in and be accepted into Fies, you must have taken the Enem test. Furthermore, it is important to remember that the program is divided into categories, considering the participant's family income.

Thus, one category is indicated for family groups with up to 3 minimum wages and another, up to 5 minimum wages.

Private Student Financing

Unlike the option mentioned above, Private Student Financing consists of a personal loan made so that the student has a better chance of entering private higher education.

In the same way as in Fies, in private financing the student has access to a loan and then he must pay the expenses of his studies, returning the borrowed money after a while (considering the deadline imposed in the agreement).

In general, private student financing has many different factors when compared to Fies, among which we can mention: the deadline for paying off the debt, family income limits and participation in the Enem (which in most cases is not required in private financing).

Also remembering that funding can be full or partial.

In order to participate, you must first do the simulation, send your proposal and finally enroll. In most cases, private financing involves less bureaucracy than Fies (a Brazilian government program).