On the other hand. France also has a bit high living expenses. Therefore. if you are an international student who only has enough to cover the tuition fees. You may be asking if France offers loans for students. The answer is YES. And this post tackles everything to know about student loans in France.
Types Of Student Loans In France France offers different types of student loans, including the following:
Unsecured Loans – You can get an unsecured loan without security or collateral. Because of this, it is expected that unsecured loans have a bit higher interest rate. Private banks and NBFCs offer this type of loan.
Secured Loans – Compared to unsecured loans. you can only avail this type of student loan if you offer collateral for security. In a situation like this. You can use intangible or tangible assets, such as property, as collateral. However, the good thing about secured loans is that they have much lower interest than the first one.
How To Apply For A Student Loan In France If you plan to study in France. it is best to send a student loan application at least eight months before classes start. Here are the steps to follow to apply for a student loan in France:
- The first is to acquire an acceptance letter approved and noted by an educational institution.
- Have an approximate calculation of the possible cost you will spend on studying in France.
- Research everything you should know regarding the amount of loan you will need. Aside from that, it is also essential to look for public or private banks that offer loans for international students.
- Ask for their application form and fill out everything asked.
- Provide all the requirements and other documents.
- If you are applying for a secured loan, include things you want to use as collateral.
- Note the loan document after the bank approves your request.