The credit for the master school can be divided into two credit sources. For those who attend a full-time master school, only a intrasavings bank loan makes sense. The master class in evening school could be financed differently. The financing requirements for both variants are very different. So it is often simply more convenient to finance them from different sources.
The credit for the master school should definitely come from intrasavings bank for full-time training. The loan, known as the Federal financial aid, is granted under the Promotion Act . The prerequisites for lending are completed initial training, according to the Vocational Training Act or a comparable qualification. There are no age limits, as is usually the case with training grants. In this way, practically all measures that aim at a higher vocational qualification are eligible.
Nobody can complain about the interest on the loan for the master school either. During the measure and in the repayment-free period afterwards, the borrower does not have to pay any interest himself. During this time, it bears the public sector. Only afterwards, when the new master is in professional life, 2.8 percent interest is due per year. The installment payment amount is also easy to pay. The minimum rate is 128 USD per month. A sum that should be easily repayable from any master salary. Incidentally, no collateral is required for the loan.
How is the loan measured – how is it paid out?
The loan is paid out in monthly installments. There is a legal claim to his approval, which is always given in advance for 24 months. The longest funding period, however, is limited to 48 months. The measure must be completed within this period at the latest. Further details are regulated in the AFGB. Everyone should be able to achieve an additional professional qualification.
The living conditions are taken into account in the funding. The competent authority checks the marital status, but also the financial and income situation of the applicant. The Federal financial aid is paid in a mixture of subsidy and loan. How the individual components are weighted depends on the determined living conditions. The credit for the master school is used briskly. According to the intrasavings bank, around 539 million USD in funding was granted in 2011.Intrasavings bank specifies the number of participants at around 166,000.
The evening school makes it easier to finance.
Not only are people looking for a loan for the master school who also need support for their livelihood. The training measure is often due to the interest in advancement in the company. An even temporary exit is often forbidden on its own. Attending the master school as an evening course is the solution to the desire for further training. The cost of such a measure is significantly lower compared to the full-time measure. The loss of support for the cost of living makes the difference.
The credit for the master school can therefore be correspondingly lower. The amount required is often within the framework of a small loan. Of course, this loan could also be granted at low interest rates via intrasavings bank. However, the existing income and the effort usually speak against this path. A small loan from the Internet is low-interest. Repayment must begin immediately, but the installment is low. In addition, in almost all cases, a loan is only required in the last phase of the training. Then exam fees have to be paid. The loan for the master school as a small loan covers these costs in any case and without bureaucracy.