It is known that studying at university costs a lot. Italian families spend an average of 1345 dollars per year on taxes. Considering also accommodation, transport and books, it is possible to reach an outlay of almost 10 thousand dollars in the case of an off-site student. High figures, prohibitive for many families. Furthermore, scholarships are few: in Italy only 12% of students benefit from them. It is not surprising, therefore, that our country is in last place in Europe in the rate of transition from high school to university and first in terms of dropout rate.
Loans of honor for students: Features and Benefits
Concrete help to finance our or our children’s university education can come from credit institutions. In fact, numerous banks have activated ad hoc “honor loans” for young people who want to study but do not have the means. These personal loans – usable for university fees, post-graduate masters, mobility, residence and training periods abroad – present advantageous conditions compared to other types of credit, in particular:
- low interest rates and even very long time for repayment;
- they do not require personal or third party property guarantees;
- possibility to wait up to 2 years from the end of the studies, without further interest, before starting to repay.
Some of these honor loans are granted by merit, therefore a certain rate of studies must be maintained to avoid the interruption of the credit line.
The fund for the study
Among the specific funding opportunities for university studies, we highlight the one offered by the “Study Fund” established at the Prime Minister’s Office – Department of Youth. It is a loan guaranteed by the state (in the measure of 70%) for a maximum amount of 25 thousand euro, for enrollment in the university, to attend post-graduate specialization courses or to deepen the knowledge of foreign languages.
Students aged between 18 and 40 who are in one of these conditions can apply for access to the fund:
- be enrolled in a three-year or single-cycle degree course, in good standing with the payment of university fees and in possession of a high school diploma with a mark of at least 75/100;
- be enrolled in a master’s degree program, in good standing with the payment of university fees and in possession of a three-year degree with a mark equal to at least 100/110;
- be enrolled in a first or second level university Master’s Degree, in compliance with the payment of university fees and in possession of a bachelor’s or three-year degree, respectively, with a mark of at least 100/110;
- be enrolled in a specialization course following the attainment of the single cycle master’s degree in medicine and surgery with a mark equal to at least 100/110 and in good standing with the payment of university fees;
- be enrolled in a research doctorate abroad which, for recognition purposes in Italy, must have a three-year legal duration;
- be enrolled in a language course lasting no less than six months, recognized by a “Certifying Body”.
The sums are paid in annual installments provided that at least half of the exams required by the study plan of the previous year have been passed. It is possible to repay the loan in a period varying between three and fifteen years and the repayment begins the thirtieth month after the disbursement of the last installment.