Student loans – student creditworthiness


Studies for young people are not only a time of constant play and meeting friends, but also a period in which they absorb huge amounts of knowledge and acquire new skills. Currently, education for pupils and students is free in most cases, unless we decide to study in absentia or at a private school. More and more young people are also leaving their hometown and starting their adventure with studying there. Hence – certainly considerable expenses that a young person must spend not only on education, but also renting an apartment, grocery shopping, textbooks or on new clothes.

Many young people wonder where to get the money for it. Many students who study daily rarely have any income from their employment contract. The source of income is usually a scholarship, money sent by parents, or occasional or part-time work.

Students can get additional money by applying for a non-bank loan. Currently, it’s the perfect way to patch a hole in the budget. These additional funds can be obtained very quickly, and all you need to do is complete your ID card.

Loans for learners

Loans for learners

A student loan is a very good idea in a situation when there is a shortage of money for current expenses, and the salary is not expected to affect your account in a few days.

Before submitting an application for payday loans, a young person must think carefully about the loan parameters and choose only the amount and repayment period he will be able to meet. The ideal offer is the first free loan usually granted for 30 days. A loan for USD 0 will not overburden the student’s modest budget. The terms of the free loan, however, apply only to new customers of the lender and to those who pay back the loan on time.

Today’s payday loans are an ideal option for getting extra money. In branches and on the Internet we will find many offers not only for young people, but also loans for retirees and pensioners. The client of the loan company chooses the loan amount and repayment period. Some companies willingly lend money to people from 18 years of age. An ID card is often not enough to take out a loan. In some non-bank companies, an 18-year-old must also provide a salary certificate. Lenders accept various sources of income. A young person does not have to have an employment contract to apply for payday pay. A document confirming income may as well be an invoice issued for a specific work contract or scholarship.

There are also many companies on the non-banking market that do not require any income declarations or other employment confirmations. To receive the loan, you’ll need your ID card, bank account, cell phone number and email address.

A student loan will be an irreplaceable help when you need one-off financial support. For example, in situations where you receive a bargain offer or a sudden random case.

  • Have you found an interesting Finnish language course abroad ?;
  • Did your car break?
  • Or maybe a friend wants to give you a place for training;
  • You change your flat and you need money for bail.

What is the student’s creditworthiness?

What is the student

Student loans can be granted by banks, parabanks and loan companies. A student who wants to raise additional funds has almost no chance of getting a loan from a bank. All of them, banks thoroughly “scan” applicants. They verify not only their credit history in credit check, but also the amount and source of income and the amount of monthly expenses. A person without a credit history and regular income is therefore not a reliable customer for them and must take into account a negative decision.

An alternative to a bank loan is to borrow money from a non-bank financial institution. Loan companies are definitely more open to the needs of less reliable clients and are happy to provide financing to the youngest clients. Also without credit history at credit check and regular regular inflows.

Non-bank companies look at the applicant’s overall income. The student’s income may be a scholarship, funds from odd jobs or money received from parents. It is a good idea to collect all such sources of financing – especially if they are regular. For the lender, the total amount of income earned by the student will be a key criterion when considering the application.


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