The first higher education in Russia is still officially free. However, is this always really the case? In order to enter a university, school knowledge is often not enough. Applicants go to paid courses, pay a tutor, and in the end, with considerable difficulty, enter the desired faculty, but on a commercial basis. If the parents are unable to pay for the child's education, then they have to take out a loan for study.
Many people want to get an education, but not everyone is able to pay a lot of money for it. For some students, their parents agree to pay for their studies, while others are simply not able to do so. Often, taking out a student loan is the only way out for young people who want to get a quality education.
In Russia, this seemingly convenient practice is not widespread. Why is that? The fact is that few banks issue such loans, moreover, the interest on an educational loan is very big. And this immediately scares off most potential student loan consumers. They can be understood: there is no diploma yet, but there will already be a big debt on the student loan.
These problems plague both students and banks. Students are wary of high interest rates charged by banks. Banks are also reluctant to issue loans for education, because there is no guarantee that the money will be returned, and very large amounts are spent. Analysts believe that in the event of a long-term stable situation in the economy, this problem would be resolved, since the uncertainty in each other would disappear both among banks and among consumers of loans.
In order to ensure greater security, banks are introducing a new model of student loans, in which the required amount is issued not immediately, but in parts. Thus, students are insured against inflation, when the amount issued by the bank may not be enough to pay for tuition if the university raises the fee, and banks insure against the fact that the money can be given to the student in full, and he, after studying for a short time, abandoned education, but the loan cannot return for training.
But even such models are not always suitable for consumers of educational loans. Typically, banks issuing student loans require some source of income or a solvent guarantor. But, if earlier practically only Sberbank was engaged in credit for studies, now the number of banks issuing loans for studies has increased markedly. This credit market is not yet sufficiently developed, but the situation is already becoming much more acceptable.
In Europe, the situation on the educational lending market is more encouraging. Interest rates there range from 1.5% to 4%, while in Russia you simply cannot find a loan for a study with a rate of less than 16-20%.
