A student’s life is not cheap. As a student, for example, you spend a substantial amount of money on groceries, rent and study each month. It sometimes happens that students cannot make ends meet. The amount they receive in student finance and income from a part-time job is just too low. To be able to make ends meet (and secretly be able to party a little more), a student loan at NEO is therefore a handy option. Borrowing money from the government is a lot cheaper than borrowing money from a bank.
Borrow cheap money with a student loan
It is possible to take out a loan with NEO. You will receive this loan in addition to your basic grant and any supplementary grant. As with other loans, you also pay interest on a student loan. However, this interest is very low. In 2012 it was 1.39 percent and in 2013 it was even 0.6 percent. The interest rate changes every year. You will always be kept informed of this.
Not every student can take out a loan with NEO. You must then be entitled to student finance. In this article you can read more about the conditions for student finance.
The student loan that you only repay after your study. You can do this for a maximum of 15 years. When you have completed your studies, the interest will be fixed for five years. If you do not have the option to repay the loan for a while, a period stop can be started.
Are you not eligible for a student loan at NEO? Then you can choose to borrow money from another financial institution.
The so-called additional student loan
There are various lenders who only offer student loans. These loans are offered on favorable terms. A higher disadvantage of a student loan with such a lender is the higher interest rate. This is of course much lower with a loan from NEO. An advantage is that a student loan at a private institution is more flexible. The amount of a NEO student loan is limited. You can often borrow a higher amount from another financial institution.
A revolving credit is most suitable for students. This has a lower interest rate and you always have some extra money. In addition, you do not have to repay the loan within a certain period. You can already take out a revolving credit with an interest from 4.8 percent. This is of course still very low, especially if you compare this with the interest for a credit card or personal loan.
Would you like more information about a revolving credit? Request more information without obligation from one of the providers we have selected and you will receive customized information within a considerable time.