Credit for Continuing Education

Are you interested in a tailor-made loan for further training? Are you planning full-time training or part-time training?

We do not support your project by imparting learning content, but present you with the suitable loan offers for financing. Our goal is to inform you in such a way that you can finance at a low interest rate and appropriately.

Training credit – labor market

Training credit - labor market

A credit for further training opens up new career opportunities and consolidates the position of the job. The “knowledge of the world” doubles in less than a decade. People who do not want to be an old iron should continue to learn after their initial training. The labor market continuously selects workers, this fact is no secret. From a superficial point of view, jobs are redistributed from old to young.

A closer look reveals the redistribution from outdated knowledge to proven, current, up-to-date knowledge. The still unwillingness to continue training at their own expense almost inevitably leads older workers to the blind alley of old-age unemployment. Most of the jobs will be retained for highly qualified senior management staff.

Even the otherwise rather sleepy politicians have recognized the problem and are calling for further training. Politicians have also recognized that many citizens recognize the need, but fail because of the funding. In response to the need, a lot has happened in the publicly funded loan for further training in recent years. From the originally narrowly defined Best Bank program for the master Credit Aid became the ascent Credit Aid.

Aufstiegs-Credit Aid – finance further training appropriately

Aufstiegs-Credit Aid - finance further training appropriately

In contrast to previous public promotional loans for training and further education, the Credit Aid (loan 172) is a financing offer for everyone. It is aimed at people of all ages and professions wishing to undertake further training. The most important prerequisite for receiving the development loan is the initial training of the past. Further education requests for the next higher education qualification are eligible.

Best Bank claims that the educational institution is a “Credit Aidrecognized” training facility. The measure must comprise at least 400 teaching hours. Eligible full-time courses can run for a maximum of 36 months, part-time courses for a maximum of 48 months. The program pre-finances the training costs, but also the cost of living. Part of the total cost is granted as a grant.

The loan for further training at Best Bank is divided into three phases. A payment phase of two to four years free of interest and repayment. The money is paid out monthly as a support for living expenses. Followed by an interest-free and repayment-free waiting period of a maximum of two years. This is followed by a maximum of ten years of repayment phase with a minimum installment of $ 128 a month. In the repayment phase, the interest can be fixed at the then applicable interest rate.

Loan amount and other key data

Loan amount and other key data

The credit assessment is divided into course and examination fees, the masterpiece and comparable work, as well as a contribution to monthly living expenses. Up to a maximum of $ 15,000 credit may be taken out for course and examination fees. Best Bank attributes 60 percent of this to the credit account. It awards 40 percent as a non-repayable grant.

Best Bank funds the masterpiece or a comparable examination paper with a maximum of 2,000 USD. Again, 60 percent of this is for the repayable loan and 40 percent is granted by Best Bank as a grant. The monthly maintenance is calculated individually. The local office for training support calculates the amount taking into account the marital status and personal reserves.

Particularities:

In contrast to the loan for further training from the private sector, there is no credit check for granting public promotional loans. The continuing education loan can therefore be approved against the background of current unemployment and existing debts.

Attentive readers will miss the interest claims for amounts credited in the previous lecture. This is because the interest rate can only be fixed in the repayment phase. It would currently be 0.87 percent APR. – Calculated from the 6-month Astro Finance.

Nobody can predict what the whole thing will look like in four years. The only thing that is certain is that in the repayment phase, borrowers can choose between variable interest rates and fixed interest rates for Best Bank credit for further training.

Distance learning – part-time training

Distance learning - part-time training

In principle, distance learning expressly counts as eligible further training measures. In distance learning, people usually qualify part-time. A loan support for maintenance would only be possible and necessary for full-time studies. The optional monthly payment of the tuition makes it affordable for most distance learning students to forego the ongoing costs.

Not even a credit for the exam would really make sense for some educational qualifications. For example, the tax consultant exam only costs between $ 200 and $ 300 exam fees. This amount could be covered by the overdraft facility if necessary. The loan for further training with an emphasis on financing the preparation for exams is of particular interest. The review, the intensive repetition course for exam preparation, is indispensable.

As a rule, it takes place in a central location and lasts between four and six weeks. During this time, the candidate has to shoulder a few thousand USD in a very short time. A loan for further training as a small loan is particularly suitable for this. It would be possible to find particularly low-interest loan offers via a free loan comparison, such as that offered by Agree Bank.

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