Are you thinking about going to college, but unfortunately you are short of money? Student loans may be the solution for you.
Maybe you couldn't get into a public university or maybe you're struggling to pay for a private college, don't give up on your dream! Currently there are opportunities that can help, and a lot for you to make this dream come true in your life.
With the advancement of society, more and more private institutions throughout Brazil are offering advantageous funding programs for courses in all areas, because they understand that this is really important.
Therefore, with these student loan programs, you can study with peace of mind and only worry about paying after you graduate.
You see: nowadays, there are programs of various types. Some pay part of the monthly fees and others can pay up to 100%. Besides, what matters is that they all give you a lot of strength to get your university degree!
Next, learn what student financing is, what are the main market opportunities and how to get your benefit!
What is student finance?
In general terms, we can say that financing works basically like a loan. In this way, the student signs a contract with an institution (usually a bank), which undertakes to pay the course fee, or at least part of it.
It is important to say that by doing this, the student will then be acquiring a debt, which will need to be paid later.
This is the general operation of the student finance, however, it is important to note that models vary. In many of these models, you only need to start paying off debt after completing the course. Interest rates and payment terms may differ depending on the financing program.
A precious tip for you students: before you sign any contract, it is very important to pay attention to all these details so as not to be caught by surprise when paying off the debt, don't be too lazy to read your contract!
After the Dilma government, funding programs have been expanding in higher education. There is a large government program (the FIES) and also many private programs, developed by the faculties themselves.
How to get student financing?
We will explain some famous programs all over Brazil about student finance and how they really work in Brazil.
The most famous program: FIES and P-FIES
FIES is the Student Financing Fund which is today the most far-reaching financing program in all of Brazil. It was created in 2001 by the Lula Government, through the Ministry of Education (MEC) to facilitate the entry of low-income students into university education. The benefit is valid for face-to-face courses at private colleges.
From a few years ago, in the Dilma Government, the Student Financing Program (P-FIES) modality also came into force. The basic difference is the income level required to participate, as you will see below.
What are the main rules? Check it out: one of the requirements to apply for one of these loans is to fit the monthly gross income profile. To opt for FIES, it must be up to three minimum wages per person. For the P-FIES, it must be three to five minimum wages per person.
It is also worth remembering that another Government requirement is to have taken the Enem (any edition from 2010) and obtained at least 450 points in the overall average of the tests, with a score above zero in the essay.7
Student loan application process
It has no mystery, very simple and practical. Registration is done exclusively online via the internet. In the given period, the candidate must access the official website and respond to a socioeconomic questionnaire, inform CPF, date of birth, e-mail, CPF of family members over 14 years of age and the gross monthly income of each one of them, when have.
Soon after, you must choose, in order of priority, three course options among the available vacancies. During the period in which applications are open, the candidate has the opportunity to change his options.
Student Loan selection process
If the candidate is pre-approved, he must complete his registration on the website, validate the information with the faculty and go to the bank to sign the contract.
The acquired debt only has to be paid after the completion of the course, in many installments. The interest rate varies according to the signed contract.
Here's a tip: many renowned Brazilian private colleges have already joined FIES and P-FIES. Among them, we highlight some that have great structure and good evaluations by the MEC:
Other student finance options
For those who don't know yet, Banco Santander is one of these banks, which has a very interesting university credit proposal, and which is very worthwhile to be checked out below, throughout this article.
And finally, it is worth mentioning that contracting the financing of a university study is a long-term bet, as the results promise a great result with many doors open to job possibilities.
Anyway, did you like it? So leave your comment, or share this content with friends who would like to do student financing, but don't know where to start!
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Source: FIES
