Bridge Loan: How Student Financing Works
For students who wish to request Isabel Archers but do not have a pay slip or special guarantees, there are special solutions. An interesting formula is Pyrobanking’s Crediter Bridge, which not only renewed its name, becoming Posteloan also its services. Let’s see in detail what it is.
Bridge loan: what is it?
Previously known as Crediter Bridge and now renamed Posteloan, this form of subsidized financing from Pyrobanking allows access to an annual credit to all deserving students. The agreement between Pyrobanking and Italian universities includes a very large number of universities, but also organizations and companies.
All students enrolled at affiliated universities can access the Posteloan by requesting the necessary authorization from their university. The amount of the loan varies according to the contracted organization, on average estimated at 5,000 euros per year for a maximum of five years.
The loan is activated by opening a current account with Pyrobanking, which will be credited with the amount granted, which can be paid in a single installment or in several quarterly or six-monthly installments. In this way, the applicant will have easy access to his credit and will be able to use a credit card specifically designed for the occasion. There are no restrictions on the use of the loan, which can be used, for example, for the payment of the rent, for the purchase of materials useful for the study and, above all, for the payment of university fees or for enrollment in courses training and masters.
As regards the repayment of the loan disbursed, moreover, this formula is interrupted only upon the actual achievement of the qualification, facilitating the transition to the world of work.
Bridge loan: advantages and requirements
PerTe Loan with Praise or Bridge Loan is a very competitive and flexible form of financing, thanks to interest rates of just under 3% (APR), required only for the capital actually used. Furthermore, as already explained, the approval of the loan must not be subject to any verification of personal assets and no further personal guarantees are required, such as, for example, the parents’ signature. The debt can also be returned in advance without any additional costs, both in the event of partial or total repayment.
So what are the requirements for applying for funding? To access Posteloan the requirements are solely related to your progress in the studies. In this sense, it is necessary to check the terms of the agreement between Pyrobanking and your university before applying. In fact, there are no precise evaluation averages for the eligibility of the loan application, except for specific requests from the university. The only essential requirement, on the contrary, concerns the obtaining of training credits, which must remain constant and regularly respect the deadlines of one’s studies in order to guarantee continued access to credit.
A final distinction, finally, concerns the type of study path that is addressed. For a three-year degree course, for example, it is possible to request a loan for a total of three tranches (1 year plus one semester), with the possibility of renewal. For a single-cycle master’s degree (5 years) it is possible to request a loan for a maximum of three years, which can be spread over six tranches.
All you have to do is contact your university or the Pyrobanking official website to find out all the details about the agreement and the possibility of immediately requesting your soft loan with Posteloan.