Borrowing money to finance one’s education can also be an option – if you are likely to eventually have a well-paying job. The State can vouch for your loan, in order to facilitate its obtaining.
Who is concerned?
The student loan is open to all students without conditions of resources and parental or third-party guaranteed home loan
. With the possibility of repaying their loan in a deferred manner.
However, you must:
Be enrolled in an institution for the purpose of preparing a competition or diploma of French higher education;
Be under years of age on the date the loan is made; 28
Be of French nationality or possess the nationality of one of the EU or EEA Member States, provided that he / she has demonstrated uninterrupted regular residence in France for at least5 yearsHow does it work?
You deposit, at one of the banks mentioned below, a loan application file. This bank will decide if it grants you this loan, and under what conditions. (In order not to favor situations of over-indebtedness of families, the banks thus retain a discretion in the final choice of the beneficiaries in view of the file constituted by the interested parties in support of their request.)
The risk of default is guaranteed by the State at % .70
The loan will be repayable on a deferred basis, that is to say you will start repaying years after the end of your studies, when you entered the working life.2
Maximum amount: 15000 euros
The guarantee mechanism is based on a guarantee fund whose management has been entrusted to bpifrance . Its vocation: to encourage financial organizations, which take the initiative to finance the life of
the student, by granting them a partial guaranteed home loan
of the loans made.
Warning: this device does not create a right to credit for students. To avoid favoring situations of over-indebtedness of families, the banks retain a discretion in the final choice of beneficiaries in view of the file constituted by the interested parties in support of their request.
In summary, the characteristics of the loan
Without personal surety or conditions of resources
No parental guarantee or third party
Maximum amount: 15,000 euros
Minimum duration: 2 years
The student loan is a consumer credit that is granted to you to finance your studies. It can be subject to a deferred refund, which allows you to start repaying only once your studies are completed. The State can provide a guaranteed home loan
for such a student loan (under conditions), to avoid you to find a deposit.