No credit without income
If you don't have any income yourself, you might get the idea that someone could vouch for him. But this is not possible, because no reputable provider grants a loan to people who do not have their own income. This is also not possible with a guarantor! The personal loan stipulates that it must be repaid on its own, which is also the reason for the extensive checks by the bank prior to approval. As part of the credit check, your own income is carefully examined and included in the assessment.
With a personal loan, the following conditions regarding income are required:
- the applicant is in an employment contract that has not been terminated
- the minimum income is 2,500 Swiss francs a month
- the minimum income required also depends on the amount of credit required
Pending or completed debt enforcement and the regularity of payments are also checked.
This is how the study financing can work
As a rule, students cannot get a loan. If you cannot fund your studies in any other way, you should therefore look for alternatives. This means that you may ask within the family, friends or acquaintances for a loan that can be designed according to your financial means.
Important: Always keep any agreements in writing, because what's the name of it? ?Money ruins friendship!? This also applies within the family, where disputes have often arisen because the money lent has not been repaid. The most important conditions such as the amount of the loan, the repayment modalities and the time of repayment should be laid down in a contract signed by both parties.
However, there are other alternatives to traditional personal loans. A scholarship is eligible for significantly more students than is generally accepted. A student loan is also often possible, although no specific statements can be made about the modalities here. These depend on the canton in which you study and on the institution itself. The conditions differ in this regard. However, the university is a good contact for financing your studies and usually offers its own advisory services.
Crowdlending may be an option for private investors, and donations can also be collected on various platforms. However, the course must then really be worthy of support. apply and be described accordingly!
Conclusion on personal loans for students
At this point you have the option of a personal loan through a Credit comparison avail to take. But a personal loan will not work for students as long as they do not have their own income. In addition to an impeccable credit rating, this is the most important prerequisite for such a loan to be granted at all, and the minimum income must be 2,500 Swiss francs, which for most students should be far from reality.
