Do you already know how to finance your college after the changes in the rules of the Student Financing Fund (FIES)?
Many students entered higher education in recent years through the Federal Government program, however, with the increase in restrictions for the year 2016, candidates for a place in a private college were left with doubts whether or not they will be able to take a higher course. .
If you are also in this situation, we are going to present 4 ways you have to finance your college!
The types of financing
public funding
As much as government rules have become more restrictive, it is still possible to try to loan estimate a vacancy at Fies. The annual interest rate in this case is 6.5%. While taking the course, the student will need to pay a maximum installment of R$ 150.00 every 3 months to pay the interest on the loan. After graduating, he has a grace period of up to 18 months before starting to repay the loan. Subsequently, the professional can pay off the debt in up to 3 times the financed time of the course.
In the first half of 2016, the Ministry of Education (MEC) made available around 250,000 vacancies through Fies, of which almost ⅔ were in areas that the government listed as priorities, namely:
- teacher training;
- engineering;
- medicine.
The offer of vacancies also started to be based on the Human Development Index of micro-regions in the country, so those with the lowest HDI will have more vacancies available.
To participate in the Fies selection process in 2016, the student must have a gross family income, per person, of up to 2.5 minimum wages (R$ 2,200.00). In addition, he must have taken some edition of the National High School Exam (Enem) from 2010 onwards and have obtained an average score, between the tests, of at least 450 points. Another requirement is to have a grade greater than 0 in the essay. For the financing to be approved, it is necessary to have a guarantor.
Private credit financing
If being able to pay for college through Fies has become difficult for you, an alternative that has grown a lot in recent years is private university credit. The largest private financing program is Pravaler , which can be used by those who want to enter a college or by those who are already taking a higher education course, whether in person or at a distance . The program can also be used to pay monthly fees for other types of courses, such as:
- technician;
- postgraduate studies;
- MBA;
- master’s degree;
- doctorate degree.
To fund your college through Pravaler, you must sign the program every 6 months, even if you wanted to use it for the entire duration of the course. Pravaler’s interest varies between 0 and 2.19% per month, depending on the college. The financing installments, which correspond to half of the normal monthly fee, plus charges, must be paid each month by the student.
The requirements for hiring Pravaler are:
- have a guarantor with an income of at least 1 minimum wage;
- the student must prove income of at least 2.5 times the monthly fee for the course (it can only be the guarantor’s income);
- and not having credit restrictions, such as having the name on the SPC or Serasa — in this case, both for the student and for the guarantor.
bank financing
One more option to finance your college is to hire university credit that some banks offer.
For example: Bradesco has a line of credit for account holders that allows the semester to be paid in up to 12 months, with automatic debit to the student’s checking account. In this case, there must be an agreement between the college and the bank. The interest rate varies according to this partnership between the 2 institutions. The contracting of this credit is semiannual.
How to choose student finance
If you have found that you will not be able to use Fies to finance your college , carefully consider hiring private funding. First, see if the university center where you intend to study has an agreement with the entity that will finance it. After that, get to know the contract clauses, such as the interest rate and the maximum and minimum amounts of the installments, in addition to the time you will have to pay off the installments.
As in some cases student financing is semi-annual, study your budget to see if it will cover the installments. Consider that going to college includes costs other than tuition, such as traveling by car or bus, housing, food, books, etc. So choose the financing that best suits your needs. Whichever option you choose, read the contract carefully to avoid setbacks when you have already started the course, which can even bring problems to your learning.
The help of the company where you work
If you already have a job, one of the possibilities to finance your college is to find out if the company where you work has a benefit program to pay for a higher education course . In some organizations, the employee pays one half of the installment and the company pays the other. In these cases, the student usually needs to take a course related to the work he already develops in the organization, in addition to having to remain in the job for a pre-established period, after completion of the course.
As much as the economic crisis makes it difficult to enter a higher education course, keep in mind that going to college is a career investment and not a cost. By acquiring skills and developing competences during the course, the student will become a qualified professional for the job market .
That way, you can increase your chances of being hired by a company or even be prepared to set up your own business . With an above-average salary, since several surveys confirm that higher education brings higher remuneration, the graduate will be able to pay the financing installments more quickly.
