The student loan can be the subject of a consolidation of credits, an operation to buy back several credits to repay only one monthly payment.
Student loan: principle and functioning
The student loan is a consumer credit offered by some partner banks (list available on the government website), it is not necessary to be a customer within these organizations to be eligible. Obtaining a student loan involves being enrolled in an establishment located in France and preparing a French diploma of higher education (license, BTS, business school, university, etc). The applicant must be French and less than 28. The duration of the loan varies according to the amount borrowed and the duration of studies, the repayment is made in full at the end of studies. It is however possible to repay during the studies interest and borrower insurance, according to the clauses of the credit agreement.
Student Credit Purchase
It is possible to buy a student loan with other credits (consumption, real estate), which allows to standardize repayments within a single levy and to reduce the amount of the monthly payment that becomes unique. The rates are renegotiated, the duration is rescheduled and the monthly payment adjusted according to the needs of the borrower. Two situations arise, the student who enters the workforce and who wants to buy his student loan. The parents, who have endorsed the student, and who wish to include the loan in the purchase of their credits (consumption and / or real estate). Both scenarios are valid and can be studied as part of a free loan pooling study.
New project and loan buyback studies
If the redemption of credits has the advantage of being able to centralize the repayment of the various debts, this financing offers the possibility of including in the operation an amount allocated to a new project. That is, a borrower with several loans, including a student loan to redeem, may include a sum to finance a car, furniture, work, trip or any other project. Some borrowers also want to make a real estate purchase (real estate credit) and take advantage of this funding to buy the loan dedicated to studies. This optional sum requires an in-depth study of the borrower’s project and its credits to be repurchased, it makes it possible to evaluate the various offers of possible loan buy-backs.
The student loan redemption simulation
It is possible to simulate, free of charge and without any commitment, its student loan buyback project, specifying the amount of credits to be repurchased as well as the new project. Simulation makes it possible to obtain in a few clicks a first estimate of the new reduced monthly payment. The implementation of the file is then necessary in order to validate the offer of credit agreement and to proceed with the release of the funds.