In the coming academic year in terms of student loans effective regulation of the Minister of Science and Higher Education dated 18 May 2010. On the detailed rules, procedures and criteria for the award, repayment and forgiveness of student loans. (Journal of Laws No. 87 of 2010. Pos. 560 as amended).
Below are details on student loans, taking into account the changes in the system.
Recipients of the loan
The credit can apply to all students (including graduate students) regardless of the type of institution (public, non-public) and the form of study (full-time, part-time), on condition that the studies will begin before age 25 years.
Banks participating in the student loan
The student loan student can apply in one of the following banks:
- PKO Polish Bank SA
- Bank Pekao SA
- Bank of Polish Cooperatives SA
- Commercial Bank Wielkopolski SA
- Mazowiecki Bank Regional SA
Submission of credit
The request for the loan consists of a branch selected by the student bank. The application shall include information on the amount of monthly income per person in the student’s family during the calendar year preceding the application.
Income per person in the family
When submitting an application must be submitted incomes per family. When calculating this income will be taken into account in net income. Documentation of income will be similar to that in force when applying for the provision of material aid having a social character of the university, which students seeking both credit as scholarship and will be able to use the same certificates.
Student loan guarantee
If you can not meet the requirements of banks in terms of loan collateral, the student can apply for bail BGK and the surety Agency for Restructuring and Modernisation of Agriculture.
A student loan is granted for a period of study, including doctoral studies. The loan is paid a maximum period of 6 years, and in the case of doctoral studies – for 4 years. The loan is payable over 10 months in the academic year.
Conditions of payment of loan
The condition of obtaining tranche of the loan is to present to the bank in terms of 31 October and 31 March of a valid student ID, or PhD. A certificate of graduation, the pattern defined in the Regulation of 18 May 2010., The student will submit when applying for a loan or credit agreement aneksowaniu.
Repayment of the loan
Loan repayment begins two years after graduation. The number of installments of the loan is twice the number of paid loan installments. Interest on the loan is repaid by the borrower are charged at half the rediscount rate of the Polish National Bank for a period equal to twice the number of paid loan installments.
The suspension of loan repayment
In the event of difficulties in repayment of the loan the bank can reduce the amount of installment loan up to 20% of monthly income or temporarily suspend repayment of the loan with interest for a maximum period of 12 months.
Redemption of credit
The loan is amortized at 20% of borrowers who graduated in the top 5% of a group of graduates. In special cases, the loan can be redeemed in part or in whole because of the difficult life situation (eg. Illness, accident) or permanent loss of the ability to repay obligations (eg. Disability).