Training that has to be funded entirely or in part is often very expensive. The same problem occurs when studying. Those who do not have the appropriate reserves or cannot use other resources generally have no choice but to look for a loan for the training. Those who continue to work alongside their training will be able to carry out their loan request much faster than a person who gives up their job.
Training and student loans
In recent years, more and more banks or savings banks have started to provide special student or training loans for their clients. Some of these loans are provided in cooperation other organizations that are committed to financing training and further education measures. The credit requirements are sometimes very different. Special collateral is often not required. However, the credit information must be in order and there must be no personal or regular bankruptcy.
Installment or consumer loans
Anyone who is completing an apprenticeship is free to apply for an installment loan from the bank and use this loan as a loan for the apprenticeship. However, this path is only promising if a job is carried out in parallel with the training, for which the income is so high that it is above the officially specified exemption limit. The bank is not interested in whether an installment loan is used for training or for any other purpose. In addition to a fixed income, positive credit entry information must be available. If all these requirements are met, nothing stands in the way of quick loan approval and payment.
All formalities that are required in this connection are settled between the lender and the borrower. A loan for the training must be repaid in installments. In the case of a student loan in particular, there is the option of postponing payment after the end of the training and only starting repayment later. In this way, the borrower should be given the chance to gain a foothold in working life without initially being exposed to unnecessary financial burdens.
Our career training loans help cover the costs of trade schools and professional training programs.