Guide to requesting a study credit

Protection of state guarantee

Asking for money to pay for college doesn't have to be a financial burden for parents or the young person themselves.

In Portugal, the Training Credit benefits from a mutual guarantee system actively supported by the State, which serves as a guarantor of the student before the bank.

As the financial institution is protected by public funds against any failures, the operation risk decreases drastically, allowing for much cheaper interest rates than in a common personal loan.

Reduced tuition fees during course.

The major structural advantage of a student loan is the so-called capital grace period. Banks know that usually, a student in an intensive study phase does not have a salary to support normal and large installments. Therefore, during the academic period, the student only pays a reduced monthly payment corresponding to interest and taxes, relieving immediate pressure on the family's budget.

The start of full payment

The actual payment of the original loan capital only starts after the bachelor's degree, or the master's degree, is completed.

The student gains the vital and planned time to search for the first job in their field of study and start receiving a steady salary. Once their professional life stabilizes, the phase of need ends and they begin to progressively repay the overall debt to the bank, through a sustainable payment plan.

Do college expenses suffocate the budget?

If tips and student accommodation bills put the family's financial life in the red alert, it's time to catch your breath.
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