One of the best among Student Financing!
When it comes to attending a degree, it is interesting to have assistance in paying the tuition. After all, many of the new students still do not work, or even those with monthly incomes may find it difficult to afford the high costs.
With this in mind, several types of student financing are available in the market, but Good Finance, the Federal Government program, is the one that brings the lowest interest rate.
Good Finance: What is it?
Student Financing is managed by the Ministry of Education, and guarantees higher vacancies for students from all over the country. The program works by paying all or part of the tuition fees for a college degree, while the rest of the costs will be paid by the student upon graduation.
Undergraduates may opt for 10% to 100% of the college values. The percentage accepted for funding depends on the applicant’s course and family income.
Even students already benefiting from ProUni (University for All Program), which provides scholarships for various classes, can use Good Finance. When the scholarship is not 100%, the student can seek financing of the remaining costs through installment payments.
Students who do not have a guarantor can count on government funds that will guarantee the funding.
There is usually a guarantor requirement to obtain installment payments. Graduates with monthly family income per person up to a minimum wage and a half, however, may apply for assistance from the Educational Credit Operations Guarantee Fund (Fgeduc), which will serve as collateral in place of the guarantor.
Interest and conditions
The Good Finance interest rate is only 6.5% per annum. In contracts signed from 2018, this amount will vary according to the applicant’s monthly family income, ranging from zero to just over 3%. The change will make the charges even more attractive, keeping them as the lowest student loan in the market.
Other installments, such as banks, for example, have variable interest rates according to student income. E-Money, an option widely used today in universities, also has a higher rate, and may reach 3% interest per month in case of late installments.
Lower interest rates are a great advantage both for the payment of installments and for the lower total amount for Good Finance financing.