Student loans carry risks. A new study shows that many offers must be started during their studies with the repayment. Students should also pay attention to the conditions in case of dropping out and the possibility of foreign semesters.
The CHE Student Loan Test examined 33 offers. Students should take into account the overall credit history of the comparison and not only pay attention to the initial interest rate. Variable interest rates can lead to significant additional burdens when interest rates rise.
Depending on the loan, this can even lead to problems during the payout phase. In the study loan of the federal intrasavings, for example, the interest will be charged monthly and deducted from the payments. A variable interest rate does not have to be bad. Especially if at the end of a larger loan amount is expected but an interest cap should be provided in the contract, so that the cost risk remains limited.
Student loans with fixed interest rates are by no means always secure, as the authors of the study point out. So the conditions changed after the Bachelor often. For example, a fixed rate may only apply for a few years and then be redefined. Although there is certainty in the short term, in the long term students are exposed to high cost risks.
Alternative to student loans
A low-risk alternative to student loans is provided by a few educational funds. They do not ask for fixed rates but for a certain percentage of the later salary. The advantage: Those who earn little or nothing after graduation do not have to pay either. Conversely, high earners have to put off a lot and probably pay more in total than a loan.
According to the CHE study, the regional interest rates are particularly good for regional providers, although there are expressly no exceptions. Financial experts generally advise students not to be too careless with loans: the debts must be repaid later. Since intrasavings introduced student loans in 2006, more and more students are using this option. In some cases, however, huge amounts of debt have also sprung up, which can have a lasting effect on financial life planning.