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About Student Loan in a Simple Way
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Why is Student Loan beneficial1?

He or she who uses this unique credit opportunity, can receive credit with especially favourable conditions.

No Credit Evaluation

No income, no guarantor and no funds are needed for the credit application. He or she who requests Student Loan and complies with the eligibility conditions will receive the credit amount chosen by them.

To be spent on anything

No need to confirm on what you spend the borrowed loan, you are free to decide where the money should go.

On a monthly basis or in a lump sum

You can choose whether you wish to take your loan on a monthly basis in instalments of 15, 21, 25, 30, 40, 50, 60 or 70 thousand Hungarian Forints or every semester, in a lump sum, up to 250 thousand Hungarian Forints per semester.

In the case of Credit Contracts concluded after the 15th August 2012, the amount of the repayment instalment will be 6% consistently, independently of the borrowed credit amount.

Those may have a higher repayment proportion who concluded a contract before the 15th May 2012 and do not apply to Student Loan2.

The Repayment Can Wait

The repayment obligation comes into effect on the first day four month following the termination of the student’s legal status but no later than when he or she turns 45.

The repayment obligation may be suspended before turning 45 if when reaching the mentioned age, the Credit borrower still has your legal status as a student.

Repayment in proportion with the income

The size of the repayment and the period of its repayment are adjusted to the income data. Regarding the difficulties of starting a career, we have introduced further facilitations for, the first two years of the repayment period. According to these, in the year when starting the repayment and in the year following it, repayment must be made only on the basis of the minimum wage. Starting from the third repayment year, the basis for the calculation of the repayment instalment is the gross annual income of the two preceding years. If the income reported later does not reach the amount of the minimum wage then repayment must still be made on the basis of the minimum wage.

Unrestricted Early repayment

Any time during the period of the repayment of the credit, early repayment is possible, without either limitations or extra charges. The amount of the early repayment decreases the capital debt directly, this way it is possible to shorten the period of the payment of the Student Loan.

Freely adapted maturity

The maturity of the repayment of the Student Loan is not fixed in advance. The maturity depends on when the entire credit debt can be repaid out of the repayment instalments to be paid obligatorily and out of the repayments.

An early repayment can be made any time, with any frequency, in any amount, free of charge.

An early repayment can be made any time, with any frequency, in any amount, free of charge, as well as in the compulsory repayment period, besides transferring the monthly instalments before the deadline.

Benefits to Student Loan Borrowers

In the case of Student Loan1, those may request aimed interest support and repayment suspension who are eligible to pregnancy confinement benefit, child-care fee or home-care allowance. The aimed interest support means that the State undertakes the payment of the interest charged for this period. If they receive aimed interest support then their repayment obligation is suspended automatically, as well, i.e. during the period of the benefit, they will not be obliged to pay for the monthly compulsory repayment instalment.

Suspension of the repayment may also be requested by those who are eligible to disability and rehabilitation supply or disability and rehabilitation benefit or those who establish student’s legal status again before reaching the age of 45.

Besides, the specified mitigation of the repayment instalment can be requested for a maximum of 36 months by those who are repaying Student Loan according to their income; thus, are at least in the 3rd year following the beginning of their repayment obligation and are not paying the repayment instalment specified on the basis of the minimum wage.