Here we give you the best options: (How can I pay for the race)
With a desire to go to the U, but the cost of tuition, subjects, books, tours, food, the bus and a thousand other things that you occupy to study overwhelm you? Do not worry because nothing is lost.
Luckily, in our country, there are institutions that offer financial support to finance your university, technical or specialization studies. Here we let you know.
It is an institution that gives loans with accessible conditions to people who do not have the money to finance their academic studies. By having a social approach, the requirements and interest rates are quite accessible. The amounts of credit offered by this entity will depend on the needs of the applicant, the guarantees that this offers and the cost of the plan, course or specialty that he will perform. One of the advantages offered by CONAPE is that it allows you to cancel the debt once the person has completed their study plan. At present, the interest rate on loans is 4%, however, it must be remembered that it varies periodically. Also, it should be noted that the credits are aimed solely at Costa Rican students by birth or naturalization, so it does not apply to foreigners.
You will be interested in reading: How to apply for a loan in CONAPE?
BN Education Solutions
The National Bank offers an investment plan, under the modality of personal loans, which allows both colones and dollars to fully or partially finance the academic, professional or technical training of the interested party. This entity finances all academic degrees as well as free courses, technicians, languages, and courses abroad. In addition, to the investment plan, you can add study expenses, food or lodging.
To apply for this loan, a guarantee is necessary.
This can be the bail of a person who works in the private sector, bail of a person who works in the public sector, mortgage or title of value. It is worth mentioning that the amount granted by the bank will depend first on the needs of the person and second, on the guarantee offered by the applicant. The amount of credit offered by the BN ranges from ¢ 500,000 colones to ¢ 65,000,000.
The benefits offered by this entity are the following:
Competitive annual interest rate (between 8% and 14%).
The term of 10-15 years (fiduciary guarantee) and 20 years (mortgage guarantee).
Total financing of the investment plan.
Total or partial disbursement of the amount requested.
A possibility of canceling the debt once the study plan is finished.
Education Expenses of Banco Popular
This bank offers loans to solve the credit needs for education that the person has, whether payment of tuition, materials, books, equipment, etc. These credits, in general, are aimed at students with their own income; however, in case the student does not have income, a family member may request it. Banco Popular offers a maximum amount of $ 25,000 with guarantor and a maximum amount of $ 20,000 without guarantor. The required amount can be delivered in a single amount or in several disbursements, according to the needs of the interested party. The Banco Popular interest rate for this type of loan is 14% per annum; revisable and adjustable.
Credit of the BCR
This type of credit was designed, like the previous ones, so that young people can finance their university studies. The BCR offers a maximum amount of ¢ 25 million with a mortgage and a maximum amount of ¢ 8 million with bail. The credit can only be requested in colones and has a term between 7 and 15 years.
This cooperative offers 10 products for education credit. Among them are: financing of curriculum, training, technological equipment, specializations, language courses, graduation expenses, etc. The loans can be granted with the guarantor or without this and the maximum loan amount offered by this entity is ¢ 30 million with a maximum term of 120 months. The interest rate is 18% and to apply for the credit it is necessary that the person joins the cooperative.
Entities such as BAC Credomatic and Grupo Mutual also offer personal loans that, while not intended to finance academic studies, can be applied to this type of financing.
It is important to mention that universities offer scholarships and financing to students to complete their academic studies. Such is the case of the Technological Institute of Costa Rica which grants, through a loan system, a monthly amount to the student to cover their study expenses. The financial aid received by the student, on loan, must be reimbursed after graduation or withdrawal from the institution, through monthly payments. The monthly amount of financing will be maintained throughout the career and the interest rate will depend on what is established by the National Council of Student Loans (currently it is 8% fixed annual).
As you saw, there are several options that you can study and choose. But before doing so, we recommend you consider the following:
1. Before making a decision, compare the different credit options.
Before looking for external options, ask if your university offers a scholarship or financing system
2. Make sure you have all the information about the credit (fees, requirements, deadlines).
3. Pay close attention to the interest rate and the periods of change or adjustment of this.
4. Read the documents very well before signing them.