Student loans: The State Guaranteed Student Loan (BPI) allows you to obtain a loan of up to € 20,000 to finance your studies. Accessible in 5 banks, it allows you to take out a loan without benefiting from a parental guarantee.
It’s the loan application season for students, who are preparing for their return to school next September! And this loan guaranteed by the BPI (up to 70%) allows you to borrow up to € 20,000, then repay at the end of your studies.
Student loans guaranteed by the State: a credit without means test or family guarantee
For young people doing studies that are increasingly expensive, it is often necessary to resort to a loan. There is already the classic student loan which generally requires parents to be surety in the event of default by the borrower.
The advantage of the student loan guaranteed by the State is to benefit from the guarantee of the Public Investment Bank (BPI) which covers 70% of the risk of default (excluding interest), for a maximum amount of € 20,000. (against € 15,000 last year). It is granted without conditions of means and can be used to finance various elements: tuition fees, purchase of computer, housing… without proof. And the envelope has been greatly increased, allowing more students to benefit from it.
This credit is intended for students under 28, French or nationals of the European Union or the European Economic Area, to finance a French diploma.
State-guaranteed student loan partner banks
Five banks distribute this credit. It is :
- Société Générale,
- the Banque Populaire banks,
- the Caisses d’Epargne,
- Crédit Mutuel,
- the CIC.
You must therefore make your request to one of these establishments. But beware! Obtaining the loan will first and foremost depend on your repayment capacity upon graduation. In addition, depending on your level of study and school, the amount granted may differ.
Student loans: a two-step mechanism
Unlike a traditional loan, the student loan works in two stages: the repayment of the student loan is deferred at the end of the years of study. This is the “deferred repayment”.
Either you reimburse the interest due and the insurance during your studies: this is a partial deferral.
Either you do not pay the interest during this period: in this case, it is a total deferral. And at the end of your studies, you have to repay the principal and interest over the term provided for in the contract.