Student loan for graduate study
Remain the same conditions of funding from last year. There is no interest at 0%, disassociating itself from the future income and do not vary the terms. The Ministry improvement this year the terms of repayment.
Expand training with master or doctorate studies is an attractive option for thousands of college students when they complete their formal education.
To facilitate access to this postgraduate training, the Ministry of Education, Culture and Sport has announced the new line 2011 of University Income Loan Program.
Financing conditions and escalated in 2011 compared to previous editions and are maintained for this academic year: no interest at 0%, is dissociated from the future income and no waiting period vary (time in which no pays the money and paid only the interest), but are increased amortization periods for return.
Both in the previous edition as in the current evolution of the scholarships and study grants of Education has restricted considerably. The budget has been halved compared to last year when it spent 100 million euros compared to 45 this year, and conditions remain tough in the first editions.
The reasons must be sought in the economic situation in the country. As set out in Ministerial Order regulating the new line of University Income Loan for this academic year 2011-2012 the call conforms to the measures taken “to strengthen the effectiveness of public expenditure management and the treasury.”
New conditions
The purpose of the loan is to facilitate access to official university masters and doctorate taught in Spain or equivalent training in the countries of the European Higher Education Area (EHEA), United States and Canada.
The program is to fund these studies using an initial aid to cover tuition fees (up to 6,000 euros to 120 credits) and, if desired, a monthly income (maximum 800 euros, in 12 monthly for studies of 30 to 60 credits one year and in 21 monthly installments, for studies of 60 credits or more than two years) during the training period, to address additional expenses such as residence or child support.
Amount: Applicants can receive a maximum loan of 15,600 euros, in the case studies have a duration of one academic year, or up to 28,800 euros if they last for two courses. When you are studying for master’s or doctorate abroad, the ceilings will be increased by the amount of the supplement, “as long as the loan requested exceeds the maximum specified for each case.” As the loan application deadline has been opened once the academic year, those interested in the rent can apply for retroactive payment of the monthly.
Deadlines: the duration of the loan varies depending on course load for the studies requested. For a master’s or doctoral degree from 30 to 60 credits, will have two-year grace period and eight of amortization for the 90 graduate credits, three and twelve-year grace period of amortization, and 120 credits for four years of deprivation and Sixteen of amortization. These deadlines are mandatory for all applicants, with linear and monthly repayments.
Interests: The main attraction of this program was that previous calls had no interest financing. However, for loans obtained for this course removes the 0% interest loan will have a fixed interest rate to 5.433%. The Ministry of Education partially subsidized loans with a grant equal to the amount obtained by applying the years of absence the rate quoted.
Requirements for applicants: the restrictive measures also partially affect the requirements that must be met to apply for the University Income Loan. Last year it introduced a new clause that maintains and restricts access to those who have earned income above $ 22,000 the previous year (2010).
Who can apply
So be open May 30 the deadline for applying the new line of University Income Loan 2011. You can access the funding program for college graduates who perform or will perform in the 2011-2012 academic year postgraduate Masters or PhD in Spain, countries of the EHEA, the U.S. or Canada. Must meet the following requirements:
Have Spanish nationality or country of the European Union or EU (with residence permit), provided they have resided in Spain for the four years preceding the date of filing.
Have obtained a bachelor degree or equivalent officer, giving the right to access to postgraduate teaching, subsequent to January 1, 2000.
Have have enrolled or accepted in official postgraduate in Spain, a country of the EHEA and the United States or Canada, with a workload of at least 30 ECTS credits or equivalent in the case of masters, or a year academic doctorate.
Not having obtained another official master’s degree in Spain or in another country and not have perceived the University Income Loan in any of the previous editions.
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