Knowing More about Student Loans
For several years now there are people who have to regularly pay monthly installments to the bank with a 12.5% interest. Beginning, he was forced to apply for a loan of 100 million to a private bank for education expenses of her three children. Cannot help it, their tuition is not cheap, although at a state university. If only rely on salary, it is not enough. As the senior generation who tasted the bench college in the 80s, he was never heard of the Student Lending, and did not take. According to him, if there is, it would be very helpful and could increase the motivation of children to get a decent job after graduation in order to pay off the loan. The program was terminated by the government in the early 90s. The reason is a lot of funds that are not returned.
Knowing More about Student Loans
Referring to Law No. 12/2012, Higher Education should be no barriers for the poor but intelligent students academically to get education to a higher level. In Article 76, paragraph 1, the law mentions government, local government, and college are obliged to fulfill the right to economically help students to complete their studies according to the academic regulations. Furthermore, in paragraph 2, the fulfillment of these rights can be in the form of scholarships, aid or free education, and loans without interest that must be repaid after graduation or employment. Awarding scholarships to outstanding students spelled has been done, how the loan without interest, or known as student loan?
The concept of student loan is different from the scholarship. Student loan is a program organized by a company for student loans that must be paid. Scholarship program is initiated by the company in full nature or awarding grants. Neither student loan nor scholarship, both in fact are awarded to outstanding students or cannot afford. In developed countries, student loan has long been applied, the United States for example. Based on data from the Pew Research Center, a research institute, revealed that one in five households in the countries are tied to student loan.
Research conducted in 2010 but launched in mid-2013 was also revealed that the average student loan is borne by households totaled US $ 26,682. Sources of funds are also vary, not only from governments, but also private parties with an interest and manner of payment are also varied. Magnitude student assistance is given according to the needs and majors selected by recipients. During the study period, the recipient or the student does not need to be worried about a replacement for the money used. These refunds are made after students complete their education. Students who have passed are given the opportunity in grace period of 6 months to adapt to the world of work. After 6 months, the students are required to return the money used until the paid off.
Before applying student loan, there have been distributed scholarships to recipients who excel to continue studying abroad. Unfortunately, only a handful of the graduates contribute to helping the people of our country. Even some scholarship recipients stay overseas after graduation. Therefore, once learning this concept, we are trying to change the concept of philanthropy into a social business. Its function is to help the next generation. In channeling student loan, it always strives transparent though had tripped over a problem because of misunderstanding elderly beneficiaries. The program always attaches details of the total aid to each recipient, especially when the recipient will approve the agreement. It also assists the recipient along with the parents to explain as clearly as possible the content of the agreement. In the agreement, one of them contains the explanation of grants. It shall be obliged to contribute to the candidate receiving the next after graduation and work.