Student Loans In Poland: More Young People Borrow To Invest
Categorized: student loans | No comments
According to the study published by the research company Open Finance, last few months have been extremely busy for financial institutions that offer student loans for young Poles. Based on the data you can notice that the number of loans taken by the students in order to go to College increased in relate to last few years. If things continue to go with the same speed as right now, this year will mark the record in terms of student loans taken ever in history.
The main reason behind this phenomenon is economic crisis. According to the Polish Government Statistics, in the last few months around 43% of all students took some type of loan. Most of them borrowed from banks while others took an advantage of government’s financial support for higher education. Polish Higher Education Council increased number of financial aid for any young person who wish to attend College and who has GPA higher than 3.5%. This allows Poland to polish the talent this country already has. In addition to that lots of young people emigrated abroad to study and where also took some type of loan. When you consider young Poles in the United States who have Green Card, you notice that a lot of them also took advantage of the Financial Aid in this country. Based on the law and regulations, any legal resident is allowed to apply for Federal Aid.
In Poland, the most popular type of student loan is called “lokaty“, which is given for certain amount of years and after that it has to be paid of with an interest on average of 9%. Economic crisis forced young people to work harder and go for higher education. Since significant number of them does not have enough money to pay off their college expenses, they turn to loans such as lokaty hoping to pay it off upon graduation once getting a good job.
On average, a typical student in Poland borrows around 9 tys. dollars for four years of school. The hope is to be able to pay of this sum of money few years after graduation. It is some type of investment in order to help young people get on their feet during economic crisis. The good news is that even an economic crisis does not mean that there are no opportunities out there. One of them is the new program passed by the Polish Higher Education Counsel that allows young people study abroad at the most prestigious Universities in the world including Harvard, UC Berkley, and Stanford. Polish Government hopes to bring a lot of talent bank to its roots and invest in them. This way Poland will compete against other countries around the world and hopefully improve its influence globally.
This post was tagged with:
No comments yet.