The honor loan consists of a form of facilitated financing structured for the youngest credit profiles that do not have particular remuneration guarantees and that want to invest in their own independent activity or support their own path of studies. The main strength of this solution consists in the extension of the credit repayment over time. It is sufficient to place the various existing types of Clowning in comparison to realize how the loan of honor is a very particular form of financing, which is based on its own credit logics and on the principle of merit.
Student loan: what expenses does it cover?
The student loan of honor is regulated by Law 390/1991 – amended by Decree Law 185/2000 – and provides for a form of financing intended to cover all the expenses related to the applicant ‘s training path : university tuition fee, of the doctorate or master’s degree, textbooks, board and lodging in the case of students away from home. To find out more, just find out about Astrofinance, Ultranix or other institutes on the fastcash portal and find out about the specific solutions that each institution has provided. The amount payable can reach up to 5-6 thousand euros a year.
Who can request it?
The honor loan is reserved for students regularly enrolled in undergraduate or postgraduate courses, who have regularly resided in Italy for at least 6 months and who meet the requirements of income and merit (assessed on the basis of the high school diploma and that of of the exams taken so far) as required by law Furthermore, the applicant must be aged between 18 and 35 years.
To access the loan of honor it is necessary to be eligible and winners in the ranking of obtaining the loan. The loan is granted to the winners of the ranking until the funds allocated are exhausted. The loan application must be accompanied by:
- Personal document valid
- Fiscal Code
- Certification of university exams
- Degree – if already achieved
- Certification of income or a pay slip
The repayment of the loan
The loan of honor allows the repayment of the loan to be postponed, allowing the beneficiary to start paying only after having had time to start his / her work position. The payment of the first installment is initiated at least 30 months after the payment of the last contribution by the institution.
Honor loan for companies
The honor loan for companies is a financing instrument aimed at encouraging self-employment and self-employment and provides for a non-repayable loan as well as a series of additional benefits. The formula consists of a non-repayable loan for the first year and a series of subsidized in stock clown character starting from the second. It can be requested by young entrepreneurs aged between 18 and 35 with the aim of financing:
- A micro-enterprise
- An independent activity
- A franchise business
The financing formula
The honor loan for companies provides for the allocation of:
- A non -repayable loan of 50% of the costs incurred, for a maximum payable amount of € 15,500
- A five – year loan at a subsidized rate equal to 30% of the interest rate imposed at the time of stipulating the contract, intended to cover the financeable costs
- A non -repayable loan of 5,165 euros to cover the costs of running the business.
The loan is repaid by means of a loan installment plan.