Private financing for college: 5 advantageous options

Discover the most advantageous private financing options for college

Private college financing: have you heard of it?

The Student Financing Fund (Fies) is certainly the best-known public student financing option. 

However, there are other alternatives that may also be advantageous for you who want to take a higher education course and were unable to obtain Fies.

Most of the time, in order to request the service, you need to have a link with the bank or credit institution.

To help you with this issue, we will explain everything about the subject and show you the main private financing options for college.

Read on to find out more.

What is private college financing?

Private college financing works like a loan.

Unlike Fies, the money borrowed through private financing comes from a financial institution, such as banks or specialized companies, instead of being subsidized by the government.

After hiring, this institution will transfer the financed amount of the monthly fees directly to the university.

The amount borrowed must be paid back by the student after he/she completes his/her degree.

In general, institutions offer an extended period after completing the course for students to pay the installments.

It is important to remember that depending on the type of student financing for college, the scholarship can be full or partial.

What are the fees and payment terms?

The interest rates applied to this type of credit are usually lower than those of a traditional loan. However, they are higher than those of Fies.

The advantage is that private student loans offer a very advantageous period of time for the student to pay off the entire debt.

General conditions, such as fees and payment terms, vary depending on the institution.

Private college financing: what options are available?

If you want to go to college but cannot apply for Fies, know that there are other alternatives.

After all, more and more possibilities for student financing are emerging in Brazil.

Below, check out some of the most advantageous options:

1. PraValer

Pravaler is a student financing platform that works as a kind of private Student Financing Fund (Fies).

Among private financing programs, Pravaler is one of the best known.

One of the reasons why this financing is so sought after by students from all over Brazil is the reduction of bureaucracy in accessing credit.

In other words, prior approval of financing is done more quickly than with Fies, for example.

Pravaler pays off the semester's installment for the college where the student studies and also creates easy ways for the student to pay these installments later.

It is also important to mention that to take out Pravaler credit, you do not need to have taken the National High School Exam (ENEM).

On the Pravaler website, You can simulate the financing and find out how much you will pay per month.

The program has partnerships with several recognized colleges in the market.

2. Private financing for college Bradesco

Student financing for college is one of the services offered by Banco Bradesco.

The bank offers financing of 100% of the course.

The student has 12 months to pay the monthly fees for one semester, and the first payment is made 30 days after signing the contract.

Whenever a new semester begins, the student can apply for new financing.

Installments are automatically debited from your account.

If something unexpected happens, you can contact the bank to try to reach an agreement.

Visit Bradesco's student financing page to run a simulation and see the results.

3. Santander student financing

Banco Santander's Undergraduate Health financing is also an advantageous option for those who want to obtain student financing for college.

As the name suggests, this service is aimed at people who want to take a course in the health area.

The program is available to students of eligible courses from the 4th semester onwards.

Students can renew their funding each academic term.

Eligible courses are: Medicine, Physiotherapy, Nursing, Pharmacy, Dentistry, Veterinary Medicine, Animal Science, Nutrition, Biomedicine and Speech Therapy.

On the website itself, you can simulate financing.

4. CredIES

CredIES works in a very similar way to Pravaler.

Maintained by Fundacred, the credit has no interest rate. However, there is a monthly administrative fee. 

The rate corresponds to 0.35% per month calculated on the monthly payment.

CrediEs does not evaluate your Enem score, that is, there is only a requirement that you have been accepted into a partner private college.

This educational loan requires the presentation of a guarantor, who will go through the credit analysis process.

Basically, it works like this: you select the institution and level of education, inform the guarantor, send your documents and those of the guarantor and wait for the analysis by FundaCred and IE.

Regarding the main differences of CrediES, we can mention the fact that it is available to those with bad credit and the entire application is made online.

Any student can apply for financing, as only the guarantor's income will be analyzed.

On the FundaCred Portal you can perform the credit simulation.

5. Credits

Creditas offers secured loans.

In other words, you can use a property or vehicle as payment collateral and thus obtain lower rates.

Creditas is a well-known online lending platform on the market.

On the company's website, you can simulate your credit.

With the simulation, Creditas can perform an analysis and send a proposal. If approved, just wait for the money to be deposited into your account.

The entire process is online, from simulation to approval.

Conclusion

These are the main options for private financing for college.

Ideally, you should run a simulation on each of the sites so that you can find the most advantageous option for you.

To resolve any queries you may have about interest rates and payments, please contact the institution of your choice.