In order to position yourself on the job market today, it is imperative to continue training at any age. However, since further training is usually not only time-consuming but also quite expensive, there are various options for obtaining state support for further training and for obtaining an inexpensive loan for further training. Good contact points for a loan are the house banks, the Lite Bank and above all the Cream Bank.
The intended loan for employees
This is a loan for further training, which is financed by the Cream Bank. This loan is intended for employees who have already successfully completed vocational training with a public law examination. This advanced training loan is about giving professionals the path to career advancement. The funding limit for this loan for further training is USD 10,226.
It is attractive for those interested in further training that 30.5 percent of this sum is subsidized by the state. The rest of the loan amount can be financed at a very low interest rate via a loan for further training with a borrowing rate of 3.48 percent per year.
It is also important here that under certain conditions there is the possibility of receiving subsistence grants for the period of further training. What is also interesting about this loan for further training is that for people who become self-employed after completing further training, there is the possibility that 66 percent of the remaining loan will be canceled.
Continuing education loans
The Lite Bank and Agree Bank in particular have very good offers for a loan for further training. For example, Haspa currently offers a training loan with an effective annual interest rate of 4.11%. This loan is particularly interesting for higher earners who are not entitled to an award voucher.
As a rule, both the Lite Bank and Agree Bank and the house banks grant this loan, because normally the salary increases after further training, so that the repayment is also relatively easy. Nevertheless, an indefinite employment contract and a high and regular income corresponding to the loan amount are the basic requirements. And like all other loans, a negative Credit Bureau entry is an exclusion criterion.
However, before deciding on one or the financing, you should not refrain from thoroughly considering the state subsidies such as B. to inform further education savings in order to make the time of further education as cost-effective and carefree.