Here we have collected all the MFCs and MCCs that offer their services to students aged 18 or older. When choosing, consider the amount and term, interest rate, requirements for borrowers and other conditions.
Advantages
Loans are perfect for young people who almost always do not yet have a credit history
Often a microloan can be obtained without official employment
MFC and MCC, unlike banks, are less likely to refuse to lend money
Flaws
A student will not be able to obtain a loan for a large amount
Few organizations provide loans to young people
Even loyal organizations can refuse to issue a loan for certain reasons
Under what conditions are quick loans issued to students aged 18?
If a student urgently needs a certain amount of money to pay for tuition or purchases, he can contact the IFC or MCC and apply for a loan there. Many organizations accept and approve applications for microloans from them. The application can be completed online and money will be received via bank card, e-wallet or money transfer.
Typically, student loans are issued for a limited period and in a small amount. Banks can provide educational loans for a period of 1 year at a rate of 7%. To receive money, it is recommended to attach a certificate of academic achievement to other documents. High scores will increase your likelihood of approval. Consumer loans to students are issued against collateral or when parents join as co-borrowers.
An alternative option is a credit card. This financial product is much more affordable than a loan. A passport is usually sufficient for registration. The initial limit is small, but with responsible performance of obligations it can be increased. Choose cards with cashback and bonuses. This will provide additional benefits. Financial institutions are in no hurry to issue loans to students who rarely have a regular source of income. At the same time, this product is in demand. And since demand dictates supply, a number of microfinance organizations are ready to provide the service.
Students are often offered good conditions with a minimum rate and fast disbursement. MFOs always have a high approval rate, and often only a passport is enough to get a loan. You can submit an application online and receive money on your card. This seriously saves time.