If you are a student, it might be a good idea to consider an SU loan – even if you do not have the money right now. This is what the call from several experts sounds like, but why should you actually take out a loan if it is not necessary? The explanation is that you are likely to need to take out a loan at some point in your life, and why not take advantage of the favorable SU loan that you have while studying? In this article we explain why the SU loan can be a good idea – if you think so.
Loan now – installment later
When reaching out for an SU loan, do not start paying off the loan right away. In fact, you should only start repaying your loan on January 1, one year after the end of the year in which your education ends. Ie that if you complete your degree on June 30, 2017, you must first begin repaying your SU loan on January 1, 2019.
Low interest rates
Even if you do not pay off the SU loan while you are studying, interest on the loan will still run. Fortunately for you, the interest rate on the SU loan is also, to say the least, favorable. While studying, the interest rate will be fixed at 4%, but upon completion of the education, the interest rate will fall to the discount plus a supplement of no more than 1%. The discount is Danmarks Nationalbank’s so-called signal rate and it has remained at 0.00% since July 6, 2012. In other words, the interest rate on your SU loan after graduation will be 1%, if the discount does not change.
Save your money
Although it may be tempting to use the SU loan to repay life a bit, this is not the scam. If you cheat the money on things that have no real value, then after graduation you will simply be left with a loan to be repaid without you getting anything useful out of it. The idea itself is to think strategically and moving forward and instead open a separate account where the loan is put in every month. You have to keep this account until you want to one day buy a house or apartment, where you can then use the SU loan to pay the payment in connection with the purchase of a home. Instead of ending up with an expensive bank loan, you will instead have an SU loan with an interest rate that you will not find lower elsewhere.
Think before you borrow
Of course, you shouldn’t just take out an SU loan without thinking carefully first. If you intend to use the loan option strategically, as we have described in this article, be sure that you can stay away from using the SU loan until, for example, you invest in a home – unless you do not have another choice. If you feel you need to start using your SU loan, you may want to get a student job where you can make money next to the study so you can save up your SU loan.
If you need more information about SU loans, you can read more about this at SU, where you can also apply for the loan.