All About Student Loans for Studying in France: What You Need to Know

 

Reasons To Get A Student Loan In France

Paying tuition fees in France and covering living and miscellaneous expenses are the main reasons why students seek financing through educational loans.

No doubt that the study cost in France is relatively low compared to other European countries, but on the other hand, the rising accommodation costs, travel costs, etc, necessitate students to take an education loan for France.

Tuition fees in France usually lie in the range of 1,500 EUR to 6,000 EUR annually, and the living expenses in France range between 1,000 EUR to 2,000 EUR annually.

Educational loans help students to manage and meet financial needs hassle-free and boost their career aspirations.

On the whole, France's student loan opens the doors to academic opportunities for students who don’t have a lot of savings to fund their higher education in France.

Different Types Of Education Loan In France

There are mainly two types of student loans in France, namely secured loans and unsecured loans. Let’s understand them in detail.

1. Secured Loans:

As the name suggests, secured loans are the ones that are secured with collateral. Such types of education loans require collateral as security and generally offer lower interest rates.

2. Unsecured Loans:

In contrast to secured loans, no collateral is required as security in unsecured loans. Such types of education loans usually offer higher interest rates and are provided by Non-Banking Financial Companies (NBFCs) and private banks.

 
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