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Credit in training: How trainees can make money

Summary

Are you a trainee and need a loan for training? With a little luck, you might get some cash from the bank too. To do this, however, you have to meet a few requirements. A loan in education is not […]

Credit in training: How trainees can make money.  Apprentices can also receive a loan (Source: Thinkstock by Getty-Images)

Are you a trainee and need a loan for training? With a little luck, you might get some cash from the bank too. To do this, however, you have to meet a few requirements.

A loan in education is not uncommon

Of course, it always depends on how old you are exactly and how high the loan amount should be. All banks are happy when they get new customers. In any case, you must be at least 18 years old and have a steady income. The higher the income, the higher the loan amount. That is the simple rule. (Compare loan costs)

Guarantee for no income

If you have no income, you can provide a guarantor. In an emergency, if you cannot pay, they will pay the installments. A basic requirement is a clean Schufa, which is always queried in Germany. If you already have an entry, you should see to it that it is removed as soon as possible. Attention: Under no circumstances should you have your Schufa profile completely deleted. If you do that, you will never get money again. Only the creditor can ensure that entries disappear prematurely.

As an apprentice, apply for a loan in training

Usually, if you want to borrow the money, you will also need a checking account. In the best case, you have this at the bank where you take out the loan. As a trainee, you should have one because your salary will be transferred there. If you apply for the loan in college and still live at home, please consider low interest rates. If you want to move out later and still have to pay the loan installment, it could be dearly.