Italy - Guidance to Apply for Student Loan

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Procedure

Applying for the Government's Student Loan Scheme

• You should contact the office at the university where you plan to study to find out what services are available to you.
• Apply for the student loan
• Submit all the necessary documents

Applying for a Student Loan Banks

Many banks provide student loans for studies abroad in general. The banks can be from the students own country or the banks at the place of study.

Generally for the loans from the local banks require documents like proof of admission, mark sheet of the last qualifying examination, borrowers bank account statement, proof of income, brief statement of liabilities and assets, income tax assessment order of last 2 years and schedule of expenses. Student loans are available for all those courses for which the employment prospectuses are there.

It is often necessary to have a co-signer when applying for a student loan if you are studying abroad. This is because you probably wont be in a financial position to guarantee the loan yourself. The co-signer needs to be somebody who trusts you because they will be responsible for the debt if you fail to pay. In order to obtain a student loan in Italy, you are usually going to need a co-signer who is at least a resident in the country.

Student loans for international students in Italy are often provided by private institutions. In order to find out exactly what is available for you, it is recommended that you contact the financial aid office at the institution where you plan to study. It is a mistake to just assume that you wont get a loan. The Italian government needs is keen to attract more foreign students, and universities do their best to help students overcome any financial hurdles.

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Required Documents

• Application form
• Identification documents
• A copy of your passport

Office Locations & Contacts

Please list down the office locations that can be approached for applying. External links can also be used specifying office locations.

Eligibility

Students are eligible if:

• they are enrolled in the first 3 years with at least 120 credits;
• they are enrolled in the second 2 years of specialization;
• they are enrolled in a PhD programme;
• they are following a specialization course or other post-graduate programmes;
• they are enrolled in a foreign university for a second degree.

Fees

Explain the fees structure which is required for obtaining the certificate/document.

Validity

Explain the time until which the certificate/document is valid.
e.g. Birth Certificate Valid Forever

Documents to Use

Please attach documents that can be used by people. e.g. links

Sample Documents

Please attach sample completed documents that would help other people.

Processing Time

Please explain processing time taken in obtaining the document/certificate.

Related Videos

Videos explaining the procedure or to fill the applications. 
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Instructions

Unlike many other European countries, scholarships and student loans/grants are available to EU students on the same basis as Italian students, although eligibility is usually merit-based or means-tested and all students arent necessarily able to access financial assistance. More information on this can be found at the DSU office (although the site is mostly in Italian). Many university websites also have some information about financial aid on their sites.

Required Information

• Your data
• Your study data
• Data from your parents
• Declaration
• Signature

Need for the Document

If you are not eligible for a scholarship or grant, your best solution may be to borrow the money.

A student loan differs from the usual loan you get from a bank because you usually dont have to start paying back the money until after you complete your studies (there is usually a grace period of up to a year). This means you can use your new qualifications to get a good job so you are in a better position to repay.

The terms of a student loan also tend to be generous in that you have a reasonably long period to repay the money.

Information which might help

All international students are entitled to the same student assistance services as Italian students, on basis of the same requisites of financial means and/or merit. This applies to scholarships, student loans, housing assistance, refectory meal tickets and fee waivers.

These services are managed by the DSU office (Diritto allo studio universitario).

Alongside scholarship and financial aid information, DSU offices will also provide other services such as counselling and information on extra curricular activities, sport, transport and other practical matters.

You should contact the office at the university where you plan to study to find out what services are available to you.

Other uses of the Document/Certificate

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.

External Links

Ministry of Education, University and Research Loans

Government of Italy

Website of the Prefectures

Rules on the right to higher education

Useful websites

Study in Italy

Others

Students who meet the merit and income, may be granted by companies and credit institutions, as an exception to the law and statute, loans d ' honor intended to meet the needs of economic order related to the frequency of the studies.

The honor loan is repaid in installments, without interest, after the completion or permanent interruption of studies and not before the start of gainful employment or self. The rate of repayment of the loan cannot exceed 20 percent of the income of the beneficiary. Elapsed event five years after the completion or interruption of studies, the beneficiary has not initiated any work is obliged to repay the loan and, limited to the period after the completion or final interruption of studies, the payment of interest at the legal rate.

The regions with an ordinary statute governing the way for the granting of student loans and, within the limits of the budget funds, shall grant subsidiary guarantees on the same and the payment of interest, on the basis of criteria defined by the Minister of Treasury in consultation with the Minister, after consultation with the Standing Conference for relations between the State, regions and autonomous provinces. The conventions concerning the regions stipulate with companies and banks are to govern:

• the terms of payment by installments of the loan in relation to the beginning of the courses and the levels of profit;
• the penalties paid by the company or of the credit for the delay in the delivery of the loan installments.