OREANDA-NEWS. August 27, 2013. It is possible to conclude student loan contracts at SEB branches and over the Internet starting. After entering into the student loan contract, either contracts of guarantorship can be concluded with two private persons at a bank branch or via the Internet bank, or the student loan can be guaranteed with real estate located in Estonia.

The maximum student loan amount for the 2013/2014 academic year is EUR 1,920, which may also be applied for in instalments as needed. This academic year is the first when students who are going to attend a vocational post-secondary course lasting less than 9 months can apply for a student loan in half the maximum amount (EUR 960).

“There is a sense of awareness and responsibility among the student loan recipients and their guarantors, and it is likely that a student loan is not applied for unless it is actually needed.  This is why the number of student loans taken has decreased over the last five academic years. While in the last academic year of 2012/2013, the decrease in students who had entered into a student loan contract was slower than in the years before, then SEB’s number of first-time loan recipients was only 30% of the number of loan recipients served in 2007/2008,” notes Triin Messimas, Development Manager of Private Loans at SEB.

SEB will start transferring loan amounts into the accounts of first-year students from 1 October; more advanced students will receive their loan from 15 September, provided that they meet the conditions precedent to receiving a student loan. If the recipient of a student loan who has an existing student loan contract does not want the bank to transfer this year’s loan amount into his or her account or wishes to take the loan out in instalments, he or she is asked to notify SEB at the latest by 12 September. The application can be submitted via the Internet bank, by mail, or delivered to any branch of SEB.

In addition to student loans, SEB also offers students affordable everyday banking solutions. For instance, SEB offers a Youth Package to students, which includes an SEB ISIC Student card that has no monthly fees and functions as an official student identification card and bank card, as well as verifies your right to travel on public transportation, and gives access to numerous student discounts all over the world.