A loan for private school would usually be a conventional installment loan, unless a financing with the private school itself is agreed. If parents want to send their own children or their own children to a private school, they usually have to have the necessary income.
Parents opt for student loans for their children
Since school education takes place free of charge via public schools in Germany, a private school is seen as a pure luxury good, even though the education path through private schools promises better career opportunities and first contacts for working life. Due to the great competition on the job market, however, more and more parents are opting for a private school, which actually lacks the money for the monthly or annual fees.
Nevertheless, investing in the education of the child is a good idea, which is usually not supported by the banks in this case. There is therefore no bonus in the credit check, just because the parents actually quite unselfishly have the best for their child in mind. If the creditworthiness of the parents is sufficient, the loan will be approved.
If this is not the case, a rejection usually occurs. Then there is only the way to a public school or private loans, which, however, are so highly estimated by the multi-year education that they can hardly be “just so” borrowed from friends and relatives.
Does it really have to be a private school?
The way to the private school in all honor, promise the general school system in Germany and the education through public schools good results. High school students with an appropriate NC can almost always enroll in their desired degree program, even if they may need to move to another location or even another federal state. Private students do not get too big a bonus at universities, but of course a private school education pays off in the economy.
As a rule, the private schools are specifically designed so that the student can lay foundations for his future career early on. A loan for the private school is still a luxury and must be treated by banks as such. Some banks offer special loans for such educational pathways, but these are mostly for later education or universities.
For the way to the 10th or 12th or 13th grade (new and old federal states) parents are usually only a normal installment loan available for credit for the private school.
Additional seizable capital can increase the chances of making a commitment, but it is never a guarantee. If necessary, parents only have the option of sending their own children to public schools.