A credit without proof of achievement is particularly interesting for students, also because of the extremely favorable conditions that such a loan, which is considered an educational loan, entails. But getting a loan without proof of performance is not that easy. Most banks require either a certificate of enrollment, a semester certificate or some other university confirmation, which usually has to be submitted by the fifth semester.
A loan of this type is an investment for both sides
A credit without proof of achievement for students, which they would like to take up as an educational loan, represents an investment for both the borrower and the lender. The banks know that students have good chances of being able to pursue a high-income job and trust it so also the creditworthiness.
If such a loan is then applied for by the borrower without proof of performance, the bank has no evidence that the borrower is really studying. Therefore, the chances are extremely unfavorable for students who cannot provide proof of performance.
Alternatively, look for private individuals
Anyone who is in the unfortunate situation of not being able to obtain a loan without proof of performance from the desired bank, as this does not recognize the borrower as trustworthy enough, should definitely look around for an alternative. These can be found in the form of private individuals who act as investors.
If someone, as a private lender, agrees to grant a loan without proof of performance, you also have the guarantee that the requested loan amount will be paid out in full. The conditions for students are often identical to those of the banks due to their educational status. Other alternatives with regard to a credit without proof of performance are programs and advisory groups that have addresses of investor associations and other potential lender groups.
Proof of achievement is always the best alternative
Since it is generally not a problem to obtain proof of performance for the loan, you should use this opportunity, even if the bureaucratic efforts at the university and the bank may not be small. Because it is always better to have a bank as a lender because it has to comply with customer-protecting laws and rules. However, even if proof of performance has been provided, the bank does not necessarily have to be prepared to grant the desired loan.
Because to whom the bank grants a loan is absolutely free. For this reason, it is important during the preliminary discussion to make the most serious impression possible, so that the chances of finding acceptance from the bank increase and both sides can be satisfied in the end.