The health crisis has put a spotlight on student precariousness.
Locked in their rooms to follow the courses at a distance, without the possibility of working extra in bars, restaurants or cultural places to earn some income, some young people have accumulated psychological and financial distress.
Faced with this unprecedented situation, the State has decided to step up its aid to the most vulnerable as part of the recovery plan.
The accessibility of the student loan guaranteed by the State, managed by the public investment bank (BPI), has thus been enhanced. “We had a budget of 35 million euros since its creation in 2008, then 80 million euros last year. In 2021, it will be around 400 million euros, enthuses Bertrand Fontaine, director of guarantees at BPI. We will be able to respond to more requests. It is a strong gesture which is carried out to support the youth. "
The loan limit has also been increased from 15,000 to 20,000 euros.
Its repayment can be spread over two to ten years.
The use of funds is at the discretion of the client, there is no proof to provide other than to prove his status as a student, follow a course recognized by the State and be between 18 and 28 years.
This device is intended to allow all students to be able to take out a loan to finance their studies.
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It is aimed in particular at all young people who cannot have a family deposit to take out a classic student loan. The State therefore takes the place of parents. Last year, 7,464 young people benefited from it, according to figures from the BPI. “With the larger envelope and the increase in the ceiling, we can expect five to seven times more beneficiaries. We do not want a student to be able to say to himself that
I cannot have access to a loan
and give up continuing his studies, ”insists Bertrand Fontaine.
At present, only five banking establishments distribute this loan: the BPCE group (Banque Populaire et Caisse d'Épargne), Crédit Mutuel, CIC and Société Générale.
New banks are expected to join in the dance in the coming weeks.
"We offered it to all credit institutions, to reach more young people," said the director of guarantees.
Especially since the device will be open all year, until then it was only available two or three months, at the time of the start of the school year.
"
A surge of requests expected
Société Générale, market leader, expects a real wave. The bank has doubled its overall envelope for student loans recognized by the state. “The device has always been eagerly awaited, it will start again very strongly in June. For those who are not lucky enough to have parents as a deposit, this is the key! », Emphasizes Christophe Baniol, director of the individual market.
The ceiling of 20,000 euros will open the floodgates. Until then, the bank could not exceed the limit of 15,000 euros, to distribute more loans guaranteed by the state. “With us, the average student loan is 19,000 euros. With the old ceiling, we could not meet all the requests, explains Christophe Baniol. However, at a time when young people are hit hard by the health crisis, the loan guaranteed by the State represents a real opportunity for students in difficulty. Helping young people is a subject that has always animated us, it is in our DNA. We will step up our efforts. "
