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Many students may end up having to pay large deposits for apartments, finance their exchange stays abroad, or need to buy a new study computer if the old one breaks down. As a student, however, it can be difficult to find room for maneuver in the budget to finance these expenses with just one SU as income. However, there are also other ways in which you as an 18-year-old student can afford the essential but also expensive investments such as an exchange stay. In the writing below, you will be introduced to the possibility of taking out a loan at the age of 18 , and not least how this is done responsibly.

Different types of loans

As an 18-year-old student, you have various options for borrowing money. However, for the sake of good order, it should be emphasized that taking out a loan is certainly not the only way to afford what you dream of. What other options you have, as a student, we will get into later in this writing.

However, if you have been going and considering whether a loan could be the way forward for you, we would recommend that you take a look at the options below for you as a student.

• Bank loans
• Online loans
• SU loan

Common to all of the above is that you should make use of a budget form before taking out a loan. It is important for you to be able to keep track of your own personal finances.

We all know of an ordinary bank loan, but for many young people it may seem like a more serious form of loan, as one will often associate this type of loan with the purchase of a house or car. However, this is not the case, as several banks also offer loans targeted at young people. However, the process of a bank loan can take time, and if it is a large amount you want to borrow, you may end up having to provide a security for the loan.

Another option is the online loan, which is often associated with fast-paced loans of smaller amounts. The various online loan companies advertise with a faster set-up process, and you will typically receive the borrowed amount in a very short time.

A final example of a loan type for you as a student is a SU loan. This type of loan is only offered to those students who receive SU and who are in the process of studying. Many students make use of this type of loan as it often has lower and more favorable interest rates. An SU loan can be especially helpful for you who want to go out and travel on your exchange stay but who do not have the savings for it.

For all the above examples, you as a student are also of legal age - that is, you have reached the age of 18. If you take a look at the various online loan companies, it will quickly become clear that loans 18 years are the minimum age for taking out a loan.

Borrow money responsibly

If you are interested in a loan for 18 years, it is important that you have first familiarized yourself with how taking out a loan works. Many people are of the belief that you can take out a loan, regardless of the financial situation you are in. However, this is not the case, as you as a borrower must also be able to repay your loan, and for this reason must have some air in his budget to be able to do just that. If you are in doubt about whether your budget allows the repayment of a loan, it may be helpful for you to find a budget template that can help you create an overview of your income and expenses. A budget template can, in addition to contributing valuable learning about finance, help you find out if an 18-year loan is the way forward for you.

If you want to know more about how to make a good budget that fits into your particular finances, there are several banks that offer you learning about economics as part of their advice. This can be especially valuable for you who have not yet made a budget for your finances and who need guidance on this.

A loan is not your only option

As mentioned earlier, it is important to point out that a loan, whether it is in a bank oronline, is not the only option for you as a student. Many young people opt out of taking out a loan, simply because it is cheaper to save up for, for example, a stay abroad themselves. In this connection, the aforementioned budget template will also be helpful, as with a good budget you will have a good opportunity to save money up to what you go and dream about. For many students, however, it can be difficult to save up for the meager SU, and in this connection we recommend that you look for a good student job that can help to add a little to the savings. Saving on your own is a free way to afford what you go and dream of, understood in the sense that you are not forced to pay interest or fees, as is otherwise the case with a loan.