Students are not spared by the health and economic crisis that the country is going through: loss of a student job, cancellation of a paid internship, uncertainty about the possibility of finding seasonal work... Since the end of April, BNP Paribas has been offering them an interest-free loan of 5,000 euros and the possibility of suspending their student loan payments.
Students hit hard by the crisis
As a result of the epidemic and containment measures, thousands have lost their side jobs. They find themselves deprived of an income that sometimes barely enabled them to feed themselves. Some have student loans to repay, others find it impossible to find an internship and thus validate their year, and not all benefit from family support.
In response to this situation, the government has announced the payment of an exceptional grant of 200 euros to the most precarious students. Students must be able to prove that their income has fallen due to job loss, or the cancellation or interruption of a paid internship.
Credit deferral and zero-rate loans
For their part, several banks have launched offers aimed at students in difficulty. BNP Paribas, for example, has been offering a 0% loan of up to €5,000 since the end of April , with no parental guarantee or application fees. Repayment can be made over a period of 4 to 60 months, and the first monthly payment can be deferred for 12 months.
At the same time, BNP Paribas offers students who have already taken out a loan the option of suspending monthly payments for a maximum of 6 months, in three-month periods, renewable once. This deferment also applies to loan insurance. The aim is to enable the most precarious young people to replenish their cash flow and avoid falling into over-indebtedness.