Student loans in Switzerland

Are there any Swiss banks that offer student loans that can be paid back after I complete my education?

Hi there,

Most Swiss lenders provide personal loans for education and some even offer specialized loans for students (like Spendit).

But as a general rule, Swiss lenders only give loans to people who are employed at least part-time.

Assuming you are employed, you can find all loans which can be used to finance education by selecting "Education" under "Intended use" in the interactive personal loan comparison on moneyland.ch.

If your studies make it difficult or impossible to hold a job simultaneously, you may be able to get a loan via a peer-to-peer (p2p) lending platform. These portals let you appeal directly to investors and you may get a loan if investors think you are creditworthy.

Best regards from Moneyguru

More information:
Personal loan comparison

I have been working for a while now and I want to take a degree program to up my career opportunities.

The continuing education I plan to take costs a lot of money. Is there any way I can finance my continuing education with a loan? Is there such a thing as continuing education loans in Switzerland?

Greetings.

You can quickly and easily find loans for continuing education using the moneyland.ch personal loan comparison.

Simply select "Education" as your intended use of the money. Only loans which can be used to pay for education will appear in search results.

Note that lenders still require that you be employed and have a regular income, so you will need to remain employed alongside your studies in order to be eligible for loans.

Some lenders (like Bank-now) offer special loans which can only be used to finance education. These are included in the comparison.

Best regards from Moneyguru

Hello. I would like to get a loan to pay off some debts and I haven't had much luck because I am still in my first year of higher education.

Could you help me find a loan? I would appreciate any feedback. Thanks.

Hi there,

In addition to age requirements (you must be at least 18 to get a loan), your job situation is also key to getting a loan. If you do not have a job you will not normally be able to get a personal loan from a bank or loans provider.

However, a number of peer-to-peer (P2P) loan services now operate in Switzerland (Splendit, for example). These services connect borrowers with potential private lenders. Criteria for being listed as a borrower are generally less stringent than those used by conventional lenders.

You can use the interactive personal loan comparison on moneyland.ch to quickly find loans which you may be eligible for based on your individual situation.

Best regards from Moneyguru

Hi Moneyland,

I am Swiss national but grew up in Slovakia with dual nationality. I am currently studying, working and living in the UK. I have noticed that student loans are available only for students living in Switzerland, which I am not. 

I am soon starting with my master studies at the Imperial College London and I am looking for options of student loans to pay for university fees and living costs in London. Could you please advise me about the options of student loans for Swiss nationals living and studying abroad? 

Really appreciate all your help and understanding.

Kind regards,

Hi, 

Most Swiss lenders provide personal loans for education and some even offer specialized loans for students (like the Credit-now Diploma loan from Bank-now). But as a general rule, Swiss lenders only give loans to people who are employed and live in Switzerland.

There is another possibility though: You may get a loan on Swiss peer-to-peer platforms like Splendit (splendit.ch).

Best regards from Moneyguru

More on this topic:
Personal loan comparison

Good day

I have recently been accepted to study at BHMS (Business Hotel Management School Luzern in Switzerland) this coming October. I am extremely excited about this but currently the biggest problem I am facing as a South African is the money problem.

I am 32 years of age and have been working in hospitality since I was 18. The reason for applying to this school of course is all the great reviews I have read and heard of. It is also my dream to finally travel the world and with a diploma from this school I see no reason why I would not be able to do just that.

I just applied for the 1 year diploma course as I intend to first pay of the first year loan and then continue studying. This school follows a 6 month studying period, followed by a 6 month paid working period. This working period of course will assist me in paying of this student loan.

My question to you is thus, can you assist me with a student loan as a South African? If you are not able, is there any institution that you may know of than can assist?

Kind regards

Hi,

To get a personal loan from Swiss loan provider, you have to be employed in Switzerland and receive a regular income. A fix salary is even a necessary condition for students looking for a loan for educational purposes.

There may be rare exceptions (which is not well established in Switzerland though) through peer-to-peer-platforms. An example is Splendit (splendit.ch).

Maybe you can just ask your school for help?

Best regards from Moneyguru

More information:
Personal loans in Switzerland

It is also worth noting that Swiss cantonal governments provide interest-free student loans to students who meet certain criteria.

There are Swiss banks which offer student loans without employment. These offers are generally limited to students at specific educational institutions. For example, these student loans may only be granted to applicants who study at Swiss universities and colleges, or at schools in a specific canton on region.

The cantonal bank of Valais, for example, offers a 3-phase student loan to Swiss residents between the ages of 18 and 30 (at the time of application) as part of its student banking bundle. Applicants must study at a university or college (Swiss or foreign) recognized by the State Secretariat for Education, Research and Innovation (SERI).

Interest payments and loan repayments are deferred during the first phase and you earn interest on the unused portion of the loan held in your student account. The second phase begins once your education is complete. During this phase, you pay interest on the loan but you do not have to make loan repayments. This allows you time to find employment before having to repay the loan. During the third phase (this generally starts 5 years after you receive the loan), you repay the loan principal.

Bank Linth is another example of a bank which offers a 3-phase student loan. However, these loans are only granted to students at the Hochschule für Technik in Rapperswil (HSR).

More on this topic:
Interactive personal loan comparison

Hello,

I am a French citizen who is currently residing in Cyprus (family) who will be going to EPFL to do my bachelor (first year) but due to the pandemic and family financial issues, I will not be able to finance myself fully.

Is there a bank, company, etc, who will give out loans to EU citizens to study in Switzerland? I am searching online but cannot find any, only for Swiss citizens.

Any help is greatly appreciated! Thank you.

Good day

Swiss consumer loans (including student loans) are only available to people who live in Switzerland.

Consequently, if you are not yet registered in Switzerland, you cannot take out a traditional Swiss personal loan. 

Scholarships or similar forms of financing are a different matter. Here you would have to contact the appropriate educational institutions.

Best wishes

Once you are resident in Switzerland, take a look at the Crédit formation student loan from Banque Cantonale du Valais. This is a three-phase student loan, where you receive a line of credit in the first phase (while studying), only pay interest in the second phase (while finding a job) and then amortize the loan in the third phase (when you ideally are earning an income). I'm pretty sure it covers the EPFL.