Banco de Bogotá announced yesterday that it approved 7,158 student loans in 2016. The financial services institution headquartered in capital grants educational loans through it Credestudiantil segment and says that it hopes to continuing funding the studies of all Colombians in need of financial support.
“We provide financing alternatives for those who are not able to pay for their studies, preventing them from interrupting their academic training process,” said Ana María Barbosa, marketing manager of Banco de Bogotá.
The minimum loan offered is for 700,000 pesos, and Crediestudiantil loan terms have a fixed monthly interest rate of 1.7% designed to ensure students will have a clear picture of their future debt that isn’t subject to fluctuating rates.
The application can be made at many leading universities and schools of higher education in Bogotá and does not require co-signer, said the bank. To apply, students must have a minimum income of 1.5 the legally mandated minimum monthly salary.