How to discuss with your parents about study loans

How to discuss with your parents about study loans

One of the important steps you need to go through when you want to study abroad is to discuss all the necessary details with your parents. Together you need to establish: the study budget, accommodation information, living costs, possible funding opportunities, and many others.

However, initiating a conversation about loans with your parents might seem quite difficult. Here’s a short example:

Student: “Mom, I’ve been thinking of taking out a student loan to help with my college costs.”

Parent: “Have you done your research? What options have you found?”

Student: “Yes, I’ve spent quite a lot of time looking for the right option. I’ve researched repayment plans and interest rates.”

Parent: “Your university also offers some scholarships.”

Student: “Yes, there are a few. I’ve applied for them, but I might need loans for even more funding. FINS offers loans of up to 25,000 euros; I can use the money to pay for some of the tuition fees, accommodation, or living expenses. Let’s calculate the study budget together to see how much money I would need. It only takes a few minutes.”

Parent: “Sure, let’s see.”

Now it’s your turn! Build your own budget for studying abroad. Discover more details here. 

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