Good news for the employees of the Sicilian Region who can enjoy subsidized loans to help their children enroll in university and allow them a good study plan. To allow it was the extraordinary commissioner Falvio Bellomen, who signed the regulation published by the Pension Fund, which in turn was approved by the Finance Law.
The offices explain that the funds had been available for some time thanks to the Region’s pension fund, where the contributions from the regions end, the novelty now is that new opportunities have arisen and the Fund can provide two types of subsidized loans : those for general purposes and that to allow a course of study and enrollment in the university of their children.
General subsidized loans and university students
General subsidized loans can be of two types: based on duration and amount. With regard to three-year loans, they can not exceed the threshold of 10 thousand euros. The six-month Interbank rate with a rate of 200 points is applied to the subsidized amount. Let us not forget the “penalty” that the employee will suffer. In fact, it will pay a withholding tax of 0.50 percent for administrative expenses, while 1.5 percent will be a contribution to a risk fund.
According to the offices of the Fund is a low penalty compared to all other loans that come to 6.7 percent, compared to four percent of this type of subsidized loans. For those who want something different, there is a multi-year subsidized loan, to be reimbursed by deduction from salary or pension. It can also be requested by the employee who has a fixed-term contract of not less than 3 years. The duration varies from 5 to 10 years and an amount exceeding 40 thousand euros can not be requested.
The annual interest rate of the six-month Interbank plus 300 points is also applied here. There is also a one-off payment of 180 euros for administrative expenses and 1.50 percent of the contribution to the provision for risks. It definitely improves the condition for employees who need to enroll their children in university courses, post-graduate courses or internships.
Soft loans for university students
The situation changes for the better, in fact on the gross amount the six-month Interbank rate is applied with an increase from 100 points up to 400, variable rate based on the monthly net salary received. For those who earn up to 1,500 euros the best conditions exist, above the three thousand euros the rate rises to the maximum.
In this case the duration varies from 5 to 10 years and at most the loans can reach 20 thousand euros. Rolando Gregorio, manager of the Fund, explains that new opportunities are being considered for the regional authorities and to make them even more easier on loans, he concludes by saying: “Soon we could launch the sale of credit on the mortgage already issued by the banks. Those who retire today did not have a good leave. So a regional early retirement at 61 will have to wait until the age in which the requirement will mature, ie 67 years, then two years since the choice was voluntary and finally the sum will be paid in three tranches. The sale allows you to get a good result immediately in exchange by paying an interest rate “.