NGB Consulting partners mainly with two banks that provide funding to students traveling on the Work and Travel USA program with a J1 visa
We know that going on a Work and Travel program involves expenses that can put a strain on the family budget. So if you have decided to go but don't have enough money to cover the program fee and/or the plane ticket, don't hesitate – take advantage of the specially designed loans, which come with a 12-month grace period and will meet your needs as closely as possible. The loan can cover the program costs and the plane ticket, and even provide you with pocket money for the first days after you arrive in the USA.
You don't need to invest your own money before you leave, and when you come back you can repay the whole loan right away, which will significantly reduce its cost.
Go on Work and Travel and pay only after you return!
Allianz – student loan
You can find the general terms of the Work & Travel USA 2020 loan here:
Interest rate: from 8.40% variable, based on the Bank's base lending rate for BGN!
- Loan amount: Up to BGN 10,000
- Grace period: Up to 1 year
- Loan term: Up to 72 months
No principal or interest is paid during the grace period. The accrued interest is payable at the end of the period together with the first installment.
Bonuses:
- A U.S. dollar current account into which the refunded taxes withheld from your pay on the WAT USA program are received – tax refund.
- Members of the borrower's family, their parents or the guarantor can benefit from discounts on Property insurance with Allianz.
- APR for an amount of BGN 10,000, a term of 72 months (12-month grace period) and including the monthly fee for the Allianz Academica package – 9.76%
Collateral:
A parent or relative of the student becomes a co-borrower. For loans over BGN 7,000, 1 guarantor is required.
PAID PRODUCT ALLIANZ ACADEMICA
Current account: This is a basic banking product, required for carrying out all banking operations.
Allianz mobile banking: Banking via mobile phone
Debit card with chip for students
Who can take out a loan?
Any student approved for participation (regardless of the form of study) who has signed a contract with NGB Consulting can apply for a loan. The borrower must be an adult Bulgarian citizen:
- A student at a Bulgarian college
- An admitted student at a Bulgarian university
- An admitted student at a university abroad
Documents the student needs to apply:
A copy of the Work & Travel USA participation contract or voucher
A certificate from the university or an academic transcript, a copy of the student's ID card and the first and last pages of the student record book
Expressbank – Student loan
TI loan – a student loan you can use to finance: tuition and education fees in Bulgaria or abroad; everyday expenses; travel; work & travel programs and more.
- Promotional interest rate: 7.77% in BGN and EUR, for amounts over BGN 2,000 and terms over 24 months, plus 50% off the approval fee.
- Loan amount up to BGN 15,000 or the equivalent in euros
- For all forms of study – full-time, part-time, distance learning
- Spend the money on whatever you want – no documents required on how the loan is spent
- No complicated procedures – you receive the funds in one lump sum
- Grace period on the principal – up to 4 years
And more…
you get the free TI Package for students, which includes:
- a current account with no monthly fee
- a Debit MasterCard with no annual fee
- BankOnWeb online banking free of charge for the first year
- For more information, visit the Expressbank offices