Your children’s studies will determine their future career and development. The Morphou COOP wishing to meet both your and your children’s needs is offering the student loan “Socrates” to give solutions to possible financial difficulties you are facing.

The student loan covers the following:

• Tuition fees
• Various student expenses including food and accommodation, traveling, books and others

Advantages of our student loan:

• An attractive floating rate
• It offers the possibility of paying only the interest during his/her studies

Characteristics and benefits of the student loan:

• The amount of the loan. The maximum amount offered is ?50.000
• The loan will be given in stages or annually depending on the cost of the studies
• Way of paying your loan

It is possible to pay only the interest during the period of studies. You are also given a period of grace up to 1 year after the completion of the studies.
The maximum payout period is 5 years after the loan has been granted

• Payment period. The loan could be settled up to 20 years after it has been granted
• The interest rate is determined by the basic interest rate of the market at that time to which the floating rate is also added

Necessary guarantee to ensure a loan:

• Loans over ?6.000 are secured through mortgage (65% of the estimated value of the mortgaged property is granted)
• Loans up to ?6.000 can be secured only with guarantors
• The mortgaged property must be insured and the borrower should have a life insurance