How to evaluate a loan for a Masters?

If you are considering loans to study a master’s degree in Guatemala or abroad, you should evaluate several aspects so that the payments do not affect your personal finances. 

Once the degree is finished, many professionals wonder how they could study a master’s degree if they do not have enough capital to do so, because even when they are working, it is difficult for their salary to cover their fixed expenses and also those of the graduate.

The option is to make use of loans to study a master’s degree, taking special care in choosing the one that suits you

money loan

But how to do it without embarking on an endless payment of interest and balance? First of all, you should know that although its destination is educational, it is considered consumer credit, that is, it generates the same interests as that used to buy things.

Here we present what you have to take into account and define exactly before making the decision to apply for an educational loan.

  • The amount: The amount borrowed, and what it covers (registration, semi-annual fee, materials, etc.)
  • Payment term: When you start paying (while studying or at the end), how many will be the monthly payments and how much each one.



What is the percentage of interest and if it is already fixed until payments are finished or if it will increase according to inflation.

  • Grace Period: Some banking or educational institutions grant a “grace time,” which is a few months after completing the studies during which amount has to be paid. It is very important that you ask if interest is still being charged at that time, and that you calculate the total amount of debt in the event that it is increased to capital after the end of the period.
  • Cost-benefit: If one of the objectives you pursue when doing the postgraduate degree is to get better employment opportunities and therefore a better salary, you should evaluate the desirability of applying for a loan, since it is very likely that the salary does not exceed The amount that was invested is not enough to cover the monthly debt. Now that, if the interest is personal, professional or service and independent of the income received, doing so for any of those reasons may be fully justified.

Facilities and opportunities available


There are many institutions that assist the situation of each person to make adjustments in terms of payments and interest amortization, as well as offer discounts when advanced payments are made to capital. You must be aware of promotions or changes that benefit you to shorten the term or prevent the debt from growing until it becomes impossible to pay.

If you are looking for answers to how to study a master’s degree without affecting your personal finances, consider asking for a personal loan, but analyzing its conditions as well as this solution does not end up being an important financial collapse.

With MoveOn loans, from Cream Bank, you have the best options to finance your projects: from consolidating debts, studying a master’s degree, starting your own business or making the trip of your dreams, MoveOn makes your goals possible today. Click here to apply for your MoveOn loan and don’t let money be an impediment to reaching your goals.