Entering a medical school is the dream of many Brazilian students, but carrying out this project requires planning that goes beyond preparing for the entrance exam. With a six-year degree and an intense study routine, organizing in advance how to pay for the course can be decisive in ensuring greater peace of mind during training.

For those who do not have access to the Student Financing Fund (Fies) or are looking for other possibilities to pay for the graduationthere are private alternatives with different formats, payment terms and hiring criteria. The options range from paying some monthly or semester fees in installments to lines capable of financing the entire degree, with longer payment terms.

According to Kátia Pinto, director of Afya, a group with 32 medical schools in the country, the first step is to understand that choosing financing needs to be part of long-term planning. “Medicine is a long training and, therefore, the decision on how to finance the course needs to consider not only the portion that fits in the budget today, but the entire graduation period and the time expected to pay off the debt. It is important to know the conditions of each modality, compare scenarios and involve the family in this decision”, he states.

Below, the specialist brings together six guidelines for those preparing to study Medicine and evaluates financing alternatives.

1. Discover all available modalities

Currently, financial institutions, credit unions and specialized companies offer models aimed at higher education, including medical courses. There are options that allow you to finance the entire course, with payment terms that can reach 20 years, such as CASHME or ALUME, and alternatives such as EMCASH and Pravaler, which offer financing for up to 12 years with 100% digital contracting and the possibility of income composition between the student and up to two guarantors.

Credit unions also offer specific alternatives with lower interest rates, such as Faça Happen, from Sicoob. Bradesco is a regionalized alternative for those who wish contract financing in up to 12 years directly at the agency.

The recommendation is to research what options are available at the chosen educational institution, as conditions and availability may vary according to the college, the unit and the number of places allocated to each program.

2. Compare the total cost, not just the installment amount

A smaller portion may seem more comfortable in the short term, but it should not be the only decision criterion. It is essential to observe the interest rate, the total term of the contract, the form of adjustment, any fees and the final amount that will be paid.

“Before hiring, the student must simulate different scenarios and understand how much that financing will represent in the family budget over the years. Term, interest and payment conditions need to be analyzed together”, advises Kátia Pinto.

The conditions vary according to the chosen modality: there are options with shorter terms, renewed every semester, and alternatives that allow you to finance longer periods of graduation, with payment distributed over several years. Therefore, it is important to compare not only the value of the installments, but also the interest rates, the payment period and the total cost of financing.

3. Understand what guarantees are required

Hiring requirements vary between modalities. Some lines ask for one or more guarantors and establish minimum income criteria. In others, financing can be contracted with property collateral, which tends to allow longer payment terms and different credit conditions.

Pravaler, for example, considers the composition of up to two guarantors and the student can also use your own income to compose the proposal, adding it to the income of the guarantor(s), without requesting property as collateral. Faça Happen, from Sicoob, does not require the student’s income for credit analysis or property as collateral, but requires a guarantor. CashMe works with credit with property guarantee and payment term that can reach 240 months. Alume, in turn, has options with and without property as collateral.

Before starting a proposal, it is worth bringing the family together to understand who will be able to participate in the contract, whether in the form of income, as a guarantor or by offering a guarantee.

4. Assess whether it is necessary to finance the entire course

Not every student needs to take out financing for the six years of graduation. Depending on the family’s financial situation, it may make sense to finance part of the monthly fees, a specific semester or take out the credit at a certain point in time during training.

There are options that allow you to finance up to 100% of the semester and distribute the payment over 12 months, with the possibility of renewal each period. Other options can be hired during the current semester. “The financial organization needs to monitor the reality of each family. The student must assess whether they need to finance the entire course or just part of it. This analysis can avoid taking out more credit than necessary”, explains Kátia Pinto.

5. Search for programs available in your region

The location of the college can also influence the financing options available. Banco do Nordeste, for example, offers FNE P-Fies to students enrolled in partner institutions within the bank’s area of ​​operation.

In this modality, it is possible to finance 100% of the monthly fee. Payment begins during the financing period and can extend for up to three times the time the student remained funded, according to the program rules.

Therefore, in addition to researching national alternatives, it is important to check regional credit lines and programs available in the state or municipality where the student intends to pursue their degree.

6. Run simulations before making the decision

Before signing a contract, the guidance It’s about putting the possibilities on paper. Simulating different down payment amounts, financing percentages and payment terms helps to visualize the impact of the decision over the years.

It is also important to consider other costs involved in training, such as housing, food, transportation, academic materials and equipment. In some cases, the student will need to change cities, which should be part of the financial planning from the beginning.

“Financing can be an important tool to enable access to graduation, but it needs to be contracted with information and planning. The more clarity the student and family have about the credit conditions and the available budget, the safer the decision will be”, concludes Kátia Pinto.

By Julia Costa e Costa