A loan for retraining is not a government-sponsored loan request. Without a “father state” as a guarantor, it is difficult to find a suitable loan offer. The following article provides a situation analysis and solution options.
Retraining Loan – The Challenge
There are countless good reasons to look for a loan for retraining. The world of work is constantly changing, the job learned is no longer sought. The personal development of people plays a no less important role in the desire to be trained again. The old profession provides an income, but there are no opportunities for further development. It is not uncommon for the profession to become overwhelming with increasing age.
The challenge now is to get realizable retraining funding. The first point of contact is not a credit institution. The employment office can finance retraining. Unemployment that has already occurred, lack of prospects for possible job vacancies and age can motivate the clerk to finance a retraining. A credit is not necessary for this. Standing in professional life, this chance of retraining is unfortunately closed. Alternative sources of funding must be requested.
In the case of occupations that cause illness, the professional associations or the pension insurance institutions could be contacted. If health development is foreseeable, disability or disability is imminent, there is a chance of retraining. In these cases too, credit can be dispensed with entirely.
Explore personal opportunities
The employment agency does not play if the professional field still has enough jobs or the employment relationship has not been terminated. Nevertheless, many professions are not designed to be able to carry them out until retirement. Only a few can withstand the work pressure of heavy physical work until retirement. Large companies in particular have good chances of receiving support for retraining from the company. With a little luck, they will finance a retraining measure or grant a loan for retraining the employee.
This path is not a one-way street. Every company is interested in keeping the expertise of reliable long-term employees in the company. Companies that invest in such a measure and grant a loan practically kill two birds with one stone. The employee continues to develop and can be deployed in another area of the company, such as administration.
As a previous practitioner, he knows problems in production. Thanks to his expertise, operational processes can now be optimized. Out of gratitude for the opportunity to retrain, he will probably remain with the company and not move to the competition.
Fund the retraining from your own resources
Retraining is expensive. The state either bears all costs, living expenses and retraining costs, or there is nothing. Special loans are also not on the market due to the lack of a state guarantee. A full-time retraining is to be paid privately, without big savings, therefore excluded. For most people, only one part-time measure can be considered.
In this way, labor income can both create creditworthiness and bear the cost of living. The loan for the retraining is in this case a small loan from the Internet. The additional costs for the training measure can thus be borne. The low interest rate level of an ordinary small loan also keeps the financing costs within reasonable limits.