Credit for the Students’ American Dream
- Posted by Laura on May 3rd, 2007 filed in Financial services, Services
Opportunity: Solutions for Financing Work & Travel Programs
BRD put this opportunity into practice when they released the Work&Travel USA Card. They are providing financing solutions to the participants in the Work&Travel USA programs through one of their 9 BRD partner agencies. I call it a smart move as the number of youngsters (especially university students, but also masters’ program and PhD students) is growing every year. More and more students are willing to spend 3 months in the States, taste the American ‘dream’, earn some money and have fun traveling. However, not all of them have the 2000 $ or so to cover by themselves the upfront cost of the program, and if they cannot borrow the money from friends and family, the Work&Travel USA card is a great solution.
Advantages for the consumer? Plenty. Once he/she’s been accepted in the program and has a job offer from an American employer, he/she’s ready to get a credit: up to 3000 USD in the account (depending also on the future salary), to cover for the program fee, the visa fee, the plane ticket cost and the expenses before receiving the first paycheck. Reasonable interest rate, no complicated procedures, reimbursement period of maximum 10 months. The credit can be reimbursed directly from the BRD current account. Simple, right?
This is a great example of a bank thinking creatively to satisfy their - new and existing - customers’ needs.
Written by Laura
May 4th, 2007 at 12:36 pm
What’s great about this for the bank is the very low risk, as the employment of the student is guaranteed at wages that are considerably higher than in Romania.