The start of school places a significant burden on parents: the turnover of pawnshops also increases during this period

Although the price of textbooks is subsidized, the replacement of school supplies, school bags, outgrown clothes and shoes involves significant costs. According to a recent study, schooling is a major financial burden for 69 percent of parents, and another 6 percent probably won’t even be able to raise the required minimum.

Some people buy the necessary equipment in several installments and save up for September, but many families cannot do this, so it is a serious difficulty to enroll the child in school. Parents of university and college students face an even greater challenge, they have to pay tuition fees, dormitory or apartment rent fees, which in this case can mean a burden of hundreds of thousands of forints.

Many people use mortgage loans to send their children to school

Due to the start of the school year, the family support benefits due in September also arrive earlier, however, it happens that the parents are not able to cover the expenses even with these amounts. That is why many people apply for a mortgage before the start of the school year. Based on the experience gained in BÁV’s national network, a large proportion of quick loans are taken out specifically to cover the costs of starting school.

Gold is often seen as a safe haven by families, and this is not only true for investments. Every household may need immediate financial assistance. Those who submit family jewelry as collateral can get a quick loan, and they can do all this without an employer’s certificate, with an optional term of 30, 60, or 90 days.