Back to School 2025: Condusef's recommendation if you plan to apply for a loan

With the return to school just around the corner, thousands of Mexican families are beginning to plan for the expenses that will be involved in the start of the 2025-2026 school year. Uniforms, supplies, and other materials represent a significant outlay, which is why many are choosing to apply for a loan or credit to cover these expenses.

However, before committing to a debt, the National Commission for the Protection and Defense of Users of Financial Services ( Condusef ) recommends taking precautions and following certain guidelines to avoid financial problems.

Taking out a loan can be a solution for covering school expenses, but if you don't choose well, debt can become a bigger problem. The Condusef (National Commission for Educational Development) points out that each loan has different characteristics: interest rates, terms , and costs can vary considerably.

It's essential to compare several options before making a decision, as some offers may have attractive terms but, in the long run, prove more expensive or difficult to pay.

One of the main tips is to avoid express loans that offer high amounts with easy payments and low rates, but don't check your credit history. These options often hide additional costs and can be a source of fraud.

Condusef emphasizes the importance of using only authorized financial institutions. This not only ensures greater security, but also allows you to file a formal complaint and receive support in the event of a problem or complaint.

According to Condusef, the most recommended options for parents include:

• Personal credit: Easy to apply for, even online or via mobile apps. It's quick and accessible, but always check that the institution is regulated and avoid applying without carefully reading the terms and conditions.
• Payroll loan: It's deducted directly from your salary, which can make repayment easier, but make sure the installments don't affect your monthly finances.
• Credit card: Very useful for purchasing with interest-free installments. Condusef advises against these installments exceeding six months to avoid the debt extending into the next school year.

Before signing any contract, check that the financial institution is registered and authorized by the National Banking and Securities Commission ( CNBV ). It's also important to assess your repayment capacity to avoid compromising your financial stability.

Condusef reminds you that the process must be done in person, without intermediaries, and is free of charge. Bring a valid official ID, CURP (Currency Program), and a recent proof of address to complete the process if you decide to apply for a loan.