Students of colleges and technical schools will be able to get a student loan

The Ministry of Education announced that students of colleges and technical schools will be able to apply for cash loans for education next year, and finances will be issued both to pay for the entire period of education, and to pay for one or more semesters. Such loans will be provided to young people from the age of 14, and no collateral will be required for their registration.

The amount of the educational loan will be determined by the bank itself based on the cost specified in the student’s agreement with the educational organization. The interest rate is supposed to be fixed for the entire period of issuing a loan at the level of 3%, the rest of the percentage is compensated by the state.

If the loan is taken for the entire period of education, then during the training, as well as within nine months after its completion, a grace period will apply, that is, the student will receive a deferment to repay the principal debt. Also, the grace period for returning the “loan body” will be extended if the student goes on academic leave.

As for the payment of interest on the loan, in the first year the student will have to pay 40% of the accrued interest, in the second year – 60%, and from the third year to return 100%. Nine months after graduation, monthly payments will increase and repayment of the main part of the loan will begin. The maximum period for which a loan can be issued is 15 years.

To apply for a loan, a student will need a passport, an agreement for paid tuition and a receipt or invoices for paying tuition with the payment amount. Students under the age of 18 will also need a birth certificate, consent from one of the legal representatives and his passport.

Mona Platonov.