Educational Loan Gives New Opportunities For Applicants for a Diploma

In 2008, a project was launched in Russia , thanks to which hundreds and thousands of low-income but talented young people will be able to obtain their diploma. It is a question of state sponsorship for students who receive educational loans, in case of non-return of which the bank's losses are partially reimbursed from the federal budget (about 10% of the amount).

What are the conditions of the program for obtaining an educational loan with a state guarantee? The applicant for a diploma of higher education is able to use an educational loan on preferential terms - the main debt on the loan during study and three months after receiving the diploma to the participants of the experiment is not necessary to pay. Over the next two years, it is required to pay the interest rate and repay the bulk of the loan over a period of 10 years. Penalties for early repayment of the loan are not provided. The guarantor of the borrower is the state, which subsidizes the interest rate for educational loans. Due to this, it does not exceed 5.0625% per annum.

Who can get an educational loan on such terms? The state acts as a guarantor for young people between the ages of 14 and 18, now students between the ages of 18 and 21 have the greatest chance of receiving such subsidies.

In addition, to qualify for participation in the state program of educational crediting, you need to have a good academic performance. First of all, the state provides support to future specialists of the profile in which the national economy needs. For example, now the scientists, specialists and representatives of the working professions for the military-industrial complex are most in demand from the point of view of the authorities.

To get into the state program, the student must sign an educational loan agreement with the bank that participates in the experiment, and enter the universities with which the contract was signed within the framework of the project. Each year the list of such educational institutions is changing. It is noteworthy that it includes accredited both public and private universities.

To date, up to 20% of the total amount of issued funds is reimbursed as a state subsidy to compensate for non-repayment of the loan debt, another 75% of the refinancing rate of the Central Bank of Russia is used to recover the falling income.

By the way, most of all the chances for an educational credit are given to people who receive a diploma of a second higher education, having their own income and length of service in one workplace for at least six months and having any property (car, real estate). In addition, it will positively affect the decision of the bank information that your parents are not retired people, that you have sureties, and your savings account is updated from time to time. It will also increase the chances of participating in the experiment, enrolling in a sought-after specialty in a prestigious university.