On 14 March 2013 the program of “Education Loans Provided to Students (Subsidy for Loan Interest Rates)” was approved.
The main purpose of the Program is to provide a loan to the students having problems with the payment of tuition fee on better terms. The Program offers special conditions, interest rate and repayment schedules.
All the students who want to study at the universities but have no opportunity to pay for it they can receive student loans on more favorable terms under this Program.
In order to achieve the target the government will provide a partial subsidy for interest rate of loans provided under this Program.
The program is intended for students who are the citizens of the Republic of Armenia and study with paid bachelor’s and master’s education program of state higher education institution or non-state higher education institution of the Republic of Armenia having accredited educational programs as per specialties.
The loan currency is AMD.
The maximum loan amount is 1.800.000 AMD during the entire education period with a maximum of 4 consecutive shares. The amount of each share may be no more than 450 thousand AMD depending on the amount of tuition free for each specialty.
The maximum loan period is 10 years. During education a maximum of 4 years are considered as a grace period during which:
The annual interest rate of loan is 12% of which the government:
The loan provision method is in noncash. The loan amount is directly transferred to the education institution.
The necessary references: a reference from the university where the student’s faculty, year and the amount of fee for academic year (the remaining amount of that academic year), bank account number of the university and the student graduation year and month should be mentioned. In case of excellent learning a mention should also be made on the excellence of the student during specific academic year.
Other terms:
HERE IS THE LIST OF BANKS THAT PROVIDE LOANS UNDER THE PROGRAM
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