Soft loans for education are planned for up to 15 years

Concessional loans to education students plan to issue any amount for a period of 15 years, said Minister of education and science Valeriy Falkov in the program “Dialogue” on TV channel “Russia 24”.

“This expansion of the lending program with state participation”, — said the Minister of science and higher education.

It will be a new subsidized student loan at half the rate of the Central Bank of a duration of 15 years. “The loan amount here is not restricted,” the Minister explained. According to him, the loan term to 15 years will enable successful students to repay the debt from their salaries after graduation.

the Rate on educational loans should be reduced to 3%, and the size of tax deductions on such loans to increase, said a day earlier, on may 21, President Vladimir Putin. He instructed the government and the Bank of Russia to study the question of reduced rates on educational loans from the current 8% to 3%. The President also proposed to extend the maturity of such loans.

the Government will increase the availability of free higher education, particularly in regions where there is lack of highly qualified specialists, noted the head of state. Young people should have other opportunities to receive education, including tuition with education loans on the most favorable terms, said the President. In addition, you must increase the size of the tax deduction on educational loans. Moreover, deductions must provide for the credit and the interest on the loan, said Putin.