The savings Bank has stopped issuing education loans
Russian University students temporarily lost access to educational loans with state support, the newspaper “Kommersant” on Monday with reference to the press service of Sberbank SBER.
The publication notes that this is due to the need to make changes to the documents that reglamentary the implementation of credit programs by the Bank, as well as the optimization of the program of state support of educational credits by the Ministry of science and education. Sberbank notes that “the timing of the resumption of acceptance of applications is directly dependent on the efficiency of the Ministry making changes to legislative acts”.
Minobrnauki in turn told the newspaper that the optimization of the student loan program does not involve funding cuts: “such plans, the Ministry no.”
Loans, the contract for which was concluded with the Bank until 31 December last year, issued without restrictions, said the Bank.
Kommersant emphasizes that the program support product training enables banks to give educational loan of up to 100% of tuition. Loan period – the training period plus ten years. The interest rate is 7.5%. While 3/4 of the refinancing rate is subsidized from the budget.
According to Russia’s largest Bank, which in the market of educational loans with state support were left alone (in the fall of 2016, the regulator has revoked the license of the second credit institution give loans with state – of Rosinterbank), recently there has been a significant growth of interest in educational loans. Previously the Bank had announced that from July through September 2016, the program provided loans for 480 million roubles That twice exceeds the volume of lending over the same period of 2015.