Bulgarian MPs Give Nod to Student Loans
2005-03-16 00:00:00
Bulgarian university students are to receive the right of state crediting under a new bill passed in Parliament at first reading on Wednesday.

Students seeking B.A., M.A. and Ph.D. degrees and aged under 35 will be able to apply for loans.

The privilege will only be given to Bulgarian nationals, students with current average degrees of at least "Good 4" and those who do not receive any scholarships.

The student loan is not to exceed BGN 5,000 (approximately EUR 2,500) per year, 25% of which will be sponsored with state guarantees.

The bill envisions that loans are granted by commercial banks, which have signed general conditions contracts with the Education and Science Ministry.

The loans will be awarded for a period as long as the regular academic curriculum. The student will be given a grace period from the moment of contracting the bank up to six months after the final exam's first date.