Demand for Student Loans in Bulgaria Lowers over High Interest Rates

In 11 years, less than half of the amount of the guaranteed student loans have been reimbursed to the state. Students refrain from borrowing money because of the high interest rates, although a total of EUR 20 million was earmarked for student loans in 2021. In 11 years, only 1,274 students have applied for a student loan.
Despite the state guarantee, few students apply for student loans, because of the high interest rates. They have to pay 7% interest rate, which equals the interest rate on a consumer loan, Alexander Uzunov from the National Representation of Student Councils told the BNR.
According to Ivan Stoykov, financial expert from the website My Money, it is unlikely that interest rates be reduced, because students may not be able to find a well-paid job after they graduate from the university./BNR
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
- » French Institute offers University Courses for Ukrainians in Bulgaria
- » Schools and Kindergartens in Bulgaria might Close due to Expensive Electricity
- » Number of Bulgarian Students in UK Universities is slightly Declining over the years
- » How many Bulgarians pursued Higher Education in Ukraine and in Russia
- » Everyone in Class - End of COVID-19 Testing and Online Learning in Bulgaria
- » Bulgaria’s Educational System is Ready to Accept up to 63,000 Ukrainian Students