Sberbank has suspended the issuance of educational loans

Sberbank, the only bank in the country that issues educational loans with state support, announced the suspension of this program. As explained in the Ministry of Education and Science, this is due to the optimization of the state program for educational loans. At the moment, the timing of the renewal of the program is unknown.

The educational loan support program allows you to get a loan in the amount of up to 100% of the tuition fee. The loan is provided for the entire period of study plus 10 years. The student loan has an interest rate of 7.5%, and the state subsidizes three quarters of the refinancing rate. Until September 2016, two banks, Sberbank and Rosinterbank, took part in the state educational lending support program, but Rosinterbank's license was revoked in September 2016.

Sberbank hopes that the completion of all legal procedures will be over by the new academic year.

Source