Russian Students Increased Investments in Higher Education

Sberbank specialists announced that from August to December 2020, they issued almost 5 times more loans for education than in the first half of the year. This is due to an improved lending programme launched with the support of the Russian Ministry of Science and Higher Education, 1rnd reports.  

According to the Deputy Chairman of the South-West Bank of Sberbank, Larisa Bezdeleva, in September 2020, the bank issued loans worth more than 40 million rubles to support higher education.

It is specified that the interest rate was lowered from 8.5 per cent to 3 per cent, and the loan term was increased from 10 to 15 years. It is noted that such a loan can be obtained by students from 14 to 65+ years old in any bachelor’s, master’s and postgraduate programmes, as well as for obtaining a second and subsequent higher education at any licensed university in Russia.

A loan agreement can be drawn up both for the entire period of study, and for a year or even a semester. During their studies, students pay only interest on the loan, and the rest can be paid within 15 years after graduation, with no commissions, insurance or income certificates required.

Ru-Main, 01.02.2021 

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