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Govt to launch new student loan program

The government on Monday decided to launch a new student loan programme with separate credit lines for discretionary spending and for educational fees, government spokesman Andras Giro-Szasz said on Tuesday.

Interest on the credit line for educational fees will be a state-subsidised 2%, Mr Giro-Szasz said.

The government aims to create a high-quality and sustainable system of higher education that is generally accessible to all talented young people with a desire to learn, he said. The system must serve the needs of the labour market as well as achieve goals of the national economy, he added.

He said one of the most important elements of the restructuring of financing of the system was setting the number of students on full and partial scholarship, at 55,000, and establishing a category for students who must cover the full cost of their education.