The student loan fund Maarifchi has declared a regular session of educational loans for students, the Education Ministry said.
Loans are designed for students from low-income families who have debts to pay for tuition.
Citizens of Azerbaijan, who will be trained in one of the universities of the Fund founders and who need financial assistance to continue their studies, will be able to apply for loans.
More information on the types and conditions, as well as the selection criteria, can be found on the official website of the Fund (www.maarifci.az).
In addition, the portal has created an electronic window for applications that will ensure transparency and efficiency in obtaining loans. Applications will be accepted until 31 October.
The Maarifchi (Educator) Fund is an initiative of the Ministry of Education and the Ministry of Justice registered it in October 2015. The main purpose is to assist students from low-income families to obtain preferential long-term loans for training.
During the first session 55 electronic applications were reviewed and only 22 of them entered into loan agreement.
The Fund provides loans for training, dormitory, and materials for education, scientific and technological research. However, loans have been issued only for training so far.
A student can take AZN 20,000 for five years. That is, every year AZN 4,000 plus 8% should be returned.
Even if a student fails to repay the loan during the training period, he has to return it within five years after graduation.
To obtain a loan a guarantor is not required. -05D-
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