Education and Science, Financial Services, Latvia, Legislation, Loan

International Internet Magazine. Baltic States news & analytics Monday, 23.10.2017, 21:58

Government in Latvia to guarantee EUR 35.9 mln worth of loans for students in 2018

BC, Riga, 27.09.2017.Print version
In 2018, the government in Latvia will issue guarantees worth EUR 35,956,620 million in total for study and student loans, the Cabinet of Ministers decided on September 26th, writes LETA.

According to a report drawn up by the Finance Ministry, the maximum amount of government-guaranteed loans that can be issued in the time period from 2018 to 2020 is roughly EUR 36 million a year.

 

The Education and Science Ministry had informed the Finance Ministry that next year around EUR 10,756,620 worth of guarantees will be needed for student loans and EUR 25,200,000 for study loans. The total size of loan guarantees requested by the Education and Science Ministry does not exceed the limit set by the Finance Ministry for 2018.

 

SEB Banka has won the rights to extend government-guaranteed study and student loans for eight consecutive years already.

 

In 2016, SEB Banka granted 1,817 loans worth EUR 9.11 million to students, of which 83 percent were study loans meant for paying the tuitions, and 17 percent were student loans for daily expenses. The average size of one loan was EUR 5,000.






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