Education and Science, Financial Services, Latvia, Legislation, Loan
International Internet Magazine. Baltic States news & analytics
Friday, 29.03.2024, 10:49
Government in Latvia to guarantee EUR 35.9 mln worth of loans for students in 2018
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.