Education and Science, Estonia, Financial Services

Pursuant to the bill, the maximum rate of study loans secured by the state for the upcoming academic year would be 2,500 euros per applicant. The corresponding maximum amount during the academic year of 2018-2019 was 2,000 euros, spokespeople for the government said.

A student is eligible for a study loan if he or she is enrolled in full-time or part-time study at an Estonian university, institution of professional higher education or a vocational educational institution, or is studying abroad at an educational institution and in a form of study similar to those listed.

Study loans are granted by credit institutions from the funds of their credit resources. The amount of outstanding loans granted by banks totaled 73.1 million euros on Feb. 28. During the 2017-2018 academic year, altogether 2,545 students were granted a study loan, accounting for five percent of all those eligible for it.  

Pursuant to the Study Allowances and Study Loans Act, the maximum rate for study loan secured by the state per applicant per academic year is established by the government annually by 1 July at the latest.