Banks, Education and Science, Financial Services, Lithuania, Loan

In this semester loans can be used to pay the costs of living (up to 3,250 litas), or for partial studies under international (cross-institutional) agreements, writes LETA/ELTA.

The period of accepting loan applications for the study year 2012-2013 will be set by the State Studies Foundation.

"We invite all students to take the option of receiving a State-supported loan. Ukio Bankas does not apply a loan handling fee for them. The matter of funds is of great relevance to students and these loans, therefore, is a perfect opportunity to borrow them under favorable terms," Mindaugas Pasvenskas, Head of Ukio Bankas Credit Division, said.

State-supported student loans are subject to a variable interest rate consisting of three-months VILIBOR and a margin. Loans are available to students appearing on the list of students eligible for concluding agreements on State-supported loans composed by the State Studies Foundation. Loans on preferential terms can be issued: to pay the costs of living – up to 6,500 litas (up to 3,250 litas in the spring semester of the academic year 2011-2012), for partial studies under international (cross-institutional) agreements – up to 7,800 litas, and to pay the cost of studies (these loans are not available in the spring semester). Loans may not exceed the amounts fixed by the State Studies Foundation. Loan repayment term: within 15 years from the beginning of loan repayment in equal monthly installments. Beginning of loan repayment: 12 months following completion of the studies, termination of the studies or striking the borrower off the list of students.