About Student Education Loan

By Decree No. 1367 of the President of the Republic of Azerbaijan dated June 17, 2021, the “Education Student Loan Fund” was established under the Ministry of Education of the Republic of Azerbaijan, and by Resolution No. 226 of the Cabinet of Ministers of the Republic of Azerbaijan dated July 24, 2021, the “Rules for granting education student loans at the expense of the Education Student Loan Fund” were approved.

What is a Student Education Loan?

The Student Education Loan (SEL) was organized with the aim of ensuring the accessibility of education for all, especially for people from low-income groups of the population, creating equal opportunities in education, and expanding the scope of education. This loan is provided with state support at very low interest rates and for a long period (15-22 years, depending on the level of education).

Citizens of the Republic of Azerbaijan who are studying full-time during the normative period of study at the bachelor's (basic (basic higher) medical education) and master's (residency) levels of higher education, at the secondary specialized education level and at the higher technical vocational education level of vocational education, and who do not have academic debt based on the results of the previous semester, may apply for a student education loan at state and private educational institutions officially operating in the Republic of Azerbaijan.

https://www.youtube.com/watch?v=ZDXCsnfrXqI&ab_channel=Elmv%C9%99T%C9%99hsilNazirliyi

Electronic Education Student Loan Calculator

https://e-ttkf.edu.az/Account/CreditCalculator

Types of Education Loan

Social (2% per annum)

Standard (6% per annum)

*0% (interest-free) when obtaining the right to a discount based on educational performance

Social Education Loan

Students entitled to use the Social TTK:

1. Members of families receiving targeted state social assistance;

2. Those with disabilities due to 31-60 percent impairment of body functions (group 3);

3. Those receiving labor pensions for the loss of the head of the family;

4. Persons who participated in combat operations for the territorial integrity of the Republic of Azerbaijan and received the title of "War Veteran";

5. Both parents (if there is a single parent, then the same person):

Those who have a disability (group 1 or 2) due to 61-100 percent impairment of body functions;

If they are officially registered as unemployed;

If they receive an age-related labor pension;

If they receive social benefits due to age.

Note: There should be no academic debt in any subject (module) for the semester (half-year) preceding the semester in which the TTK will be issued.

Standard Education Loan

Students entitled to use the Standard TTK:

Students who meet both of the following conditions, if they do not have the appropriate status to receive a social TTK:

1. For the first semester of the first academic year, the score collected in the entrance exam must be above the approved minimum threshold (see question 5), and in the following semesters, the last UGTT must be 71 or higher;

2. Must pay at least 20 percent of the annual tuition fee.

Note: There should be no academic debt in any subject (module) in the semester (half-year) preceding the semester in which the TTK will be issued.

The minimum score collected in the entrance exam determining the right of students to receive a standard TTK for the first semester of the first academic year:

250 for the bachelor's level;

(100 points for students entering specialties requiring special abilities)

50 for the master's level;

110 for the sub-bachelor's level.

The student will be able to receive TTK in the amount of the officially approved annual tuition fee for that specialty at the educational institution for one semester.

For what period is the TTK issued?

This period depends on the student's current level of education, grace and grace periods granted by the relevant decision of the Cabinet of Ministers.

After receiving an education loan, the student is not asked to return the loan and interest is not calculated during the period of full-time education, grace period and grace periods.

After the end of the education period, the student is given a grace period of 2 years. After that, the student will be able to repay the loan within 10 years.

An additional grace period is granted to a student who has received an education student loan while in active military service, on maternity leave, for persons with first-degree disabilities, and for those caring for a child with limited health up to the age of 18.

Discounts for students in education loans

Discounts will be given to students who study well during their studies. This discount applies to both interest rates and repayment of funds.

Discounts applied in calculating interest on the loan and depending on the results of education in repaying the loan depend on the student's educational performance. Thus:

Students with a Social GPA of 71 points and a Standard GPA of 91 points and above are not charged interest on the loan they took for that semester;

Students with a GPA of 91 points and above in all academic semesters during the normative period of education are exempted from repaying 50 percent of the Social GPA and 25 percent of the Standard GPA.

*These discounts are based on the initial agreements, semester and