The purpose of the low interest student loan is to expand the access to education and also to encourage births. That is the main idea behind the bill that shall be discussed in the Parliament. In the present moment it is harmonizing between the different departments.

The main problem complicating the credit is the amount of state deposit guarantee/warranty. According to the Ministry Of Education's proposal the amount of state guarantee should be 100%. In the last version of the bill is stipulated that if the debtor does not pay the owing amount until 90 days after the date of payment the bank shall activate the state guarantee and the state shall start seeking the amount from the improper payer.  The debated interest for students is 4.58 % which is equal to the main interest /основния лихвен процент /.

Banks shall grant credits not only for education but also for child support if during the studies students have a baby/ a baby is born. The child support shall be the minimum monthly salary but shall be paid at once during the semester. Other hypothesis is foreseen for remition/release from the credit - when a student has second baby in 5 years after the gratis period expires the rest of the credit shall be remitted. The purpose of the act is to encourage young and smart/ambitious Bulgarians to give birth.

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