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Student loan
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Student loan

State subsidized STUDENT loans.

During the study period, borrowers will repay interests only, while equal repayments of the principal and interests will commence after graduation.

  • Currency

    AMD

  • Maximum amount

    AMD 4 000 000 AMD 4 000 000 disbursed in maximum 5 installments. Moreover, the amount of each installment shall not exceed AMD 800.000 depending on the amount of the tuition fee

  • Period

    10 years

  • Interest rate

    9%, actual interest rate. 9,38% 9% of which will be subsidized by the state 2 percentage points for all beneficiaries 3 percentage points for excellent students

Conditions
Borrower* RA citizen and resident, who is either a master or a bachelor student of state and state-accredited institutions of higher education as specified in 
Loan currency AMD
Loan purpose Payment of tuition fees
Annual interest rate

 

9% of which will be subsidized by the state

2 percentage points for all beneficiaries
3 percentage points for excellent students

Loan maturity

A maximum of 10 years, from which only interest (maximum 5 years) is repaid during the course of study, and after the completion of the study, the principal amount of interest and repayments of interest

Maximum loan amount AMD 4 000 000 disbursed in maximum 5 installments. Moreover, the amount of each installment shall not exceed AMD 800.000 depending on the amount of the tuition feeր
Loan security

Guarantees by at least 2 people. Moreover, one of the guarantors shall be one of the parents of the Borrower or the guardian thereof, and second guarantor shall be the relative of the Borrower.

Requirement to the credit history of borrowers and guarantors The potential borrower and guarantors must not have classified liabilities on the day the loan application is submitted and the total of past due days must not exceed 30 days within previous 12 months
Guarantor credit rating

Pursuant to the Procedure of Consumer Loans Disbursement

Loan and interest repayments Monthly annuity payments
Loan and interest repayments Loan disbursement mode Non-cash to the bank account of an institution of higher education
Penalty on past due interest 0.13% per day
Penalty on past-due loan 0.13% per day
Requirement to students

Loan applications will be approved taking into account the progress of a student and based on the documents below: 

  • A first-year student – a copy of a school leaving certificate and results of entrance exams,
  • A second-year student and students of higher courses, as well as master students – a copy of a student’s record book,
  • Each student will be required to submit a reference from an institute of higher education, stating that the given student studies in the given institution. The reference shall be submitted at the beginning of each academic year.
Early repayment requirement In case of leaving the university, the student is obligated to repay the entire loan and the interest accrued at that moment as well as the penalties
Other There are no penalties for early loan repayments

* Information on borrowers may be transmitted or disclosed to the "Housing for Youth" RCO CJSC as well as to the Ministry of Finance / Government of the Republic of Armenia.

List of partner universities

Loan applications will be approved taking into account the progress of a student

Attention: Loan interest rates shall accrue based on the nominal interest rate, while the effective annual interest rate shall show how much the loan will cost to you in case interests and other mandatory payments with regards to loan disbursement and service are repaid in due amounts and specified timelines.

Dear Customer, the ratings and the number of inquiries generated as a result of your loan applications may affect your overall credit rating in the Scoring systems.

Useful information
  1. Loan interest rate shall accrue annually over the outstanding loan amount based on a 365-day a year.
  2. Once dismissed from a higher education institution, a student shall be obliged to repay the whole amount and interests accrued thereon as of the day of repayment, including accrued penalties, if any.
  3. Loan interests shall accrue based on the nominal interest rate.
  4. Loan decision shall be made within 5 business days once all required documents are submitted. 
  5. Once the authorized body takes a loan decision, the borrower shall be notified about the decision within one day. Once the decision is approved, the borrower shall have maximum 15 days to collect and submit required documents. Where the loan is not disbursed within a specified period, the decision of the authorized body shall be deemed void. Where the decision is reviewed, it will be submitted to the authorized body for reconsideration.           

 

Attention

When applying for a loan, the Lender shall provide you and guarantor(s) (if any) with an individual sheet on essential terms, wherein you will come across individual terms of the loan to be disbursed to you

Where you fail to perform your obligations either fully or partially, the Lender shall send those data to the credit bureau within a three-day period, where your credit history is generated. You shall have the right to obtain your credit history from the bureau free of charge. Attention: A bad credit history may hinder lending in the future.   

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Financial assistant
ABC finance

Page updated 02.12.2022 | 12:15

In case of discrepancy between Armenian and English versions of the information, the priority is given to the Armenian version.