YEREVAN, February 4, /ARKA/. Armenian education and science minister said the ministry will develop a mechanism for providing student loans. Speaking at a conference in the resort town of Aghveran minister Armen Ashotian said student loans are provided now by commercial banks at tough terms.
“I think that providing student loans is a major mechanism for improving education financing,’ Ashotian said
He said the idea will be tested this year. The pilot program will involve 50 students and then a concept will be developed to be enforced in full in 2012-2013. According to the minister, 25-40% of state-run universities’ funding comes from the government, the remaining portion is generated by students tuition fees.
The three-day seminar was organized by the education and science ministry. It brought together university rectors, local and international experts. The conference is part of a World Bank-funded program designed to improve the quality of education in Armenia.
It is the second such program with the total cost of $31.26 million, of which $25 million is a World Bank loan and the rest is a government co-financing. – -0-
