Fri, 24 October
21.1 C
Yerevan
USD: 383.05 RUB: 4.73 EUR: 444.80 GEL: 141.19 GBP: 510.03

Armenia’s government set AMD 21.5 mln for subsidized student loans in Q1

YEREVAN, March 14. /ARKA/. Armenia’s government approved Thursday subsidiary programs within the frames of State education advancement program 2011-2015.

Thus, some 21.5 million drams will be allocated from the reserve fund for subsidized student preferential loans in the first quarter of this year.

Finance Minister Vache Gabrielyan said students will be able to get a loan four times, and the maximum amount of all loans should not exceed 1.8 million drams.

“The maximum amount is 450,000 drams per year, and the students will be able to pay their tuition,” he said and noted an average tuition is 350,000-500,000 drams a year in Armenia.

The student loans’ annual interest rates will stand at 12 %, and 2% of it will be subsidized by the government (3% for students with an excellent academic performance).

“The loans will be given for 10 years with a 4-year grace period. During the first four years the students will be obliged to repay the interest rates, and afterwards the whole sum,” he noted. ($1 – 412.75 drams).—0-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Armenia is experiencing an investment boom: opportunities, barriers and main misconceptions

Armenia's investment market is experiencing a period of active development: the number of issues is growing, digital technologies simplify access to financial instruments.

Moody’s upgrades Converse Bank’s ratings

Moody's Ratings has upgraded Converse Bank CJSC's long-term local and foreign currency bank deposit ratings to Ba3 from B1, aligning the Bank’s rating with Armenia’s sovereign rating.

“We want the word ‘investor’ in Armenia to mean normality, not elitism” – Freedom Broker Armenia

ARKA news agency spoke with Freedom Broker Armenia Director Ovak Ovakimian about the transformation of investment thinking, company strategy and trust as an economic value.

LATEST NEWS

spot_imgspot_imgspot_img