State supported loans for students of higher education
- Name of the instrument - Local language
- Valstybės remiama paskola studentams
- Name of the instrument - English translation
- State supported loans for students of higher education
- Scheme ID
- 135
- Country
- Lithuania
- Reporting year
- 2015
- Type of instrument
- Loan
- Type of entry
- Single instrument
- Short description
State loans and State-supported loans were introduced to help higher education students to cover tuition fees and living costs during full time education. The scheme is also open to adults. The State provides loan guarantee (in case of default) and pays the interest rate for specific target groups. In case of loans provided by the State, the State covers also administration costs. State-supported loans are preferential loans for students issued through the selected retail banks.
- Level of operation
- National
- Name of a part of the country
- nap
- Name of the region (for regional instruments)
- nap
- Name of the sector (for sectoral instruments)
- nap
- Relevance
- Marginal scheme
- Legal basis
Decree of the Government of Lithuania on the approval of descriptor of the order of provision, administering and repayment of the state loans and state supported loans for students No. 480, 27-05-2009
- Year of implementation
- 2009
- Year of latest amendment
- 2012
- Operation/management
The provision of State supported loans for higher education students is coordinated by the State Studies Foundation.
- Eligible group(s)
EU nationals or non-EU-
nationals with residence permit; all students enrolled in the first, second and third cycle, integrated and non-degree studies at higher education institutions.- Group(s) with preferential treatment
People with 45% or lower work capacity; other secific target groups.
- Education and training eligible
Higher education
- Source of financing and collection mechanism
State (interest rate subsidy for specific groups, loan guarantee)
individual (repayment from future income)- Financing formula and allocation mechanisms
Maximum amount of loan per month:
- fees: no more than the standard study price set yearly by the Minister of Education and Science (approximately EUR 150 per semester)
- living expenses: cannot exceed the 50 basic social payments per study year, 25 basic social payments per semester
- partial studies abroad (Erasmus): up to approximately EUR 2 260 per year but no more than EUR 14 495 total (the data above refers to the year 2009/10).Interest rate: 5-8 %
Repayment: starts 2 years after graduation; fixed instalments; maximum period for repayment: 15 yearsState covers administration costs (loan provided by the State), provides loan guarantee (in case of default) and pays interest rate for specific target groups
Loan recipients who have 45% or lower work capacity can be exempted from the payment of loan or it’s part by the decision of the commission established by the director of the National Fund of Studies.
- Frequency of the use
Only once
- Volumes of funding
The amount of open loans in 2012 was EUR 9 594 000, in 2013 EUR 9 667 800, in 2014 EUR 10 260 000.
- Beneficiaries/take up
na
- Organisation responsible for monitoring/evaluation
State Studies Foundation.
- Monitoring/evaluation reports available
na
- Most relevant webpage - in English
na
- Most relevant webpage - local language
- Sources
State Study Foundation https://www.vsf.lt/en
- Short description
- Level of operation
- Name of a part of the country
- Name of the region (for regional instruments)
- Name of the sector (for sectoral instruments)
- Relevance
- Legal basis
- Year of implementation
- Year of latest amendment
- Operation/management
- Eligible group(s)
- Group(s) with preferential treatment
- Education and training eligible
- Source of financing and collection mechanism
- Financing formula and allocation mechanisms
- Frequency of the use
- Volumes of funding
- Beneficiaries/take up
- Organisation responsible for monitoring/evaluation
- Monitoring/evaluation reports available
- Most relevant webpage - in English
- Most relevant webpage - local language
- Sources