100 million EUR for student loan mechanism in Hungary

On 12 May, the European Investment Bank (EIB) granted the Hungarian student loan centre- Dikhitel Kzpont- a loan of 100 million EUR to be used in the form of loans to finance costs carried by students taking university courses in higher education establishments in Hungary, regardless of their social condition or training level.

This loan mechanism is of particular importance in Hungary, where the number of students has more than doubled in the last ten years and where the structure of higher education has experienced radical changes, to allow an elitist education system to be transformed into one which fosters social integration. The EIB feels that the role of this mechanism is set to take off in the near future, given that Hungarian budgetary resources are to be cut and that students need additional sources of funds.