06.09.2017 16:29
YEREVAN, September 6. /ARKA/. VTB Bank (Armenia) has designed a student loan with a low interest rate, the Russian-owned bank said today in press release, adding that students are given an exceptional opportunity to pay only interest on the loan during their studies, and pay the principal amount after receiving higher education diplomas. The bank said also the rate for students with excellent academic achievements is one percent lower.
Loans are provided for the payment of bachelor's and master's degrees to students of about 60 state-owned and private state-accredited educational institutions. The eligible students must be aged 16 and above and be citizens and residents of Armenia. The loan is issued only if there is a guarantee from a parent or a trustee.
To obtain a loan, the borrower does not need to have income. But the parent (s) or the trustee must have. If the parent’s or trustee’s income is insufficient a co-borrower may be involved.
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