Students and teachers admitted to TOP-300 universities will be granted an education loan of up to 20 thousand dollars.
The principal amount of the loan is repaid over seven years starting from the seventh month after the official study period of the applicant ends.
By the Government's Resolution No. 88 dated March 2, the Regulation "On the Procedure for Allocating Educational Credits to Youth and Teaching Staff Wishing to Study at Foreign Higher Education Institutions" was approved.
The Regulation establishes the procedure for allocating preferential educational credits from the funds of the Educational Credit Financing Fund and their repayment.
According to the Regulation, credits are allocated to youth and teaching staff under the age of 30, including those who are 30, who have been admitted to foreign higher education institutions included in the TOP-300 rankings according to QS (Quacquarelli Symonds) or THE (Times Higher Education). Credit recipients are required to be citizens of Uzbekistan.
The credit is provided in national currency equivalent to an amount of up to 20,000 US dollars per academic year for students' undergraduate and graduate programs. The principal amount of the credit is repaid over 7 years, starting 7 months after the student's official study period ends.
When applying to the bank, the credit recipient must submit an application, copies of identity documents, a letter of offer (for 1st-year students), academic performance results starting from the 2nd year, a contract for study on a tuition-fee basis, and an invoice indicating the bank details of the higher education institution.
At the same time, information on the income of co-borrowers for the last 12 months and a copy of the work record book for teaching staff over 30 years of age are also required.
The educational credit interest rate is set at the amount of the Central Bank's base rate.
