Prime Minister Mikhail Mishustin has allocated an additional 2.5 billion rubles to student loans with the state’s 3% concessional support. As a result of this decision, another 214,000 students will be able to benefit from concessional loan opportunities.
According to "Российская газета," as reported by "Tehsil365", this program, in effect since 2020, reduces the annual interest rate on student loans to 3%. Loans can be used from the age of 14 for secondary school, vocational, and higher education.
Students pay only the interest during their studies and for the nine months after graduation, while the principal can be repaid over 15 years. Those who wish can repay the loan early without any commission.