The government has developed a policy of providing educational loans

© RIA Novosti / Vitaly Incostudita one of the universities. Archival photoThe government has developed a policy of providing educational loans© RIA Novosti / Vitaly ANEC

The Russian government developed rules for the granting of educational credits, the corresponding document posted on the Federal portal of projects of normative legal acts.

«The draft resolution approves regulations to conform with the requirements… of the Government of the Russian Federation from September 6, 2016, № 887 «On General requirements of regulatory legal acts, municipal legal acts regulating the provision of subsidies to legal entities (except for subsidies to state (municipal) institutions), individual entrepreneurs and individuals – producers of goods, works, services», — stated in the explanatory note to the document.

The project now includes a list of documents that banks are required to submit to the Russian Ministry for agreement and inclusion in the program of state support of educational crediting, established requirements for banks as recipients of grants and requirements to the agreement between the banks and the Department.

The number of extra points that can be applied when calculating the interest rate on the loan for the borrower, determined by the Bank independently, but not more than 7%, according to the note.

Earlier in January, media reported that Russian University students temporarily lost access to educational loans with state support. As explained then in the Ministry of education in December 2016, the Ministry received a letter from Sberbank of Russia with the request on amendments to the regulations governing the payment of education loans. Sberbank, a decision was made to temporarily suspend the issuance of loans.

The Ministry of education then announced, leading the work necessary to resume issuing student loans in the shortest possible time. Later, the Agency announced that it has analyzed the practice of granting of educational credits in Russia and had sent the results to the government, and specific proposals does the Ministry of Finance. In November Minister of education and science Olga Vasilieva has announced that the program for issuing educational credits will be resumed in the autumn of 2018.