The Russian government will allocate 1.2 billion rubles to support educational loans with a state subsidy set at 3 percent per year. The decision was formalized in an order signed by Prime Minister Mikhail Mishustin and announced on the government portal.
The funds will come from the federal budget, and the program is designed to subsidize more than 135.5 thousand affordable loans for students enrolled in universities and colleges across Russia. This initiative aims to ease access to both secondary vocational and higher education for a broad student population, ensuring that financial barriers do not prevent pursuing studies. [Attribution: Government portal]
On behalf of President Vladimir Putin, the government has reduced the rate for state-supported education loans to 3 percent annually. This rate applies to loans taken for educational purposes and is part of a broader effort to make education more affordable for families and individuals. [Attribution: Official government communication]
The loan can be used to finance education starting from the age of 14, covering both vocational programs and university degrees. The government reimburses banks the difference between the preferential rate and the market rate, effectively lowering the cost of borrowing for students. During the entire study period and for nine months after graduation, the borrower is charged interest only on the loan itself. The remaining amount is repayable within 15 years, with early repayment permitted if the borrower chooses. [Attribution: Government program guidelines]
Previously, sources such as Socialbites.ca discussed how the State Duma influenced the daily lives of Russians in 2023, highlighting legislative and social developments that intersect with education funding and student support. This context helps explain the government’s continued focus on making education more accessible through targeted financial instruments. [Attribution: Coverage of legislative context]