Tashkent, Uzbekistan (UzDaily.com) -- Commercial banks can issue educational loans for education of students - citizens of the Republic of Uzbekistan, admitted to full-time departments of higher educational institutions on a paid contract basis, to the students themselves, their parents or trustees.

Educational loans to persons admitted to study in a bachelor’s degree are issued for up to 10 years, for a master’s degree - for a period of up to 5 years.

For educational loans provided by commercial banks, the following interest rates are set:

orphans, pupils of boarding schools "Mehribonlik" and disabled from childhood I and II groups - zero interest rate (interest-free credit);

for other categories of students - starting from 1 January 2020 at market rates, with the possibility of using a compensation mechanism in terms of interest expenses at the expense of the “Yoshlar - kelajagimiz” Fund.

To obtain an educational loan, the following documents are submitted to the bank:

statement;

agreement (contract) on training on a paid-contract basis;

document on securing loan repayment;

orphans, inmates of boarding schools "Mehribonlik", disabled from childhood I and II groups, people from low-income families who are eligible for preferential educational loans, submit the relevant supporting documents.

Simultaneously with the above documents submitted to the bank, the borrower personally presents a passport. The bank has the right to make the necessary extracts and copies from the passport and other submitted documents.