Student Loan

Government’s Guaranteed Study Loan

This study loan covers 100% of your tuition.
 
In order to apply for the loan you require a guarantee by 1 physical person.

Acceptance criteria for the guarantor:

• Not older than 65 years of age; 
• Regular, monthly income not less than the minimum monthly wage;
• A guarantor can be any of your parents.

Study loan is transferred to the bank account of college.
 
Loan Repayment

• During the course of studies and 11 months after the gruaduation date there is no need to make any repayments of your loan (Rate of Interest = 0%).
• Interest payments on study loan (not more than 5% annually) start as of next month after repayment of the principal amount of your loan!

Loan repayment can be postponed for a definite period of time in the following situations:

• If you are in the maternity leave or the post delivery leave;
• If you are in the maternity leave until your child is one and a half years old and you are not employed full time;
• If you continue your Master’s studies, Doctorate or residency.

Get some more information and use the Calculator of Monthly Payments of the government’s guaranteed study loans!

If a baby is born during the process of receiving or replaying your study loan, after graduation the government settles 30% of the received loan for every student’s child.

The government can settle your study loan instead of you if you become the government or municipality employee.

How to apply for the government’s guaranteed study loan?

• Visit the Info Centre at Latvia Business College and fill in the application specifying a loan of interest;
• Receive confirmation that your application was accepted and forwarded to Sedbank;
• Visit the nearest branch of Swedbank and conclude your loan agreement;
• Don’t forget your passport!

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