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STUDENT LOANS SET TO BE EXPANDED TO COVER FUNDING FOR VOCATIONAL TRAINING

 

The economic cabinet has proposed expanding student loans offered by the state-owned provider to cover funding for vocational training and adult education starting from the spring semester of the next academic year, Finance Minister Mihály Varga said. The measure would help finance the studies of 57,000 people participating in adult education programmes and 220,000 students enrolled in vocational training programmes, Varga said after a meeting of the cabinet. Students in the programmes could be eligible for a monthly general-purpose loan of up to 150,000 forints (EUR 429), Varga said, adding that they would have ten years to repay the loan after graduation.
Introducing student loans for vocational training programmes would help boost the country’s competitiveness and support employees in acquiring up-to-date and marketable knowledge, he added.