Student Loans: The Government Guarantees up to 30 Million BGN for 2026

The Government Guarantees Student Loans up to 30 Million BGN for 2026

In a bid to ensure wider access to higher education, the government has decided to provide a state guarantee for student and doctoral loans of up to 30 million leva for 2026. This move aims to expand educational opportunities for young people who cannot afford to cover their education and living expenses. The announcement, distributed by the press service of the Council of Ministers, underscores the state's commitment to financially supporting students and doctoral candidates.

The loan program will be available to citizens of the Republic of Bulgaria, as well as students from other member states of the European Union, the European Economic Area, and the Swiss Confederation. This decision is expected to boost the educational ambitions of thousands of young people.

Financial Support in Figures and Comparisons

According to data cited by the Council of Ministers, over 138,000 full-time students and nearly 2,500 doctoral candidates will be eligible to benefit from this financial assistance next year. These young people are distributed across 38 state and 14 private higher education institutions in the country. The state has already signed partnership agreements for lending with six leading banks, which ensures the program's operability.

Despite the decision for the new guarantee, the BTA reminds that the amount of funds has been reduced compared to a previous period. In 2023, the state guarantee for the same purposes was set at up to 40 million leva. This represents a significant budget cut, which may raise questions about the government's long-term strategy for supporting higher education.

Long-Term Perspective and Achieved Results

According to an earlier announcement from the press center of the Ministry of Education and Science (MES), the state guarantees both the principals and the interests on the young people's obligations, which is a key element of the financial support. This system has been in effect for a long time and has yielded significant results.

For the period from September 1, 2010, to December 31, 2022, a total of 22,088 loans were granted to students and doctoral candidates. The total value of these loans reaches the impressive sum of over 159 million leva.

This data attests to the lasting effect and the need for such programs that facilitate access to education for a wide range of young people. However, the reduction in the guarantee amount for 2026 raises the question of whether the same scale of support can be achieved in the future.