Student loan system in Lithuania

2009 m. vykdant mokslo ir studijų reformą Lietuvoje esminių pakeitimų sulaukė ir studentų kreditavimo (paskolų) sistema. Vietoje valstybės paskolų iš kredito įstaigų lėšų pradėtos teikti valstybės remiamos paskolos su valstybės garantija. Suvokiant studentų kreditavimo sistemos svarbą didinat studijų prieinamumą aukštojo mokslo sektoriuje, šiame straipsnyje nagrinėjama šiuo metu Lietuvoje veikianti lengvatinių paskolų studentams sistema, jos kaita ir plėtros galimybės. Remiantis užsienio autorių darbais, analizuojama studentų kreditavimų sistemų problematika. Empirinėje straipsnio dalyje analizuojami Valstybinio studijų fondo skelbiami duomenys apie valstybės remiamų paskolų gavėjus, paskolų rūšys ir paskolų mechanizmui skiriamas lėšas.In 2009 science and education reform in Lithuania was implemented, which attracted significant changes to student loan system. Instead of state loans the state-supported loans system from credit institutions with a state guarantee was launched. Recognizing the importance of the student loan system in increasing the availability of studying in higher education sector, this article examines the currently operating student loan system in Lithuania, its shift and development opportunities. According the studies comprised by foreign authors, the issues of student loan system are analyzed. The empirical part of the article analyzes the statistical data on state-sponsored loan borrowers, loan types and loan funding mechanism. In Lithuania students of all cycles may receive state-supported loans, which have a state guarantee. The loans are administrated by the State Studies Foundation, but are paid by credit institutions, which are selected through a public procurement procedure and using money of the credit institutions (banks). There are three types of state-guaranteed loans: State-supported loan to cover tuition fees – no more than the normative cost of study set by the minister of education and science per year; Statesupported loan to cover living expenses - up to 6500 LTL (1882 EUR) per year; State-supported loan for periods of study abroad (Erasmus) – up to 7800 LTL (approx. 2260 EUR) per year. All students who meet settled requirements can get state guaranteed loans. Students have to pay only interests while they study. The repayment of the loan begins one year after the graduation or termination of the studies and the loan should be repaid within 15 years. For students, who take loans to cover tuition fees, the state pays the interest that exceeds 5 %. Nevertheless, all students can apply for interest payment during their studies. Priority is given: (in the descending order) to students with social needs, disable students, students who are in custody; students taking loans for studies abroad, students taking loans to cover tuition fees, students taking loans to cover living expenses; and finally depending on the study cycle, form of studies, and merit. Until the higher education reform in 2009 the vast majority of the loans were issued to students to cover their living expenses. In connection with the implication of changes in the lending scheme in 2012, credit institutions were able to issue government-guaranteed loans for 80 million LTL, allowing more students to receive a state loan. Since 2009, students in general took loans to cover their tuition fees. It can be said, that in recent years the number of state-backed loans has stabilized. In 2009 4577 statebacked loans were provided, in 2010 - 5371, 2011 - 7610 and in 2012 – 6702. It possible to conclude, that students got more confident in the state loan system. Nonetheless, there are a lot of issues to be addressed, like interest rates and etc., discussed and to be solved