Student loan becomes available to students of private universities and colleges

2021-01-14 15:59:53

At its regular meeting on January 13, in light of the financial problems citizens are facing due to the pandemic, the Cabinet amended the Regulations on Issuance and Repayment of Student Development Loan to provide support to students of local universities and colleges in the following two ways for the academic year of 2020-2021.


Specifically, an amendment has been made to allow students majoring in priority and other academic disciplines at local public and private universities and colleges with grade point average (GPA) of 2.8 or higher to get the student loan that had been available only to students majoring in priority academic disciplines at public higher education institutions. 


The one-shot scheme, aimed at supporting students majoring in disciplines other than the prioritized ones necessary for the country during Covid-19 will be funded from MNT 24.8 billion, earmarked in the 2021 budget for student development loan program.


Moreover, another amendment has been made to lower the minimum general entrance exam score of 501 (required to entitle those enrolling in nursing programs at public higher education institutions to first semester tuition waiver) to 450. There are 1,536 students that meet the new requirement and MNT 3.1 billion will be spent for the tuition waiver scheme.


At the Cabinet meeting, Minister of Education and Science L.Tsedevsuren was instructed to issue regulations on reducing tuition or offering the discount on next semester’s or year’s tuition as classes have moved online due to the pandemic. 

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