Ulaanbaatar
Regulations for Providing Financial Support to Students Approved
Politics
Ulaanbaatar, March 7, 2024.
/MONTSAME/. During its regular session on March 6,
2024, the Cabinet of Mongolia approved three regulations related to financial
support to students studying in domestic and international institutions and
teachers.
The regulations cover procedures for providing loans, scholarships,
and grants to students studying domestic and international higher-educational
institutions; scholarships for pursuing in-demand professions to a child of the
teacher and employee who is working in public and rural education institutes; providing
financial support to teachers and employees of public and local kindergartens,
secondary schools, vocational schools, and polytechnic colleges.
The regulations outline requirements to be eligible to
receive government scholarships including
pursuing sub-bachelor and bachelor's degree programs, majoring
in prioritizing or in-demand professions.
In compliance with the legal framework reform in the
education sector and the direction given by the Government of Mongolia, the
regulations were developed to improve the system for providing scholarships,
loans, grants, and loan repayment as well as making the operation of the student
loan fund open and transparent.
By adhering to these regulations, the expectation is to
minimize human involvement in the student selection process for loan issuance,
ensure a fair, transparent, and open selection process, and establish a system
for effective assessment, evaluation, and creation of favorable repayment terms
for loans, grants, and annual financial support.
