State student loan provider could introduce loans for vocational training

Budapest, August 9 (MTI) – State-owned student loan provider Diákhitel Központ is mulling the introduction of loans for vocational training programmes, Csaba Bugár, the institution’s director, told daily Magyar Nemzet on Tuesday.

The loan would also be accessible to people over the age of 40 to promote life-long learning, unlike the existing general-purpose or tuition fee loans, Bugár said.

He revealed that around 14 percent of students fail to complete their higher education studies. Since its inception in 2001, Diákhitel Központ has had to terminate some 20,000 loan contracts due to nonperformance, Bugár said. Right now the institution has around 3,000 clients who are failing to pay back their loans, he added.

On the other hand, one-third of the 373,000 students who have taken out loans over the past 15 years have fully paid them back, Bugár told the paper.

Photo: trubadurmagazin.hu

Source: MTI/MNO