Student Loan Becomes Interest Free

  • 20 Sep 2017 9:04 AM
Student Loan Becomes Interest Free
The government abolished interest payments on the so-called student loan No 2, the tuition fee student loan, state secretary of the Human Resources Ministry Katalin Novák announced on Tuesday. This also effects the loans which had already been taken up, she added.

The announcement was expected, Napi adds as president László Böröcz of Fidelitas, the youth organisation of Fidesz, asked the government to cut the interest rate of student loans from 2% to 0% two days ago, Napi added.

The interest rate on the free disposal student loan, the so-called student loan No 1, remains at 2.3%, but the government has increased the maximum monthly limit from Ft 50,000 to Ft 70,000.

Source: Hungary Around the Clock

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