Government plans to create interest-free loan fund for higher education

Friday, 10 September 2010 18:11

The Ukrainian government is preparing to set up a fund to provide interest-free loans for education for a period of 20-25 years, Deputy Prime Minister Serhiy Tihipko told the press on Tuesday.

He informed that the activity of the fund will be managed in such a way that a student will be taught for 5 years, and then and he/she will be returning the funds for 15-20 years. "This fund will be constantly renewed," Tihipko underlined.

The deputy premier also said that work is underway to provide a greater autonomy to universities. "First and foremost, this relates to the money that they earn. Today this system is poorly organized: a university has the money, but it cannot use them to raise wages to teachers, or spent on construction of a dormitory, or equipment," he emphasized.

Tihipko also said that the government has decided to put in the 2011 budget funding for education and training for 100 teachers and 100 graduates and 100 students abroad with a further return to Ukraine.


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