Tashkent, Uzbekistan (UzDaily.com) -- Commercial banks may give educational loans for training students - citizens of the Republic of Uzbekistan, accepted for full-time departments of higher educational institutions on a paid-contract basis, to students themselves, their parents or guardians.

Educational loans to persons admitted to undergraduate studies are issued for a period of up to 10 years, and for magistracy - for a period of up to 5 years.

For educational loans provided by commercial banks, the following interest rates are established:

- for orphans, pupils of Mehribonlik boarding schools and disabled people from groups I and II - zero interest rate (interest-free loan);

- for other categories of students - starting from January 1, 2020 at market rates, with the possibility of using the compensation mechanism in terms of interest expenses at the expense of the Yoshlar - kelajagimiz Fund.

To obtain an educational loan, the following documents are provided to the bank:

- statement;

- contract (contract) for training on a paid contract basis;

- a document on ensuring repayment of the loan;

- Orphans, pupils of the Mehribonlik boarding schools, people with disabilities from childhood of groups I and II, people from low-income families who are entitled to receive preferential educational loans, submit relevant supporting documents.

Along with the above documents submitted to the bank, the borrower personally presents a passport. The Bank is entitled to make the necessary extracts and copies from the passport and other documents submitted.