Student loans pursuant to the SDCLA

Your first task is to finish, not seeking temporary solutions for the payment of tuition fees.

The Student Loan under the Student and Doctoral-Candidate Loans Act (SDCLA) is guaranteed by the state and is intended for targeted funding of students and post-graduate students for the whole or part of the training period according to the curriculum. The loan is granted without collateral and without solvency analysis.

Furthermore:

With Student Loan of BulgarianAmerican Credit Bank:

  • you can pay your tuition fees and / or cover child support if you become a parent during your studies;
  • you have a grace period of up to one year from completion of your education without having to repay any amount of the loan;
  • you do not owe payment of fees, commissions or other expenses directly related to the granting and management of the loan.

Students or post-graduate students are eligible to apply for Student Loan pursuant to LSPSA if at the time of application they meet simultaneously the following requirements:

  • are Bulgarian nationals or have citizenship of another Member State of the European Union, another country of the European Economic Area or the Swiss Confederation;
  • have not yet attained the age of 35;
  • are attending full time form of education for acquiring a qualification degree of Bachelor or Master or a Doctoral degree in a state or private higher education institution or a scientific organization established and operating lawfully in compliance with the Higher Education Act;
  • have not acquired the same educational qualification or educational and academic degree;
  • have not been expelled or discontinued their studies, except in cases provided for in the Loans for Students and Post-graduate Students Act.

The right to a loan for child support arises at birth or full adoption of a child during the education period. The right is enjoyed by the parent who exercises parental rights, and if both parents have parental rights - only by one of them.

Currency: BGN

Minimum amount: 

  • loan for payment of tuition fees - the amount of the loan is determined based on the fees due for a period equal to the remaining education period of the student/ doctoral student according to the curriculum of the respective specialty and the educational qualification or academic degree;
  • loan for child support – the amount of the loan is determined based on the fees due for a period equal to the remaining education period of the student/ doctoralstudentaccording to the curriculum of the respective specialty and the educational qualification or academic degree. Tuition allowance is equal to the minimum wage multiplied by the number of months during the respective semester.

The loan is drawn down in stages as follows:

  • the loan for payment of tuition fees is drawn down by transfers to the bank account of the higher school or the scientific organization
  • the loan for child support is drawn down by transfers to the bank account of the student/ doctoralstudentopened with the BACB.

Grace period:

  • The grace period is the period from the conclusion of the loan agreement until the expiry of one year from the first date of the last state examination or defense of the diploma thesis according to the curriculum for the respective specialty and the degree of education, respectively from the expiry date of the specified term of doctoral studies;
  • During the grace period the student / doctoral student does not pay principal and interest on the loan;
  • During the grace period, the Bank charges interest on the drawn down portion of the loan and the rate shall be annualized.

Repayment: in equal monthly repayment instalments.

The repayment of the loan begins one month after the expiration of the grace period according to the repayment schedule, which is drawn up at the last day of the grace period.

Repayment period: up to 10 years (120 months) after the expiration of the grace period

Annual fixed interest rate: 6%

NO fees and commissions

Application documents:

  • Application for a loan (on a form provided from the Bank);
  • Copy of an identity document;
  • Document issued by a higher school or scientific organization certifying the capacity of a student / doctoral student in full-time education with the right to enroll for the next semester;
  • other documents, if necessary to fulfill legal requirements;

In case of a loan for child support, along with the above documents the following documents shall be provided:

  • A copy of a birth certificate in which the student / doctoral student is designated as a parent or a copy of an enforceable court decision granting the request for adoption and in which the student / doctoral student is designated as an adoptive parent;
  • A document issued by the higher school or scientific organization certifying that the student / doctoral student was of such capacity in the year of birth or adoption of the child.

Documents