Latvia - Guidance to Apply for Student Loan

Advertisement

Procedure

Applying for the Government's Student Loan Scheme

• Go to the college or university credit granting commission complete and submit the application form and other documents.
• When the university has received the loan application approval, the student goes to the bank your passport.
• You go to the bank and the guarantor to open an account and concluding a surety agreement. Take your passport and bank statement on the regularity of income, if you are not AS "SEB banka" customer.

If the income is made in cash or income are those for which you have paid tax (for example, rental / lease payments, royalties, dividends, other operating income), then submit the annual income statement or SRS / SSIA certificate. Guarantor knows the student for which he undertakes, first name, surname and personal identity.

Cabinet regulations provided for the fee for loan application examination and evaluation is 4.27 euros, to be paid by concluding a loan agreement with the bank.

Students will receive credit after the loan agreement, surety contract and state guarantee of receipt. Student loan bank transfer to the university account, but the student will receive a student loan in your account.

Applying for a Student Loan Banks

• Decide on the amount of Loan required
• Understand which banks provide student loans.
• Apply for the student loan
• Submit all the necessary documents
• Get the loan

Advertisement

Required Documents

• Application form
• Identification documents
• A copy of your passport

Office Locations & Contacts

Information on student loans

Eligibility

If you are joined in a Latvian or foreign university or already successful completion of a study program, you can stand on behalf of the State to provide the guarantee credit, receipt of which shall be determined by the Cabinet of Ministers regulations No. 220 of 29 May 2001 "Procedure for Granting repaid and extinguished Study Loan and Student Loan from Credit Institution with a state guarantee. 2015 loans issued to students of AS "SEB banka".

To obtaining credit may qualify students - Latvian citizens and persons who are Latvian non-citizen passport, as well as other European Union nationals who have been granted a permanent residence permit or a temporary residence permit - if they successfully acquire state accredited study programs.

Fees

Explain the fees structure which is required for obtaining the certificate/document.

Validity

Explain the time until which the certificate/document is valid.
e.g. Birth Certificate Valid Forever

Documents to Use

Application Forms

Sample Documents

Samples of documents

Processing Time

Please explain processing time taken in obtaining the document/certificate.

Related Videos

Videos explaining the procedure or to fill the applications. 
Attach videos using the following tag <&video type="website">video ID|width|height<&/video&> from external websites.
Please remove the "&" inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver, 
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url "http://www.youtube.com/watch?v=Y0US7oR_t3M" Video ID is "Y0US7oR_t3M". 
	

Instructions

Students may receive two types of loans - Studies and Student

Study Loan - Intended to tuition fees. It does not go down university tuition fees and state the maximum student loan amount (the maximum amount of the credit can be obtained Ministry of Education and Science Study Administration website: http // www.sza.gov.lv).

During the study period and for as long as not started to repay student loans (11 months after graduation), the loan interest rate is 0%. From loan repayment, will have to pay the credit agreement was auctioned bank interest rate, but not more than 5% of the remaining study loan.

Student loan is designed for student living costs. It can get a full-time (full time) students. Loan amount per student does not exceed 170.74 euros per month.

This loan is paid 10 months a year (except July and August).

Student loan interest rate of the credit agreement was auctioned bank interest rate, but not more than 5% per year. Interest on the loan is payable each month. Therefore, the bank regularly this amount is deducted from the student's account.

Required Information

• Name
• Personal identity number
• Residence
• Phone
• E-mail address
• Country
• Higher education institution
• Study program
• Credit needed
• Signature

Need for the Document

Study Loan - intended for tuition fees. It does not go down university tuition fees and state the maximum student loan amount (the maximum amount of the credit can be obtained Ministry of Education and Science Study Administration website: http://sza.gov.lv/).

Information which might help

During the study period and for as long as not started to repay student loans (11 months after graduation), the loan interest rate is 0%. From loan repayment, will have to pay the credit agreement was auctioned bank interest rate, but not more than 5% of the remaining study loan.

Other uses of the Document/Certificate

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.

External Links

Latvian Ministry of Education and Science

Study and Science Administration

Student loans

Study and student loans

Others

Loan security

To receive credit, it is necessary to guarantee a single person (a person who undertakes to fulfill its obligations to the bank, the borrower himself if they fail).

The guarantor must be under the age of 64 years (inclusive), and his income must be regular and at least one minimum salary. For employees of the bank to ascertain the regularity of the guarantor's income, his salary or wage part - at least the minimum salary every month to be paid as guarantor in the account - the bank issuing student loans.

The guarantor can vouch for one of the two student (study and student) loans. The guarantor can vouch for a number of their children's loans. If students are not children of the guarantor, the guarantor can vouch for a number of credits if his monthly income not less than the legal minimum wage, multiplied by the number of students for which the warrants. A person who receives the same or be reimbursed from the state budget or from the credit funds with state guarantee to receive credit or other loans that can vouch for the student, if the person concerned a monthly total payments of credit maturity does not exceed 40 percent of the total monthly income.

Orphans (up to 24 years) loan does not require guarantors. These students receive a 100% state guarantee.

Credit can also be provided with a pledge of real estate (apartment, house, land). About credits can vouch the municipality.