The government will introduce a preferential rate for educational loans - only 3% per annum. The grace period for the loan for job search is being extended (from 3 to 9 months) and the repayment period after the end of the grace period (up to 15 years), Prime Minister Mikhail Mishustin said .

“Until now, the conditions for issuing educational loans were similar to consumer loans. To make them more profitable for those who receive higher and secondary vocational education on a paid basis, a fixed interest rate is set at 3% per annum,” the prime minister said.

According to him, the 3% rate can also be extended to educational loans received before the government decree came into force. But for this you need to submit a corresponding application to the bank.

Currently, the state-owned Sberbank issues educational loans with state support at 8.5% per annum. The total interest rate on this loan is 13.01% per annum, but 4.51% is covered by government subsidies.
Nowadays, educational loans can be taken out for studying at any licensed university. While studying, the student will pay only part of the interest on the loan: in the first year - 40% of the calculated amount, in the second year - 60%, from the third year - interest in full plus unpaid interest for the first and second years of lending, Vedomosti wrote . "
Education on credit in Russia is poorly developed - we are probably talking about thousands of loans per year. In contrast, in the US it is a huge market (45 million loans worth $1.6 trillion) and the source of a significant part of the population's debt burden.

The government will provide a 3% rate on educational loans