6.25% fixed interest rate for the entire loan period

As from the conclusion of the loan agreement until expiry of one year since the first date of holding the last state exam or diploma thesis presentation as per the curriculum, respectively the date, on which the doctoral thesis research period expires.

The total amount of the Borrower’s liability is being formed after expiry of the grace period and includes: The principal, which amount is being determined by the sum of provided funds for covering tuition fees and/or subsistence costs, and the interest, payable by the Borrower over the loan agreement tenor. The accrued interest during the grace period is being capitalized on an annual basis.

Loan for payment of semester tuition fees – the loan amount is being formed based on the due tuition fees for the Borrower’s remaining period of study as at the moment of signing the loan agreement, as per the curriculum of the respective major and level of education and qualification or educational and scientific degree.

Loan for covering subsistence costs – the loan amount is being formed as a sum total of the semester subsistence amounts for the Borrower’s remaining period of study as at the moment of signing the loan agreement, as per the curriculum of the respective major and level of education and qualification or educational and scientific degree. The semester subsistence amount equals the minimum salary for Bulgaria, multiplied by the number of months of the respective semester.

Loan for payment of semester tuition fees – the funds for the fee, payable for the first semester of the first year of study will be paid by the Borrower and will then be reimbursed by the Bank to an account of the Borrower within a 3-day period of providing a document, proving that the tuition fee has been paid. The funds for payment of tuition fees concerning the second and subsequent semesters will be utilized through fund transfers to a bank account of the higher educational institution /scientific organization, while the drawdown deadlines are being determined in accordance with the tuition fee payment deadlines, as specified by the respective educational institution /scientific organization. The loan will be drawn down in tranches, as the number of tranches will equal the number of semester tuition fees.

Loan for covering subsistence costs - through fund transfers to a current account of the university student /doctoral thesis researcher with UBB, during the first month of every semester. The loan will be drawn down in tranches, as every tranche will equal the subsistence costs during the semester.

After the grace period expiry, the loan will be repaid in equal monthly annuity installments, including principal and interest, incl. the capitalized one during the grace period.

Eligible applicants for this type of loan are university students and doctoral thesis (PhD) researchers, who simultaneously meet the following criteria:

- Bulgarian citizens, citizens of another EU member state, of another country from the European Economic Area or of the Swiss Confederation;
- Who are below 35 years of age;
- Who study as full time students for completing a Bachelor’s level of education or qualification (academic Bachelor’s Degree or professional Bachelor’s Degree) or a Master’s level, or a Doctor’s educational and scientific degree at a lawfully established state-owned or private higher education institution, or a scientific organization in the Republic of Bulgaria as per Art.47, Para 1 of the Higher Education Act;
- Have not acquired an identical level of education or qualification or an identical educational and scientific degree;
- Have not been dismissed or have not interrupted their studies, except for cases, explicitly stated in the Lending to University Students and Doctoral Thesis Researchers Act;
- Do not have other credit liabilities, which have not been services for more than 6 months.

When the university student studies simultaneous acquiring of more than one major for one and the same level of education or qualification, he/she may choose to obtain a loan for only one of those.

The loan for covering subsistence costs is being provided upon childbirth or upon obtaining full custody of a child during the period of study and may be used by only the parent, exercising parental rights, and in case both parents do so - by only one of them.