Skip to Content

Thursday, September 23rd, 2021

Nearly 200 student dormitories to be built by the end of 2022 – MES RK

by April 14, 2018 Legal

� Tell us what measures are being taken to implement the President’s third social initiative “Increasing the accessibility and quality of higher education and improving the living conditions of students.” In particular, on grants: what specialties will they be allocated for?

� The third social initiative of the Head of State is aimed at raising the level of education. In particular, this is the allocation of additional 20 thousand grants. Of these, 16 thousand are for bachelor degree, including 11 thousand for technical specialties, 5 thousand for other specialties in demand by the labor market. 3 thousand � for Master’s degree, 1 thousand � for PhD.

In 2017, for the first time in five years, an additional 10 thousand grants were awarded. So, previously 28,902 grants were awarded each year for Bachelor’s degree. Last year, 35 thousand grants were allocated. At the magistracy the number of grants has also increased from 7 thousand to 10 thousand. This year, another 20 thousand grants have been allocated. In general, the size of the state educational order is more than 66,389 educational grants.

At the moment, the Financial Center is developing the scheme. Annually, the number of grants is formed on the basis of the needs of higher education institutions.

To date, there are different educational programs. Financial Center JSC is the operator of the state educational funded system. People call them educational deposits. The main difference between educational deposits is that any citizen of Kazakhstan can open an educational deposit for herself or her child and receive a state premium in addition to bank rewards. This program was also developed on the initiative of Nursultan Abishevich. If any citizen of Kazakhstan opens an educational deposit, except for bank rewards up to 14%, the state annually accrues a premium on the balance of the sum in the form of 5 or 7%: 5% for ordinary families, 7% for children from socially vulnerable segments of the population.

It is also necessary to note that this program is not only for children, you and I also can open this type of state aid.

Let’s move from the words to the numbers. For example, if you take an eight-year-old child, for whom parents open a deposit. Take a small amount. If you accumulate at 8500 tenge, then for 10 years until the child finishes school, he will have 1 million tenge. The state and the bank give over 2 million tenge. The total amount is 3 million tenge.

In case a child receives a grant, he has the right to use all 3 million together with the state premium and bank rewards for his other purposes, or he can transfer to a third person, or accumulate further to obtain a different level of education. This is a very big help for the family’s economic budget.

If the child does not receive a grant, then he can receive education on these funds. From the bank’s account, funds are transferred to the settlement account of the university every year. For example, the first year at university costs 500 thousand tenge. This money is transferred from the bank account to the account of the university. But the state does not stop charging the premium. So the bank does not stop. At 2.5 million, a state premium will also be awarded. And so every year a premium is awarded and after graduation he has the right to take the remaining funds. Also this is not limited to Kazakhstani universities: a child can enroll in foreign university. There is such a program.

In addition, if he couldn’t accumulate funds for education, ha can take an educational loan in banks participating in the state program. To date, these are Nurbank, Tengribank, Forte Bank. Interest rates range from 10% to 20%. But the main feature is that the loan period can be extended to 10 years. During the training he is given a grace period. During the training, he doesn’t have to pay the main debt, he can pay only interest on debt. He can pay off the main debt after six month after he graduates from high school. This program has been working since 2005. Also designed as needed.

Source: The Prime Minister of Kazakhstan