Student Loan Fund announces partial forgiveness for 2,360 graduates

Nearly 761,000 manats in student loan funds have been forgiven by the Education Student Loan Fund, according to its Chairman, Behruz Azimov.

Azernews reports that Azimov made the announcement during a presentation at an event in Baku marking the four-year activity report of the Education Student Loan Fund.

He noted that under the loan repayment rules, graduates who demonstrate high academic performance during the standard period of study are eligible for partial loan forgiveness funded by the state.

Specifically, graduates with strong overall academic results received benefits under 681 Social Student Loan (TTK) contracts, with 50% of their loan amounts forgiven, and 1,679 Standard Student Loan contracts, which qualified for 25% loan forgiveness. As a result, a total of nearly 761,000 manats in student loan funds has been written off.