State-sponsored student loan (Bachelor)

Receive state coverage for your education expenses throughout your studies. Acquire the international education you deserve, and commencement of loan repayment will commence only a year after graduation.

A state-sponsored student loan Students are eligible for preferential conditions through credit institutions (banks). Each academic year, students can apply for a new loan to cover tuition fees and living expenses. The State Study Fund loan encompasses both tuition fees and living expenses. Interest begins to accrue only after graduation, and repayment starts a year after graduation, with an average monthly payment of 130 EUR (when Euribor is 0), including interest. www.vsf.lt).

1. Obtain your school certificate, submit a study application, and sign a contract with ISM University.
2. Submit a request to the ISM Finance Department for a tuition fee deferment until the end of October. Provisionally, you will be granted a loan. The request form to postpone the payment deadline can be found HERE. Applications are submitted by e-mail: hd.fin@ism.lt.
3. In the second half of August, apply for a study loan from the State Study Fund. You can fill out the application by logging in through the Fund’s information system. IS PASKOLA, also through E-government portal. The application can be completed for a semester or for the entire academic year. Applications for the full academic year or the fall semester are processed in the fall, and for the spring semester, applications are processed in the spring.

The loan guarantee is provided for a maximum of one year of study, in order to get a loan for the next year, you need to fill out a new loan application.

1. To have your interest paid with state funds during the study period, make sure to tick the box indicating your participation in the competition for interest payment when filling out the application.
2. The Director of the Fund approves the list no later than within 10 working days from the end of the application deadline. Within 1 working day of the list’s approval, the deadlines for signing loan agreements, information about credit institutions providing loans to students, and other relevant loan-related details are published on the Foundation’s website.
3. In the first half of October, after accessing the system to fill out the borrower’s application, you will receive the State Study Fund’s decision on loan approval. Following this, you will be invited to finalize a loan agreement with the bank.
4. By the end of October, you must apply to the credit institution to sign the contract.
5. After concluding an agreement with the bank, the funds for your first semester of studies are transferred directly to the university. If you were granted a loan guarantee for one academic year, you must visit the bank in the spring to request the disbursement of the remaining part of the loan. Failure to do so will be considered as a refusal of the loan.
6. After graduation, the loan must be paid off within 15 years. If you took out a loan for the entire cost of ISM bachelor’s studies and for the entire period of study, the average monthly payment after your studies will be ~130 EUR. This is applicable at the current interest rate (2.9% bank margin + 3-month EURIBOR), and it is renewed annually.
7. The state loan repayment term can be deferred. A borrower whose monthly family income for one family member over the past 6 months was no more than 50 per cent higher than the amount of state-supported income initially applies to the credit institution for the deferment of loan repayment. If the credit institution denies the request for postponement, the borrower then has the right to submit a request to the Fund to postpone the loan repayment deadline.

More information about student loans can be found at: https://vsf.lrv.lt/lt/studentams/vrpaskolos