University partners up with Russian Agricultural Bank
The ceremonious signing of an agreement between Ulyanovsk State University and a local branch of Russian Agricultural Bank, “RosselkhozBank”, took place on February 3 in the main conference hall of the university administrative building.
The joint initiative is part of the plan proposed by Russian president Dmitry Medvedev aiming to expand and enhance financial support for higher education students. Under the agreement, prospective and current USU students from rural areas of Ulyanovsk region will be able to obtain education loans from “RosselkhozBank” at favorable interest rates.
Rector Boris Kostishko pointed out that the agreement is supposed to help maintain the declining enrollment rate, partly attributed to severe job losses that the region is presently facing, the reason why a growing number of parents are unable to pay for their children’s education. Eduard Kutygin, director general of the local branch of “RosselkhozBank”, spoke to those assembled at the ceremony, among them directors of various USU units, about student loan terms: the loan period is up to 10 years, the maximum loan amount is 350 thousand rubles, the fixed interest rate, one of the lowest in the region, is 13%.
“I am very glad to be able to offer this opportunity to Ulyanovsk State University students”, said Mr. Kutygin. “I am also a USU graduate, and it’s good to realize that we can help the kids from the countryside, who account for 25% of the total student body”.