What is Educational Student Loan Fund?
Educational Student Loan Fund was established by a Decree of President Ilham Aliyev on June 17, 2021. The procedure of granting student education loans was approved by Law 226 of the Cabinet of Ministers on July 24. Educational student loans are granted to students-citizens of the Republic of Azerbaijan receiving fee-based and full-time education during the normative period of study at the educational institutions operating in the Republic of Azerbaijan. A student who receives educational loan must not have an academic debt in the last semester.

The Social TTK is issued at 2 percent.To receive the Social TTK, a student must have one of the following conditions:
1. A member of a family receiving targeted state social assistance;
2. a person with a 31-60 percent disability (group 3);
3. Recipients of labor pensions for loss of breadwinner;
4. Persons who took part in military actions for territorial integrity of the Republic of Azerbaijan and received the title of "war veteran";
5. Both parents (and if he/she has one parent):
- Disabled with an impairment of body functions from 61 to 100 percent (group 1 or 2) ;
- If officially registered as unemployed;
- If he/she receives an old-age pension;
- If he/she receives old-age social benefits.

A standard loan has an annual interest rate of 6 percent. To be eligible for a standard loan, a student must meet all of the following conditions:
1. If the student's overall grade point average (UOMG) is 71 or higher.
2.If he/she is self-paying 20 percent of the annual tuition
3.Those who are not eligible for social loan

This duration depends on the student's current level of education, periods of grace and deferrals (see questions 9-10) provided by the relevant Cabinet of Ministers decree. For example, it may be 14-22 years at the bachelor's level, 12-18 years at the master's level, and 12-19 years at the secondary and vocational education level.

Students whose tuition is paid from the state budget (families of martyrs, people with disabilities, internally displaced persons, etc.) are not eligible for educational loans

After the student has received the consent form and has logged into the portal: Step 1: The educational information entered by the student is confirmed by the educational institution. Step 2: the system checks for social status by searching the appropriate databases based on the student's and parent's financial ID codes. Step 3: if the above processing results meet the terms of the TTK, the information is transmitted to the commissioning bank with the student's consent.(otherwise see Question 18) Step 4: online loan processing takes place between the student and the commissioning bank, and the tuition fee is transferred to the educational institution.

250 points for the Bachelor's level; (for students entering majors requiring special abilities, 100 points) 50 points for the Master's level; 110 points for the Sub-Bachelor's level.

In the amount of the officially approved annual tuition fee for this specialty in the educational institution for one semester: for example, if the annual tuition fee for a student is 2000 manat, then under the social TTC: for the first semester will be allocated credit of 1000 (2000/2) manat; for the second semester will be allocated credit of 1000 (2000/2) manat. On standard TTC: first semester 800 ((2000-2000*20%)/2) will be allocated credit in manat; second semester 800 ((2000-2000*20%)/2) will be allocated credit in manat; * Education loan calculator: https://e-ttkf.edu.az/account/CreditCalculator
Note: The tuition fee paid by a student receiving social TTC for a semester will be paid in full, while for a student receiving standard TTC, the amount exceeding 20 percent of the annual tuition fee may be refunded to the student by the educational institution or transferred to the next semester.

During the full-time education period, grace period, and deferment periods (see questions 9-10).

The student has two years to be employed or engaged in entrepreneurial activities after graduation in order to repay the TTK. This period is called a grace period, and if the borrower is not found to be engaged in a work or business activity during this period, no repayment of the TTC is required from the graduate and no interest will be charged.

During the period of TTK repayment deferment is provided and the term of the loan agreement is extended to this period: full-time education at the level of higher education; period of active military service; conviction (imprisonment or restriction of freedom for not more than 4 years); in respect of a working borrower for pregnancy and childbirth and child care until the child reaches three years; period of being in partially paid social leave; period of care for children with disabilities under 18 years and persons with disabilities of I degree.

The benefits applied to interest and loan repayment based on academic performance depend on the student's educational performance. For example: students who have a social type grade point average of 71 and a standard type score of 91 or higher do not accrue interest on the loan received for that semester; students who have a grade point average of 91 or higher for all academic semesters during the regulatory period of study are exempt from reimbursement for a portion of the social TTK they receive of 50 percent and the standard TTK of 25 percent. * These benefits apply at the end of the semester and education level, as originally contracted.

No collateral or guarantee is required at the time of granting TTK, and the student's previous credit history is not reviewed.

Yes, if it is determined that the graduate is engaged in an employment or business activity before the end of the grace period, the obligation to repay his or her credits arises from the date the activity begins.

The borrower is insured against death and total or partial disability (incapacity for work). An insurance premium of 2.5 percent is charged on the total loan amount, which is added to the TTC amount and paid in installments at the same time as the loan amount. In the event of any of these circumstances, repayment of the loan received is not required of the borrower, and this amount is paid by the insurer.

The student must go to any notary's office to confirm a series of agreements (to access his or her information by querying the information systems and resources of the respective institutions) to enter into an educational loan agreement(along with a parent or dependent, if under the age of 18). * This application can also be used for subsequent applications.

You can log in with a notated application number and ASAN Login system. *Link to registration for easy login: https://asanlogin.my.gov.az/auth/with-pin?origin=&openSignUp=9

The student receives a text message about the status of the application and every status change related to the loan disbursement, and can view the statuses in detail in the application tracking section of the portal.

The TTK is done electronically, remotely. The link and one-time password (OTP) are sent by the bank via SMS to the cell phone number that the eligible student recorded during the initial application. After the student clicks the link, he/she enters the one-time password (OTP), after which the bank-customer facial recognition system is activated and the customer is identified. After the student confirms the relevant data in the system, the loan agreement and the loan insurance contract are executed.

Persons working under an employment contract or engaged in entrepreneurial activities, but not repaying TTC in accordance with the payment schedule, TTK payments will be withdrawn from salaries or other income in the manner prescribed by the Decree of the Cabinet of Ministers of 24.07.2021 No. 226.

There are no additional bank fees or commissions on the student loan for education.

In public and private educational institutions of the Republic of Azerbaijan, officially operating at the level of bachelor (basic (higher) medical education) and master (residency) higher education, at the level of secondary special education and at the level of higher technical professional education, on a full-time basis during the normative period of study and with no academic debts at the end of the previous semester.