A reporting event on the 3-year activities of the Education Student Loan Fund was held.
On December 20, an event dedicated to the 3-year activity of the Education Student Loan Fund was held. About 40 press representatives participated in the event organized for media representatives.
The event began with the playing of the National Anthem. Then, a minute of silence was observed in memory of our martyrs who sacrificed their lives for the territorial integrity and sovereignty of our country.
First, a film was shown about the activities of the Education Student Loan Fund over the past 3 years, the results achieved, and the contributions it has made to students.
Then, Bahruz Azimov, Chairman of the Board of Directors of the Education Student Loan Fund, made a presentation and provided detailed information to the participants about the establishment of the Fund, its goals, objectives, rules for granting education student loans, repayments, etc. It was noted that the main goal of the Education Student Loan Fund, established under the Ministry of Science and Education by Decree No. 1367 of the President of the Republic of Azerbaijan dated June 17, 2021, is to ensure access to education for people from low-income groups of the population, create equal opportunities in receiving education, and expand the scope of education. It was noted that to date, more than 58 thousand applications have been received on the TTKF electronic portal, and about 46 thousand TTK contracts have been formalized. For this purpose, about 41 million manats have been transferred to the accounts of educational institutions.
Noting that the Fund continuously carries out propaganda, agitation and awareness-raising work, B. Azimov noted that meetings were held in higher, secondary specialized, vocational and general education institutions located in the republic during the reporting period, and about 55 thousand people have participated in these meetings to date. It was also noted that more than 45 and 90 thousand applications received by the Fund's hotline and social media accounts, respectively, were promptly responded to, and the applications of about 1,000 people registered for citizen reception were investigated and appropriate support was provided.
Touching upon the work done by the Fund to support those who benefited from student loans in repaying the loans they took, B. Azimov stated that free trainings have been organized for students and graduates over the past 3 years, as well as support for their participation in various educational forums, job fairs, and career exhibitions, and dozens of young people have been employed in this regard. It was noted that cooperative relations have been established with state and private institutions to support the employment of graduates, and Memoranda of Understanding have been signed with more than 30 enterprises, thus more than 1,000 students have been involved in trainings, and more than 600 students and graduates have benefited from internship programs.
It was brought to the attention of the participants of the event that there is no age limit to benefit from the opportunities created by the Educational Student Loan Fund, and that a total of 69 people, including parents and children, in 23 families, 2 people in 1069 families, and a total of 2318 people, earned the title of student and received TTK.
Touching on the issue of discounts given to students during repayments, the Chairman of the Fund, V.M.I.E. B.Azimov, stated that more than 6,500 students who benefited from TTK have graduated and have started repaying the loans they took in small monthly amounts. Due to the high General Average Success Rate (GASR) of 173 students who received social TTK, exactly half of the loans they took were forgiven by the state. For about 400 graduates who received standard TTK, this discount was 25%. During the reporting period, the total amount of funds donated to graduates with high educational indicators was approximately 444 thousand AZN.
Noting that such concessions directly affect the quality of education and encourage students to work with greater determination, B. Azimov stated that the Fund is ready to continue supporting students who are receiving full-time education on a paid basis, and that applications continue until the end of the semester.
Speaking at the event, former Chairman of the Fund, currently Chairman of the Republican Committee of the Azerbaijan Free Trade Union of Education Workers, Araz Pashayev, emphasized the Fund's contributions to the development of education and the opportunities for financial support created for students, noted that this initiative plays an important role in the education system of Azerbaijan, and congratulated the Fund on its successful report. Noting that the goal of the Fund is to provide financial accessibility to students from socially vulnerable groups, Araz Pashayev called the results achieved in this direction commendable.
Delivering a congratulatory speech, Head of the Public Relations and Communication Department of the Ministry of Science and Education of the Republic of Azerbaijan, Sabuhi Rzayev, highly appreciated the activities of the Fund at a media briefing dedicated to the 3rd anniversary of the Education Student Loan Fund. During his speech, he emphasized the importance of the Foundation in providing financial support to students.
A reporting event on the 3-year activities of the Education Student Loan Fund was held.
On December 20, an event dedicated to the 3-year activity of the Education Student Loan Fund was held. About 40 press representatives participated in the event organized for media representatives.
The event began with the playing of the National Anthem. Then, a minute of silence was observed in memory of our martyrs who sacrificed their lives for the territorial integrity and sovereignty of our country.
First, a film was shown about the activities of the Education Student Loan Fund over the past 3 years, the results achieved, and the contributions it has made to students.
Then, Bahruz Azimov, Chairman of the Board of Directors of the Education Student Loan Fund, made a presentation and provided detailed information to the participants about the establishment of the Fund, its goals, objectives, rules for granting education student loans, repayments, etc. It was noted that the main goal of the Education Student Loan Fund, established under the Ministry of Science and Education by Decree No. 1367 of the President of the Republic of Azerbaijan dated June 17, 2021, is to ensure access to education for people from low-income groups of the population, create equal opportunities in receiving education, and expand the scope of education. It was noted that to date, more than 58 thousand applications have been received on the TTKF electronic portal, and about 46 thousand TTK contracts have been formalized. For this purpose, about 41 million manats have been transferred to the accounts of educational institutions.
Noting that the Fund continuously carries out propaganda, agitation and awareness-raising work, B. Azimov noted that meetings were held in higher, secondary specialized, vocational and general education institutions located in the republic during the reporting period, and about 55 thousand people have participated in these meetings to date. It was also noted that more than 45 and 90 thousand applications received by the Fund's hotline and social media accounts, respectively, were promptly responded to, and the applications of about 1,000 people registered for citizen reception were investigated and appropriate support was provided.
Touching upon the work done by the Fund to support those who benefited from student loans in repaying the loans they took, B. Azimov stated that free trainings have been organized for students and graduates over the past 3 years, as well as support for their participation in various educational forums, job fairs, and career exhibitions, and dozens of young people have been employed in this regard. It was noted that cooperative relations have been established with state and private institutions to support the employment of graduates, and Memoranda of Understanding have been signed with more than 30 enterprises, thus more than 1,000 students have been involved in trainings, and more than 600 students and graduates have benefited from internship programs.
It was brought to the attention of the participants of the event that there is no age limit to benefit from the opportunities created by the Educational Student Loan Fund, and that a total of 69 people, including parents and children, in 23 families, 2 people in 1069 families, and a total of 2318 people, earned the title of student and received TTK.
Touching on the issue of discounts given to students during repayments, the Chairman of the Fund, V.M.I.E. B.Azimov, stated that more than 6,500 students who benefited from TTK have graduated and have started repaying the loans they took in small monthly amounts. Due to the high General Average Success Rate (GASR) of 173 students who received social TTK, exactly half of the loans they took were forgiven by the state. For about 400 graduates who received standard TTK, this discount was 25%. During the reporting period, the total amount of funds donated to graduates with high educational indicators was approximately 444 thousand AZN.
Noting that such concessions directly affect the quality of education and encourage students to work with greater determination, B. Azimov stated that the Fund is ready to continue supporting students who are receiving full-time education on a paid basis, and that applications continue until the end of the semester.
Speaking at the event, former Chairman of the Fund, currently Chairman of the Republican Committee of the Azerbaijan Free Trade Union of Education Workers, Araz Pashayev, emphasized the Fund's contributions to the development of education and the opportunities for financial support created for students, noted that this initiative plays an important role in the education system of Azerbaijan, and congratulated the Fund on its successful report. Noting that the goal of the Fund is to provide financial accessibility to students from socially vulnerable groups, Araz Pashayev called the results achieved in this direction commendable.
Delivering a congratulatory speech, Head of the Public Relations and Communication Department of the Ministry of Science and Education of the Republic of Azerbaijan, Sabuhi Rzayev, highly appreciated the activities of the Fund at a media briefing dedicated to the 3rd anniversary of the Education Student Loan Fund. During his speech, he emphasized the importance of the Foundation in providing financial support to students.
