For the first time ever, Albania has introduced the student loan policy to help students cover life expenses and study fees.

It was the Minister of Education, Evis Kushi who made the news public, during a press conference after a government meeting took place this Wednesday.

According to the minister, “the National Higher Education Funding Agency negotiates with second-tier banks so that student loans are granted without physical collateral”.

Moreover, the minister also stated that this “student loan will be enough to cover life expenses and study fees depending on the study program”.

“The financing of the loan is done in installments, at least twice a year, after confirmation by the Higher Education Institutions that the student has paid the year’s fee and has attended the learning process. Loan repayment starts no earlier than 3 years after signing the loan contract for first cycle studies, no earlier than 2 years after signing the loan contract for second and third cycle study programs and no earlier than 5 years after signing the loan contract for cases of loans received for the integrated study program of the second cycle,” Kushi added.

This will be applied to only one program of choice, bachelor or masters’ degree.

Kushi provided that there are certain criteria that follow up with the procedure of being granted with a student loan such as: credit value, following studies of priority programs, previous results during studies, etc.

Before revealing that this policy will be put in motion with the start of the 2023-2024 academic year, Kushi announced that the interest rate for the student loan will be consistent.

“Students who benefit from student loans should not be beneficiaries of previous policies, such as scholarships or exemption from fees in order to expand the number of beneficiaries as much as possible,” Kushi explained.

However, the education system is facing issues in Albania.

Medicine students are awaited to hold another protest this Thursday, in front of the Parliament premises.

They are protesting against a new draft law that forces them to stay in Albania for five years after finishing their degree, in order to obtain their diplomas.

According to the Albanian Government, this measure will avoid the brain drain of doctors from Albania, with Minister Kushi arguing that the agreement is not an obligation, but rather a choice of each student.

The Parliament is expected to vote in favor of the draft law in this Thursday’s session, prompting students to further boycott lectures and protest.

Through social media, students have called on all citizens to join their cause, as it concerns their future careers.