New loan program makes education more accessible in ArmeniaAugust 24, 2017 - 16:33 AMT PanARMENIAN.Net - Byblos Bank Armenia CJSC and American University of Armenia have teamed up for a new student loan project which makes higher education more accessible and affordable. AUA graduate students who need financial support can get student loans to cover their tuition fee. The project provides up to 80% funding of the education fee with an annual interest rate of 5% interest rate and a grace period. During the period of studies at AUA and the following six months only the interest will be paid off. The principal and the interest will be paid during the next thirty months. Hayk Stepanyan, Chief Executive Officer of Byblos Bank Armenia noted: “Education has always been in the focus of attention of Byblos Bank. This loan project with American University of Armenia will help more students have access to quality higher education programs, reveal their potential and succeed in the job market. Moreover, starting from 2017 academic year the Bank has granted scholarships to AUA students. We hope that our cooperation with AUA will contribute to the development and well-being of our society.” The loan with preferential terms will be provided in Armenian dram to students with good credit history and two guarantors. Armen Der Kiureghian, President of the American University of Armenia noted, “The amount of money spent for quality education can become the most profitable investment ever made. Due to the education at AUA there is growing demand for our graduates in the labor market. There is also growing trust in their ability to fulfill their loan commitments. With this partnership our university makes a step forward towards making education accessible for students who most need financial support. We are confident that many students will benefit from this unique opportunity.” Students can apply for the project by 4 September of the current year, by writing an e-mail to to the American University of Armenia at financialaid@aua.am. Top stories The number of state universities will be reduced from 23 to 8 by 2030, Minister of Education, Science, Culture and Sport Zhanna Andreasyan has said. From September 21 to November 11, a total of 2,820 Russians registered at a place of residence in Armenia, the police has said. The situation on the contact line between Karabakh and Azerbaijan was relatively stable overnight, the Defense Army says. Defense Minister Suren Papikyan has visited the southern Armenian province of Syunik, the Defense Ministry reported on March 18. Partner news | Ucom launches network modernization efforts in few regions of Armenia In particular, on March 28, the legacy Mobile Switching Subsystem will be replaced with a new one. Baku: EU, U.S. share responsibility for Armenia’s “destabilizing actions” Azerbaijan has declared that the European Union and the United States will share responsibility for any destabilizing actions of Armenia Armenia to sing in 2nd semi-final of Eurovision The organizers of Eurovision 2024 have revealed the running order of the countries in the two semi-finals. Azerbaijan accuses Armenia of arming Karabakh after 2020 Azerbaijan has accused Armenia of “illegally transported ammunition” to Nagorno-Karabakh after the November 9 statement. |