In order to ensure access to education for the poor, create equal opportunities for education and expand the scope of education, President Ilham Aliyev signed a decree "On a number of measures to establish and operate the Education Student Loan Fund under the Ministry of Education of the Republic of Azerbaijan."

On June 18, Minister of Education Emin Amrullayev held a briefing on the establishment of the Education Student Loan Fund under the Ministry of Education by the relevant decree of the President.

It was stated at the briefing that the main purpose of establishing the Foundation is to ensure access to higher education for all, to create equal opportunities in education. He noted that the Education Student Loan Fund will lead to significant changes in the field of higher education, which will expand the opportunities for socially vulnerable groups to receive higher education. According to the Minister, the issues arising from the decree will be regulated by certain rules. Loans are intended for students from socially vulnerable groups. For those who do not belong to this group, the rules will be announced. Appropriate discounts will be considered for successful students who receive a loan. The loan amount will not exceed the tuition fee. Minister of Education Emin Amrullayev added that it will be possible to issue educational loans from the next academic year. Student loans will be issued for each academic year. The Fund's authorized capital is estimated at 80 million manat, but the Fund's funding may be increased in the future. Education The Student Loan Fund can be used by students studying in both public and private educational institutions.

The briefing highlighted the key points about the Education Student Loan Fund.

- The authorized capital of the Education Student Loan Fund is 80 million manat. Additional funds may be attracted to the authorized capital within the framework of the legislation.

- Students will be able to get a student loan from the next academic year.

- Entry points will be taken into account at the initial stage when issuing loans. High results will be the first condition.

- This loan is not for commercial purposes. If the loan is not repaid for any reason, the student will be given the right to deferment.

- The loan amount will be given not directly to the student, but to the institution of higher education.

- The loan will apply to students studying at their own expense.

- Loans provided by the Education Student Loan Fund will be repaid not once, but for each academic year.

- Loans provided by the Education Student Loan Fund will be divided into 2 groups. The first group includes socially sensitive students. The second group will be a standard loan.

- The interest rate on education loans will be very low.

- The student will be able to repay the student loan for a period of 20 years. That is, the student will be able to repay the loan in installments to the Fund within 20 years after graduation.

- For one reason or another, if a student is unable to repay a loan to the Fund during his or her military service, he or she will be given the right to deferment.

- Discounts will be given to students who study well. Both interest rates and refunds can be discounted.

- The upper limit of the loan amount will not exceed the annual education.

- Education student loans will not apply to foreign students.

- The loan provided by the Education Student Loan Fund will apply only to higher education obtained within the country.

- Loans will also be given to students with higher vocational education.

- Students studying in private universities will also be able to receive student loans.