Most university and college students are eligible for a student loan. Full time, part time and correspondence students attending state-funded or fee-paying courses can all take out a loan.
Students are eligible for the student loan if they
· are below 40 years old*,
· are Hungarian nationals,
· are recognised refugees,
· have a permanent residence permit or immigration permit,
· have the right to stay and move freely in Hungary on the grounds established in the Decree**.
Students can take out the loan if they:
· have a valid student status in a higher education institute,
· have reported their place of residence to the central personal information and address database,
· have enrolled for a university or college course,
· do not have a valid Student Loan contract.
People whose previous Loan Contract has been terminated and who failed to pay off their related debt are not eligible for a Student Loan. A person can have only one Student Loan contract at a time.
* The last semester when the Student Loan can be disbursed is the one in which the borrower becomes 40 years old.
** Grounds defined in the Decree:
· According to Act I. of 2007 on the immigration and residence of people with a right to stay and move freely in the country (the Immigration Act), EEA citizens who stay in Hungary for longer than three months in order to pursue income-generating activities, and any family member thereof entitled to stay in the country for longer than three months,
· Any family member of a working Hungarian citizen who is entitled to stay in Hungary for longer than three months,
· Any person who is entitled for permanent residence in the country based the Immigration Act.
