Who can take out a Student Loan?
You may be eligible for the Student Loan if you participate in a degree programme of an EEA higher education institution offering a university or college degree recognised in Hungary.
How will you receive your loan?
If you meet the eligibility criteria, you will receive your loan in a lump sum every semester. You can submit your Student Loan application until 31 October for the autumn semester and 31 March for the spring semester. In order to have your loan transferred, you are required to submit a number of documents to us.
The following students can take out the Student Loan abroad:
- Hungarian citizens
- recognised refugees, or
- those having a permanent residence permit or immigration permit.
They can get the Student Loan if they participate in a degree programme of an EEA higher education institution offering a college degree recognised in Hungary.
If you have a student status in a Hungarian higher education institution and you currently study abroad, the general rules for applying for a Student Loan apply to you.
Persons with the right to free movement and residence in Hungary are not eligible for a Student Loan for studies in a EEA institution of higher education.
For the first time, you need to submit the following documents in addition to the Loan Contract and the Loan Application Form:
- Certificates issued by the higher education institution within the EEA confirming your student status and other documents relevant to the training information required for the disbursement of the loan (and their certified Hungarian translations*)
- the Study Data Sheet completed in Student Loan Direct
The Borrower is responsible for obtaining the required certificates to confirm their student status. Providing evidence of student status is required for each semester even if disbursement of the loan is suspended. Failure to provide the required certificate automatically starts the repayment obligation period.
The following need to be submitted for each semester thereafter
- certificate of student status (and its certified Hungarian translation*)
- the Study Data Sheet completed in Student Loan Direct
Submission deadline for the documents is October 31 for the autumn semester and March 31 for the spring semester.
The submitted certificates and the Study Data Sheet are forwarded to the Hungarian Equivalence and Information Centre (HEIC) to confirm that the specific course offers an academic decree recognised in Hungary. The loan agreement becomes effective on the day we receive the positive certificate issued by the HEIC.
*Only Országos Fordító és Fordításhitelesítő Iroda Rt. (Budapest, VI. ker., Bajza u. 52.) is authorised to issue Certified Hungarian language translations. However, the Student Loan Centre also accepts non-certified translations for languages published on the website of the authority competent in the issue in accordance with section 3 (3) of Government Decree no. 33/2008 (II.21.) on the authorities acting in matters coming under Act C of 2001 on the Recognition of Foreign Certificates and Degrees and services requiring declarations.
How can I get my loan?
The loan amount is transferred to your bank account at a credit institution registered in Hungary as long as you meet the eligibility criteria and have submitted the appropriate documents to us.
Loan applications are accepted until October 31 for the autumn semester and March 31 for the spring semester.
The Student Loan is only available as a lump sum for a semester; there is no monthly disbursement option.
When do I get my Student Loan?
The disbursement date depends on when you submitted your loan application. Transferring the loan amount on the next disbursement date occurs if the loan agreement has been in effect for at least 5 working days by then.
