Study loan – a loan to students from the resources of a credit institution with a guarantee provided on behalf of the State in order to cover the fees for studies in an accredited and licensed study programme.

Both full-time and part-time students can receive a study loan.

• Both EU/EEA citizens and non-nationals and long-term residents of the European Community who hold a valid residence permit for study in Latvian accredited and licensed university study programmes may apply for credit.
• Tuition fees shall be granted in full.
• No individual guarantee is required.
• Existing study and study loans shall not restrict the receipt of credit for the continuation of studies.
• At the same time, it may be granted for the acquisition of one study programme.
• The amount of credit is transferred to the school account twice a year.

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What is the application process for State-guaranteed study loans at RISEBA University (“Swedbank Latvija” JSC)?

• You need to sign an agreement with RISEBA University.
• You need to fill in an application form at RISEBA University so that RISEBA can matriculate you and enter your data in the VIIS system (data is entered within 3 working days from receipt of the application form) without receiving the first payment for studies.
• You need to fill in the electronic application form on Swedbank’s website for a state-guaranteed study loan: https://www.swedbank.lv/private/credit/loans/study
• The bank reviews the application (usually within 5 working days of the university entering the data in the VIIS system) and decides to approve or reject it, informing the student of the decision.
• If the credit application is approved, you will need to sign an agreement with Swedbank. This can be done with an eSignature in the Internet bank (Latvian citizens) or in person at a Swedbank branch (everyone).
• If the application is rejected, the student shall immediately contact the RISEBA Customer Service Centre.
• After signing the study loan agreement, Swedbank will transfer the amount to the institution.

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Student loan – a loan to students from the resources of a credit institution with a guarantee provided on behalf of the State in order to ensure the social needs of students.

• Student loan – a loan to students from the resources of a credit institution with a guarantee provided on behalf of the State in order to ensure the social needs of students. Both full-time and part-time students can receive a student loan.
• Private individual guarantee not required
• According to the provisions of Cabinet No. 231, the amount of the student loan per student per month does not exceed the amount of the minimum monthly wage specified in the State at the time of entering into the credit agreement multiplied by a coefficient of 0.8 (rounded amount to the nearest integer).
• The student loan is credited to the borrower’s current account for 10 months per year (except for July and August).
• You can apply for a student loan through Swedbank’s website or at Swedbank’s branch.

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Loans in EUR

Payment of study loan interest

Student: a student does not have to pay interest on a state-guaranteed study loan while studying

State: pays interest on study loan instead of student during State studies

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Loans in EUR

Payment of student loan interest

Student: a student has to pay interest on using a study loan while studying

State: does not pay interest instead of student during State studies

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Interest rate:

The interest rate on loans is variable. The rate shall consist of a fixed part not exceeding 3,5% per annum and a variable part EURIBOR or an equivalent financial money market index. If the variable part of the interest rate is negative, the amount of the interest rate shall be equal to the fixed part of the interest rate.
If, at the time of repayment of the credits, that rate is higher than five per cent per annum during the relevant period, the borrower shall pay a five per cent rate per annum. The difference between rates shall be covered by the resources of the State budget.

For borrowers who are extricated (excluded) without a diploma, the difference between rates if it is above five per cent shall not be covered (except for extricated borrowers after acquisition of the doctoral programme).

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Loan repayments:

Repayment of the principal amount and interest of the study loan shall commence 12 months after completion of the study programme (diploma obtained).
In the case of student exmatriculation (exclusion), the interest should start to be repaid from the month following exmatriculation (exclusion), while the principal should be repaid from the third month following exmatriculation (exclusion).

Repayment of the principal amount of the student loan shall commence 12 months after completion of the study programme (diploma obtained) and the repayment of interest shall continue.
In the case of exmatriculation (exclusion) of a student, repayment of the principal shall be made from the third month following exmatriculation (exclusion).