Loans

Need a loan to finance your studies or want to buy a home?

Find the information you need below.

Information prepared by AB „Swedbank“.

Student loans for financing studies

Young people (students) must first apply to the Study Fund for funding. Once the Foundation approves the loan application, the next step is to go to the bank to sign the financing agreement itself. For student loans with a state guarantee, the latest information is available on the website of the State Fund for Studies: state-supported loans – State Fund for Studies (lrv.lt).

Students can borrow from banks on preferential terms with a state guarantee.

General conditions for state-supported loans:

Each academic year a student can apply for a new loan;
During the course of the studies, the student can pay the interest from the state funds available to the Fund. In the event of suspension of studies or during academic holidays, the borrower is responsible for the payment of interest;
Even after signing the loan agreement, the student may withdraw from the unpaid part of the loan at any time;
The loan repayment starts one year after the completion or termination of studies;
Repayment period: 15 years;
Loans are granted at variable interest rates: EURIBOR (Euro Interbank Offered Rate as calculated by the European Banking Federation) + bank margin as determined by the credit agreement;
Loans are repaid on a straight-line basis. Under this method, the interest on the loan is calculated on the amount disbursed and outstanding. For example: (1) if a student takes out a loan for living expenses, which is disbursed in monthly instalments, the amount of interest keeps increasing; (2) after each instalment, the amount of interest keeps decreasing as the student repays part of the loan;
There are no additional fees or penalties for early repayment;
Deferment of repayment is allowed once the repayment period has started. The borrower must first consult the bank. If no agreement can be reached with the bank to defer the repayment of the loan, the borrower whose monthly income per family member in the last 6 months was no more than 50 per cent higher than the State Supported Income (no more than € 187.50 as the State Supported Income from 2020 is € 125) can apply to the Fund.

Types of state-supported loans

Students can receive:

A loan to pay the tuition fees. The amount of the loan may not exceed the student’s tuition fee or part of the tuition fee paid for the current year of study in any one year. The loan is disbursed to the higher education institution’s account. If the loan is taken out for both semesters at once at the beginning of the academic year, the loan instalment for the spring semester is disbursed between 1 February and 1 July, when the student submits a request to the bank to transfer the remaining instalment. In the absence of a request, the second part of the loan is not disbursed;
Loan for living expenses. This loan (up to €1,950 per year) is disbursed in equal instalments each month until 1 July (or until the end of studies for final year students) into the borrower’s personal account;
Loan for partial studies under international (inter-agency) agreements. This loan (up to €2 340 per year) is paid into the borrower’s personal account in one lump sum. Students going on exchange programmes before the application process has started should make sure that they have all the necessary data abroad and that they have a secure login to the Fund’s information system (e-banking, e-signature, ID card certificates). The application form can only be submitted by the student. It is also necessary to authorise another person to manage the documents for the receipt of state-assisted loans (the authorisation must be certified by a notary). This authorisation will be necessary for the conclusion of the state-assisted loan agreement with the credit institution (authorisation form).

The Foundation publishes the start date for the autumn semester of the granting of State-assisted loans and the start and end dates for the submission of student applications on the Foundation’s website.

The start of the provision of state-supported loans in the spring semester shall be published no later than 25 working days after the entry into force of the Resolution of the Government of the Republic of Lithuania on the allocation of state budget appropriations by programmes for the respective year.

State-supported loans shall be granted:

first cycle students (bachelor studies);
for students in full-time studies;
postgraduate students (master’s studies);
third-level students (doctoral studies);
non-degree students (residency, teacher training).

No state-supported loans are available:

students whose total amount of State loans and State-assisted loans already received and State-assisted loan applied for, excluding interest, exceeds 385 BSI (€15015). This limit may be increased in exceptional cases (e.g. high tuition fees). Written requests from students to increase the limit are considered by the Loan Committee. Requests for an increase of the limit are only made for one academic year during the period of filling in the loan application forms. The application must be accompanied by a document issued by the higher education institution stating the student’s total annual tuition fee and the average results of the previous semester;
students who have suspended their studies or are on academic leave;
students who are in default or inadequate in fulfilling their obligations under previous state or state-aided contracts;
foreigners who do not have a permanent residence permit in Lithuania.

Loans are granted to foreign Lithuanians, citizens of European Union and European Economic Area countries, and permanent residents of Lithuania.

In order to obtain a state-supported loan, a student must fill in and submit an application form on the Fund’s website.

The application form can be filled in by logging in through the information system IS PASKOLA of the State Study Fund, as well as through the Elektroninių valdžios vartų tinklalapį.

Preferential housing loan

To qualify for a subsidised housing loan, families or individuals must first apply to the municipality where they have declared their place of residence, submit a certificate stating that they qualify for the subsidy and submit a housing loan application. Once the application has been submitted, the eligibility for the loan is assessed. For more information on this, please see:

Financial incentive for young families purchasing their first home – Ministry of Social Security and Labour of the Republic of Lithuania (lrv.lt)
Support for the purchase or rental of housing – Ministry of Social Security and Labour of the Republic of Lithuania (lrv.lt)

Bank memos

We also enclose bank memos: