Long-Term Student Loan
Finance your studies with a program grounded in international experience and enjoy a 5-year grace period.
- Secured loan term: up to 120 months
- Unsecured loan term: up to 72 months
- Currency: GEL
If you are a student of a higher or vocational educational institution operating in Georgia and you want to take a loan to finance your studies, Terabank and the Millennium Fund offer you an unprecedented program.
The long-term student loan model is developed based on international experience and fully adapts to your needs. Students and entrants enrolled in higher and professional education programs with authorized international educational accreditation operating in Georgia (only citizens of Georgia) will benefit from the loan. Science and Engineering (STEM) majors are given priority.
Students participating in the program can benefit from a grace period and begin repaying the loan one year after graduation.
Loan Conditions
Documentation required to use the product:
- Identity document;
- A copy of the agreement signed with the relevant institution regarding enrollment;
- A certificate from the educational institution confirming student status; if suspended, a notice explaining the reason for suspension;
- For bachelor's and master's degrees, a notice of exam scores;
- For first-semester students, information on exam scores as required by the institution's regulations;
- A certificate from the educational institution detailing the educational program and study results, including the weighted average score (GPA);
- For professional educational programs, a notice or recommendation;
- For first-semester students, a notice of enrollment in the educational program;
- A notice or recommendation describing academic performance and completed modules;
- Information about any state educational or master's grants and/or other types of grants (if applicable);
- An invoice from the educational institution specifying the tuition fee.
How to Request a Loan?
Visit our branches
- See locations: here
Contact us:
- Phone: 032 255 00 00
- Email: info@terabank.ge
Funding under the program is provided annually. The student will receive a one-time payment covering up to 100% of one year's tuition fees.
To be eligible for the long-term student loan program, the educational program must comply with the rules established by current Georgian legislation and meet at least one of the following criteria:
- It is developed and implemented based on an international agreement ratified by the Parliament of Georgia;
- It has obtained international accreditation or is in the process of acquiring it;
- It is a joint accredited educational program with a foreign institution;
- It is a joint educational program as defined by the Law on Higher Education;
- It operates in EU member states and is recognized by a member organization of the European Network for Quality Assurance (ENQA).
The effective interest rate is calculated by taking into account all the necessary financial expenses and the period of expenditure.
18 years.
The grace period of a long-term student loan lasts a maximum of 60 months
If the loan repayment is overdue, a penalty is charged: GEL 20 - on the first day. Followed by 0.50% of the unpaid amount for each subsequent day overdue (no more than the requirements defined by law).
