Loan options
What is the difference between a Study Loan and a Student Loan?
- A Study Loan is intended to cover tuition fees at accredited universities in Latvia.
- A Student Loan is intended to cover a student’s daily living expenses.
The study loan is available to both full-time and part-time students.
- The loan is available to citizens and non-citizens of Latvia, as well as EU/EEA citizens and permanent inhabitants of the European Community holding a valid residence permit for studying in study programmes of accredited and licensed higher education institutions of Latvia – for bachelor, master, doctoral degree and first-level professional higher education programme students.
- A personal guarantor is not required.
- Existing studies and student loans do not limit the possibility of receiving a loan for continuing studies.
- At the same time, the loan can be granted for the acquisition of one study program only.
- The loan amount is transferred to the educational institution’s account twice a year.
What is the application process for state-guaranteed study loans at RISEBA University (issued by Swedbank)?
- Sign a study agreement with RISEBA University.
- Fill out the electronic application form for a state-guaranteed study loan on Swedbank’s website:
https://www.swedbank.lv/private/credit/loans/study?language=ENG - Swedbank reviews the loan application (usually within 5 working days after the university has entered the data into the VIIS system) and decides whether to approve or reject it, informing the student of the decision.
- If the application is approved, the student must sign a loan agreement with Swedbank. This can be done using eParaksts in the online bank or in person at a Swedbank branch.
- If the application is rejected, the student must pay the tuition fee from their own funds.
- After signing the loan agreement, Swedbank transfers the funds to RISEBA University’s account.
- During the study period, students do not have to pay interest on the state-guaranteed study loan.
- Repayment of the loan principal and interest starts 12 months after graduation (upon receiving the diploma).
- In case of exmatriculation (removal from the university), interest repayment begins the following month, and principal repayment starts from the third month after exmatriculation.
- The student loan is available to both full-time and part-time students.
- The student loan is intended to cover a student’s daily living expenses, provided the student is enrolled in an accredited and licensed study program at a higher education institution in Latvia and has signed an agreement with the institution.
- A private guarantor is not required.
- According to Cabinet Regulation No. 231, the amount of the student loan per month may not exceed the national minimum monthly wage at the time of signing the loan agreement, multiplied by a coefficient of 0.8 (rounded to the nearest whole number).
- The student loan is transferred to the student’s bank account for 10 months per year (excluding July and August).
- The student can apply for the loan on the Swedbank website or at a Swedbank branch.
- During the study period, the student must pay interest on the state-guaranteed student loan.
- Repayment of the principal starts in the 12th month after completing the study program (after obtaining the diploma), while interest payments continue.
- In case of exmatriculation (removal from the university), principal repayment begins in the third month after exmatriculation.
Commercial Loan – a loan granted to a student from a credit institution’s funds, without a state guarantee (issued by SEB Bank), intended to cover tuition fees. The commercial loan is available to both full-time and part-time students, as well as for studies in both accredited and licensed programs. The commercial loan is disbursed twice a year to the RISEBA university account.
For more information:
If you have any questions, please contact the RISEBA Customer Service Centre:
Address: Meža iela 3, Riga, LV-1048
E-mail: [email protected]
Phone: +371 26465351, +371 67500265
