During a press conference, the Ministry of Development announced the launch of a pilot program for a new repayable aid tool focused on education. Over PLN 50 million has been allocated for this initiative, which will be managed by two operators. The pilot program is financed under the Knowledge Education Development Operational Program, the “Education Loans” Fund, implemented by the Regional Development Agency Foundation in Starachowice in partnership with the Cooperation Fund Foundation, and the “National Scientific Education Program” Fund, implemented by the Entrepreneurship Development Foundation in Suwałki. “Education Loans” Fund
The “Education Loans” Fund allocates PLN 20 million for educational loans between 2017 and 2020. The maximum individual loan amount is PLN 100,000, of which 25% can be forgiven.
Who is eligible for the loans?
The “Education Loans” Fund is intended for adults residing in Poland, with full legal capacity, applying for a loan exclusively for postgraduate studies, courses, training, and other forms of adult education offered by domestic and foreign entities (excluding first, second, and third cycle studies), lasting no longer than 24 months. The essence of the fund is that there are no additional criteria for borrowers, nor are there any requirements regarding the form or topic of the training or course.
What does it look like in practice?
“Education loans” are intended to provide an impetus for individuals planning personal development but are hesitant to make a decision due to the costs involved. Individuals who meet basic requirements can apply for one or more loans, the total amount of which cannot exceed PLN 100,000 over the three-year duration of the program. The loans are interest-free and free of any additional costs (commissions, fees, etc.). They are granted for a specific purpose and can cover up to 100% of the cost of the training/course/study. The refund mechanism assumes repayment in equal monthly installments, with the minimum number of installments (repayment period) being 12 months and the maximum being 36 months.
If the borrower meets basic requirements – such as completing the training – it is possible to have up to 25% of the loan amount forgiven, which will be implemented by waiving the repayment of the final installments, thus shortening the loan term.
Project Recruitment
The recruitment process is planned to begin in late August/early September 2017. The entire application process, granting, and subsequent repayment of the loan will be conducted with minimal involvement and simplified formalities for potential project participants. A key element of the process will be the online system and remote electronic document submission, which will allow for nationwide coverage and minimize exclusion based on residence.
All information about the program, recruitment launch, stages, and rules will be available at www.inwestujwrozwoj.pl
“This program has the potential to change the rules of the game in the area of continuing education. Transferring trust and responsibility to the training or course participant will result in, on the one hand, better alignment with expectations, but will also have a motivating impact on the quality of institutions offering equal forms of education. We will make every effort to ensure that this fund stands out for its simplicity and minimal bureaucracy, and above all, maximum accessibility for all stakeholders,” said Jacek Ostrowski of the Cooperation Fund Foundation.
