OREANDA-NEWS. The loan programme for education at MBA programmes was launched by VTB24 and the Moscow School of Management SKOLKOVO in 2011. Upon the completion of pilot project the programme was prolonged for a year.

At the same time the minimal bank loan of the VTB24 educational loan was lowered to 250 000 roubles, the maximum remains the same at 3.6 mln roubles. The interest rate differs from 13 to 16 percent annually depending on the initial installment. The period of loan is from 3 to 5 years.

The programme is available for Russian citizens aged between 25 and 50 (for the moment when they will repay the credit) that have the seniority of at least 1 year. A client has to present a passport, a copy of service record and an income confirmation for the previous 6 months. There is no commission for the loan.

“VTB24’s loan offer to obtain an MBA degree at the Moscow School of Management SKOLKOVO was very relevant”, comments Ivan Lebedev, vice-president, head of consumer lending department at VTB24. “It is important that the minimal loan amount was lowered from 750 000 to 250 000 roubles, it will help to finance less expensive programmes. For example, the SKOLKOVO business school has the Startup Academy, programme for young entrepreneurs, and the Practicum for directors of the medium businesses.”

“It is not easy to find an appropriate loan offer while considering the parameters of educational and consumer credits on the market and the particularities of the school’s programmes”, says Elena Nesterenko, CFO of the Moscow School of Management SKOLKOVO. “Often it is linked with high interest rate and indispensable conditions such as guarantee or bail. The cooperation with VTB24 provides our students with an additional possibility to develop. The lowering of the minimal loan amount also makes this programme more attractive for our students - young entrepreneurs and directors of the medium businesses.”