Reform of Student Loan System: Recent Evidence from Slovakia

Maria Bartekova and Ludomir Slahor
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Maria Bartekova: Comenius University in Bratislava, Faculty of Management, Slovak Republic
Ludomir Slahor: Comenius University in Bratislava, Faculty of Management, Slovak Republic

from University of Primorska Press

Abstract: Education support fund, Slovak student loan institution, is a non-state special-purpose fund established in 2013. Education support fund provides loans to students in higher degrees in Slovakia and Slovak students studying abroad. The aim of this paper is to focus on three issues: how the Slovak model works; the comparison between Hungarian and Slovak model of student loan system; and finally, why the reform of the student loan system was so necessary. The empirical analysis was divided in two parts. Firstly, we used descriptive statistics to present the Slovak and Hungarian student loan market situation in terms of the student loan legislation. In the second part of our empirical analysis, we studied a reformed model of student loan system in Slovakia. The Hungarian government decided to extend the student loan scheme by introducing a new type of loan provided by Diakhitel, Hungarian student loan organization, to help higher education institutions maintain enrolment numbers and guarantee their own financial stability. The fluency and flexibility built into the relationship with Diakhitel was again brought to the fore with the introduction of a new student loan product, which the EIB supported with a loan in 2013. The similar student loan product will be supported by the EIB in Slovakia in 2018. By assigning the loan to the benefit of the higher education facility, the student in effect enhances the university’s financial efficiency. The mutual benefit for student and university alike underscores the EIB’s support for youth skills and educational improvements as a driver of European growth and jobs (Laporsek, Stubelj 2012, 142).

Keywords: student loan system; student loan debt; Slovak higher education; Slovakia; Hungary (search for similar items in EconPapers)
Date: 2017
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