Hungary 2015/16 - grants and loans

Student grants

The regular need-based grant is paid for a period of 10 months/year.

The minimum of the grant specified by the law for the disadvantaged, for students with one living parent and those under legal guardianship until the age of 18 is HUF 119 000/academic year. The minimum of the grant specified by the law for the disabled, multiple disadvantaged, orphans, students supporting dependents or those from a large family is HUF 238 000/academic year.

In addition to the regular need-based grant (shown in the diagram above), there is a scholarship scheme jointly financed by municipalities and higher education institutions (Bursa Hungarica scholarship). One-off initial and emergency grants are also available.

Only state-funded students can receive a merit-based grant. In order to receive a merit-based grant, students have to obtain a certain number of credits or a minimum mark stipulated by the HEI. The grants are paid for a period of 10 months/year. A maximum of 50 % of students at state-funded places are awarded a merit-based grant, and the minimum amount of the grant is HUF 59 500/academic year. There is also a 'Scholarship of the Hungarian Republic', which is granted only to the best performing full time students (maximum 0.8 % of statefunded students). It is granted for 10 months, and the amount of the scholarship is 34 000 HUF/month (in total 340 000HUF/year).

Loans

A government-subsidised loan (Student Loan 1) is available for both state-funded and fee-paying students (max. HUF 50 000/month for a period of 10 months/year). Orphans and those with unemployed parents can receive HUF 10 000/month more. The maximum duration is 5 years (7 for longer diploma courses such as medicine). Students below 40 years of age are eligible. It is a general-purpose loan.

A second type of student loan (Student Loan 2) has been available for fee-paying students since the academic year 2012/13. It is a government subsidised loan with interest rates lower than for Student Loan 1 (above). It can only be spent on tuition fees and can cover the whole of the tuition fee. Fee paying students can take out both types of loans to cover both study costs and living costs.