National Assembly Adopts Loans for Students Act
23 July 2008
The new law, adopted on 23 July 2008, gives students in undergraduate, graduate and PhD programs the right to finance their education with bank loans. This right is given to all full time students up to age 35, pursuing bachelor, master or PhD degrees for the first time.
Credits will cover the whole or part of the time spent at school and could be used for tuition and living expenses. Credits will be lent by banks, contractors to the Ministry of Education and will only be given in Bulgarian currency. The Banks will have the right to terminate the credit agreement on their discretion, after filing a notice, addressed to the Minister of Education and Science until 30th of April. The termination of the contract takes effect on 30th June of the corresponding year. The Ministry of Education and Science will establish an electronic register of the landing banks.
MPs passed as well the amendments in the Road Traffic Act. It foresees the transformation of the “Republican Roads Infrastructure” Fund into a National Agency, named “Roads Infrastructure” under the Council of Minister’s administration. The Supervisory Board and the head of the new agency will be appointed by the Prime Minister.
At the same sitting deputies discussed a draft resolution allowing for the negotiating and signing of a Development Credit agreement between the Republic of Bulgaria and the International Bank for Reconstruction and Development and a bill ratifying the Agreement between the Republic of Bulgaria and the Republic of Greece for common border - crossing control.
Changes in the Accountancy Act were passed.
MPs debated next the Ratification Bill on the Agreement between the Government of the Republic of Bulgaria and the Government of the Russian Federation for cooperation in the construction of a transit natural gas pipeline through the territory of the Republic of Bulgaria.