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Given our decade-long experience and long collaboration with the local banks, Study Medicine Europe helps students through the application process with financial institutions who offer student loans and cooperate with your chosen University.

Specifically, Study Medicine Europe can negotiate the type and duration of the student loan, the maximum amount of the loan, and in some cases even the interest rate of the loan repayment as well as the grace period before repayment and the duration of the repayment period. We also gather and submit all the necessary documents on behalf of our students in person. In short, we will do what is required as long as loans are available from local financial institutions.

All Undergraduate (Bachelor's), Graduate (Master's) and Postgraduate (PhD) students are eligible to apply for a student loan, whether they are Bulgarian nationals, nationals of another EU member state, or nationals of another country outside the EU commonwealth zone, including the Swiss Confederation, as long as they meet the following general criteria:

  • They must be applying to study full-time
  • They must not have acquired the same educational qualification or degree before
  • They must not have been removed or suspended from their studies

If the student has received a loan, the loan money shall be allotted and utilized through money transfers to the bank account of the higher institution or the scientific organizations at the beginning of each semester according to the loan agreement details. For the remaining semesters or years of studies, the financial institution deposits the tuition fees directly into the university bank account, without there being any need for the student to be involved.

Loans are only made available through local financial institutions that have signed an agreement with your chosen Academic Institution. The decision to make loans available lies solely with the local banks, therefore, Study Medicine Europe does not carry any liability regarding facilitating any student loans.

Students need not repay the loan while they are still studying, and enjoy a grace period that may range from twelve to twenty four months after their study period finishes, before they are required to begin repayments one month after this grace period has finished, depending on arrangements with the financial institution. Moreover, students who have taken out a loan are not obliged to pay the fees, commissions or other expenses, related to the granting and management of the loan.

The repayment of the loan usually includes an annual, fixed interest rate, which runs at approximately 10%. Interest is accrued from the first month. Students need not repay the loan while they are still studying, and enjoy a grace period, which is usually between twelve to twenty four months after their study period finishes, before they are required to begin repayments one month after the grace period has finished, depending on arrangements with the financial institution. Moreover, students who have taken out a loan are not obliged to pay the fees, commissions or other expenses, related to the granting and management of the loan.

The grace period is the period from the conclusion of the loan agreement until the expiration of one year from the first date of the last state exam or thesis defense, according to the repayment plan, agreed upon by all the parties of the Loan Agreement. The total amount of the loan usually is repaid in equal monthly installments on average during a 5 to 7-year period, beginning from the end of the grace period. Loan repayments are normally deferred upon enrollment in full-time training for the next educational qualification or educational scientific degree, and during each successive academic year.

For more information on getting a student loan to study in Bulgaria, please contact one of our representatives.

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