Bulgarian Universities Granted BGN 21 M More in State Subsidy

Bulgarian colleges and universities will receive an additional state subsidy of BGN 21.5 M, according to Education Minister, Aneliya Klisarova.

The decree has been approved at the meeting of the Council of Ministers Wednesday.

The portion of the subsidy for each of a total of 33 schools will be bound with the quality of education it provides, according to Klisarova.

Sofia University will get BGN 3.2 M, the Medical University and the Technical University in Sofia – BGN 3 M each, the University for Architecture, Construction and Urban Planning – BGN 1.35 M, the Sports Academy and the University for National and World Economy – over BGN 0.5 M each.

The government has further approved and issued BGN 40 M in state guarantees for student loans, which are currently granted by 4 banks, while the interest rate will not exceed 7%, Klisarova said.