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Students receive their study loans in parts

Aug 27, 1998
By Kairi Kurm

TALLINN - The Estonian Finance Ministry and three of Estonia's banks have finally found a solution for funding student loans. The clients of Uhispank, ERA Pank and Hansapank have agreed to lend money at a 14.5 percent interest rate without extra deposits to the bank so that they would not have to lend the money out at once. According to the agreement, students receive their loans in two parts, 6,500 kroons ($464.2) on Sept. 15 and the same amount at the beginning of next semester on Feb. 1.Stud ...

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