Hansapank reneges on student loans

Aug 13, 1998
Kairi Kurm

TALLINN - Just weeks before the beginning of a new school term, Hansapank announced it cannot fully fund student loans to 25,000 clients according to the terms of a government agreement.Hansapank, like other Estonian banks, signed an agreement with the government last year that requires it to provide student clients with 400 billion kroons ($28 million) worth of student loans at an interest rate of 10.5 per cent, 5.5 percent of which is paid by the government. The government acts as guarantor, a ...

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