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Factsheet for measure HU-2020-18/717 – Updated – measures in Hungary
|Country||Hungary , applies nationwide|
|Time period||Temporary, 01 May 2020 – 30 September 2022|
|Type||Legislations or other statutory regulations|
Measures to prevent social hardship
– Protection of vulnerable groups (beyond employment support)
|Author||Nóra Krokovay (KOPINT-Tárki) and Eurofound|
|Measure added||17 April 2020 (updated 15 June 2022)|
Under government decree 96/2020, students of higher education and adult education may take out an interest-free loan to offset their living expenses during the COVID-19 pandemic. The measure was introduced as part of efforts to help families with little or no savings, as well as seeing students as a group vulnerable to losing their part-time jobs or not finding a job during the pandemic situation. The loan can be requested via the student loans provider Diákhitel Központ until 31 December 2020.
The amount of the interest-free loan for students in higher education is a one-off lump sum of HUF 500,000 (€1,429). Students in adult education courses organised by the Ministry of Innovation are also eligible, they can apply for an interest-free loan of HUF 1.2 million (€3,429). Students will have 12 months before they must start repayment of the loan, which can be over a period of 1 to 5 years, at their discretion. As part of this set of measures targeting students, the rules about losing students’ state scholarships on the basis of academic achievement will be suspended for the duration of the pandemic situation. Higher education students will not be required to pass language examinations during this period, either, and the existing targeted language exam loans will be converted to the new 0% interest loan. There are also suspensions introduced on the repayment of other existing student loans.
More than 30,000 students applied for the interest-free loan which was available to take out for any purpose, the head of the loans centre said in December 2020. Typically students applied for the maximum amount of HUF 500,000 and half of them spent it on housing expenses, according to a survey by the centre. According to a press report in April 2021, a total of HUF 31 billion (€86.1 million) in student loans were issued in 42,000 new student applicants in 2020, three times more than in the previous year. More than two-thirds of the loans were the pandemic free-use loans that were available from 1 May 2020.
|Does not apply to workers||Does not apply to businesses||
Other groups of citizens
Social partners' role in designing the measure and form of involvement:
|Trade unions||Employers' organisations|
|Role||No involvement||No involvement|
|Form||Not applicable||Not applicable|
Social partners' role in the implementation, monitoring and assessment phase:
There was no involvement of social partners in this measure.
|Economic area||Sector (NACE level 2)|
|P - Education||P85 Education|
This case is not occupation-specific.
Eurofound (2020), Interest-free student loans, measure HU-2020-18/717 (measures in Hungary), EU PolicyWatch, Dublin, https://static.eurofound.europa.eu/covid19db/cases/HU-2020-18_717.html
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Disclaimer: This information has not been subject to the full Eurofound evaluation, editorial and publication process.