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Reform of Student Loan System: Recent Evidence from Slovakia

Author

Listed:
  • Maria Bartekova

    (Comenius University in Bratislava, Faculty of Management, Slovak Republic)

  • Ludomir Slahor

    (Comenius University in Bratislava, Faculty of Management, Slovak Republic)

Abstract

Education support fund, Slovak student loan institution, is a non-state special-purpose fund established in 2013. Education support fund provides loans to students in higher degrees in Slovakia and Slovak students studying abroad. The aim of this paper is to focus on three issues: how the Slovak model works; the comparison between Hungarian and Slovak model of student loan system; and finally, why the reform of the student loan system was so necessary. The empirical analysis was divided in two parts. Firstly, we used descriptive statistics to present the Slovak and Hungarian student loan market situation in terms of the student loan legislation. In the second part of our empirical analysis, we studied a reformed model of student loan system in Slovakia. The Hungarian government decided to extend the student loan scheme by introducing a new type of loan provided by Diakhitel, Hungarian student loan organization, to help higher education institutions maintain enrolment numbers and guarantee their own financial stability. The fluency and flexibility built into the relationship with Diakhitel was again brought to the fore with the introduction of a new student loan product, which the EIB supported with a loan in 2013. The similar student loan product will be supported by the EIB in Slovakia in 2018. By assigning the loan to the benefit of the higher education facility, the student in effect enhances the university’s financial efficiency. The mutual benefit for student and university alike underscores the EIB’s support for youth skills and educational improvements as a driver of European growth and jobs (Laporsek, Stubelj 2012, 142).

Suggested Citation

  • Maria Bartekova & Ludomir Slahor, 2017. "Reform of Student Loan System: Recent Evidence from Slovakia," MIC 2017: Managing the Global Economy; Proceedings of the Joint International Conference, Monastier di Treviso, Italy, 24–27 May 2017,, University of Primorska Press.
    • Handle: RePEc:prp:micp17:223-231
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    References listed on IDEAS

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    1. Bernhard Eckwert & Itzhak Zilcha, 2017. "Student loans: When is risk sharing desirable?," International Journal of Economic Theory, The International Society for Economic Theory, vol. 13(2), pages 217-231, June.
    2. Gicheva, Dora, 2016. "Student loans or marriage? A look at the highly educated," Economics of Education Review, Elsevier, vol. 53(C), pages 207-216.
    3. Findeisen, Sebastian & Sachs, Dominik, 2016. "Education and optimal dynamic taxation: The role of income-contingent student loans," Journal of Public Economics, Elsevier, vol. 138(C), pages 1-21.
    4. Heitor, Manuel & Horta, Hugo & Leocádio, Miguel, 2016. "Enlarging the social basis of higher education: Lessons learned from extending a social support system with a risk-sharing loan scheme in Portugal," Technological Forecasting and Social Change, Elsevier, vol. 113(PB), pages 319-327.
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