Albania student loan scheme sees low participation

The Albanian government's student loan scheme, introduced in 2023 to cover tuition and living costs, has seen minimal participation. According to the National Agency for Higher Education Financing (AKFAL), only 23 students have benefited from the program over the last three academic years, with interest in applications declining annually.

For the new academic year, AKFAL has opened applications from October 5 to November 4 via the e-Albania portal. Union Bank has been selected for the process, offering a fixed annual interest rate of 5.5%. The Agency subsidizes up to 5 percent of the rate, leaving a 0.5 percent burden for the student.

AKFAL Director Laert Mezani noted that student loans are a relatively new instrument in Albania and not a traditional financing mechanism for university studies. He expressed hope that simplified application procedures—requiring only registration, grade, and non-scholarship status certificates—will increase student interest.