Bill “On educational credits” submitted to Milli Majlis

Organization of Specialists Educated Abroad Azerbaijan (AKTAM) and the Association for Civil Society Development in Azerbaijan (ACSDA) have drafted a bill “On educational credits” and submitted it to the Milli Majlis of the Azerbaijan Republic. The purposes of the drafted bill are the establishment of state assistance system for increasing equal opportunities and guaranties for educational credits, effective economic mechanisms of financing higher professional education and getting qualitative education The bill consists of 4 sections and 20 items. The sections have been devoted to common regulations, agreement on educational credits, financing the expenses on state support to the educational credits and state assistance to the transfer of education to a credit system. The purposes and a controlled object of the bill, as well as its basic conceptions have been indicated in the items of section 1 named “Common regulations”. Such items as the form of an agreement on educational credits, the sum of a credit, the ways of concluding an agreement on educational credits, the methods of presenting primary and related educational credits, recovery of educational credit sums, percentages over the agreement on an educational credit, the consequences of violation of terms of an agreement on educational credits by a debtor, the revocation of an agreement on an educational credit and the results of a debtor’s transfer to another higher educational establishment or his or her expulsion from a higher educational establishment have been reflected in the 2nd section named “Agreement on educational credits”. Such items as liabilities of plenipotentiary agencies, terms of rendering and refusal of rendering state assistance in accordance with agreements on educational credits, liabilities of an agent bank that has got state assistance in accordance with the agreement on educational credits, the methods of compensating percentages by a plenipotentiary agency in accordance with the agreement on educational credits, subsidiary responsibility of a plenipotentiary agency on the liabilities of the people who borrowed money in accordance with agreements on educational credits have been given in the 3rd section named “State support to educational credits”. Such items as financing of expenses on state assistance to the transfer of education to the credit system, the methods of financing of expenses in cases of lack of sufficient capital at the disposal of a competent agency, supervision over the expenditure of the allocations for state assistance to the educational credits have been indicated in the 4th section named “Financing of expenses on state assistance to the transfer of education to the credit system”.