Hungarian Government Offers Loan Redemption for Foreign-based Graduates
The Hungarian government has announced a new initiative to help support young Hungarians living abroad by offering to refinance their student loans. The National Economy Ministry revealed the plan on Friday, stating that the goal is to encourage the return of talented individuals to Hungary.
Under the proposal, Hungarian students studying abroad who return to Hungary for work will have the option to refinance their foreign student loans, up to a limit of HUF 10 million, through Diákhitel, a state-owned student loan provider. Diákhitel offers interest-free credit for tuition and a low interest rate of 7.99% for free-purpose loans.
Those who take advantage of this opportunity will also receive benefits such as loan discharge, suspension of repayment for families with children, and tax-free repayment support from employers, similar to other Diákhitel borrowers.
The draft regulations for this program will be made available to the public for review. This initiative is part of the government’s efforts to attract skilled individuals back to Hungary and support their professional development. It is hoped that by easing the financial burden of student loans, more young Hungarians will be encouraged to return home and contribute to the country’s growth and development.
