ORDER OF THE MINISTER OF EDUCATION OF THE REPUBLIC OF KAZAKHSTAN

of October 24, 2023 No. 320

About approval of Rules of guaranteeing the educational loans granted by the financial organizations and determinations of the amount of such guaranteeing

According to the subitem 61) of article 5 of the Law of the Republic of Kazakhstan "About education" I ORDER:

1. Approve the enclosed Rules of guaranteeing the educational loans granted by the financial organizations and determinations of the amount of such guaranteeing.

2. To provide to department of technical and professional education of the Ministry of Public Education of the Republic of Kazakhstan in the procedure established by the legislation of the Republic of Kazakhstan:

1) state registration of this order in the Ministry of Justice of the Republic of Kazakhstan;

2) placement of this order on Internet resource of the Ministry of Public Education of the Republic of Kazakhstan;

3) within ten working days after state registration of this order in the Ministry of Justice of the Republic of Kazakhstan submission to Legal department of the Ministry of Public Education of the Republic of Kazakhstan of data on execution of the actions provided by subitems 1) and 2) of this Item.

3. To impose control of execution of this order on the supervising vice-minister of education of the Republic of Kazakhstan.

4. This order becomes effective after ten calendar days after day of its first official publication.

Appendix

to the Order of the Minister of education of the Republic of Kazakhstan of October 24, 2023 No. 320

Rules of guaranteeing the educational loans granted by the financial organizations and determinations of the amount of such guaranteeing

Chapter 1. General provisions

1. These rules of guaranteeing the educational loans granted by the financial organizations and determinations of the amount of such guaranteeing (further – Rules) are developed according to the subitem 61) of article 5 of the Law of the Republic of Kazakhstan "About education" and determine procedure for guaranteeing the educational loans granted by the financial organizations and determinations of the amount of such guaranteeing.

2. The basic concepts used in these rules:

1) the educational credit - the money provided to the borrower by the financial organizations for payment of training at conditions of urgency, the paid nature and recoverability;

2) the borrower - physical person which by the creditor is granted the loan;

3) the financial organization (further - the Creditor) - the legal entity performing business activity on provision of financial services.

Chapter 2. Procedure for guaranteeing the educational loans granted by the financial organizations and determinations of the amount of such guaranteeing

3. Guaranteeing the educational credits is made by the organization which main object of activity, according to Item 2 of the order of the Government of the Republic of Kazakhstan of June 1, 2005 No. 541 "About reorganization of public institution "Financial center" of the Ministry of Education and Science of the Republic of Kazakhstan", is issue of the guarantees on the educational credits providing execution in cash (further - the Guarantor).

4. The guarantor issues to the Creditor guarantee on the educational credit which purpose is payment of educational services in educational programs technical and professional, postaverage.

5. Relations of the Guarantor and the Creditor are regulated by these rules and the agreement on provision of educational secured loans of the Guarantor signed between the Guarantor and the Creditor in the form approved by the Guarantor (further - the Agreement).

The guarantor answers to the Creditor for obligation fulfillment of the borrower under the agreement of bank loan within the guarantee size on the conditions provided by these rules and the Agreement.

6. The guarantor does not become effective the activities in direct relations with the borrower.

7. Provision to the borrower of the educational credit in cash for payment of training at conditions of urgency, the paid nature and recoverability is performed by the Creditor having the license for carrying out banking loan activities.

8. After the address of the borrower to the Creditor behind issue of the educational credit, the Creditor directs to the Guarantor the application in writing on the issue of guarantee and documents provided by the Agreement.

9. The guarantor considers the application on issue of guarantee and the documents submitted by the Creditor within 3 (three) working days from the date of their obtaining.

Following the results of consideration the Guarantor sends to the Creditor:

1) warranty obligation;

2) motivated refusal in provision of a guarantee on the bases, stipulated in Item 10 these rules.

10. The guarantor refuses to the Creditor provision of a guarantee:

1) in connection with submission of incorrectly completed application form and (or) the incomplete document package determined by the Agreement;

2) in connection with discrepancy of the borrower and (or) the educational credit to the Agreement and (or) item 4 of these rules.

11. After elimination by the Creditor of the notes specified in motivated refusal of the Guarantor, the Guarantor repeatedly considers the application on issue of guarantee and documents of the Creditor according to Item 9 of these rules.

12. The agreement of bank loan is signed between the Creditor and the borrower after obtaining by the Creditor from the Guarantor of the drawn-up guarantee.

13. The creditor grants to the borrower the educational loan separate tranches, everyone no more than training cost for academic year or one academic period (semester, trimester, quarter).

The creditor transfers the amount of the educational credit via bank transfer to the bank account of the organization of education realizing educational programs technical and professional, postaverage.

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