If you are currently enrolled at an authorized higher education or vocational institution in Georgia, looking to obtain a loan to pay your tuition, terabank and the Millennium Fund have just the right program for you.

The long-term student loan model has been developed with global experience in mind and is fully fitted to your needs.

Loan terms:

  • Students (only citizens of Georgia) enrolled in degree or vocational programs at authorized educational institutions with international accreditation are eligible for the loan. Degrees related to science, technology, engineering and mathematics (STEM) will be prioritized.
  • Long-term loans are intended for students with active status or those whose studies have been placed on hold due to nonpayment.
  • Incoming freshmen may also submit applications for the long-term student loan. Applications will be reviewed after their official acceptance into a qualified higher education institution.

In order to qualify for the long-term student loan program, each study program must be authorized in compliance with the Georgian legislation and fulfill one of the following criteria:

  • Developed and executed in accordance with international agreements ratified by the Parliament of Georgia. 
  • Has obtained international accreditation or is currently in the process of obtaining it (which may only be confirmed with relevant documentation). 
  • Is an accredited study program in conjunction with a foreign educational institution. 
  • Is part of a joint study program defined by the Law of Georgia on Higher Education.
  • Has been recognized by a member organization of the European Association for Quality Assurance in Higher Education (ENQA).


Long-term Student Loan Terms

Borrower age

18 and above

Maximum total amount of the loan* 

Minimum amount:  300 GEL
Unsecured loan – up to 45,000 GEL
Secured loan – up to 80,000 GEL

Grace period

Up to 60 months (additional 12 months after completion of studies)

Repayment period

For unsecured loans - up to 72 months
For secured loans - up to 120 months

Interest rate

Nominal -  9.9% and above (effective interest rate - 9.01% and above)



Disbursement fee




Not required


blank / real estate

Guarantee fee 0 GEL

Cost of security registration/termination



* The program only allows annual financing. Students may obtain a maximum of 100% of the annual tuition.

In order to qualify for the long-term student loan, students must present the following information/documentation: 

  • Personal identification document.
  • Copy of a contract signed with an educational institution which confirms their enrollment.
  • Statement of enrollment status (in the case of being on hold, the statement must include the reason for the hold status).
  • Statement of examination results:
    • First semester students must provide a report of official examination scores from a relevant educational institution.  
    • All other students must provide an official statement from the educational institution which includes a report of their studies and the grade point average (GPA).
  • Information obtained regarding state educational/masters grants and/or any other potential grants available. 
  • An official invoice from an educational institution which clearly states the amount of tuition due. 

Application Form

Security Code