Are KYK Loan Interests Deleted? Who Can Benefit from the Regulation on KYK Debts?

President Erdoğan announced the decisions taken regarding the KYK loan arrangement. According to the regulation, loan repayments will be made only on the loan amount received. Inflation difference and interest on the loan will be deleted. Students or graduates who are still in debt and will apply for a loan will be able to benefit from the new regulation.

 Are KYK Loan Interests Deleted?

After the Cabinet Meeting, President Erdoğan went in front of the cameras and said the following about the KYK debts on the agenda:

Emphasizing that only the principal will be paid, Erdoğan said, “All our young people who still make loan repayments will benefit from this application. In total, we have lifted a burden of 26 billion TL from our youth. We are radically solving the student loan problem of 3 million 157 thousand young people. Students who will start making loan payments from next year will now only be responsible for the amount of loan they receive.” he said.

How is KYK Debt Calculated?

The debt of the students who receive the contribution loan, from the date the contribution loan is given until the end of the education period or until the loan is cut for any reason; It is calculated by adding the amount to be calculated by applying the increases in the Domestic Producer Price Index (D-PPI) of the Turkish Statistical Institute in December of the year in which he received the last loan, starting from January of the academic year in which the contribution loan is given to the amounts paid to the university accounts on behalf of the student.

What is KYK Debt?

It is a loan that does not have compulsory service obligation and is given during the normal education of the higher education institutions they attend in order to financially support Turkish citizens who are studying higher education and to facilitate their social and cultural development. Student loan debt; It is determined by adding the amount to be calculated by applying the increases in the Domestic Producer Price Index of the Turkish Statistical Institute to the amounts given to the student during his normal education.