Icetex opens new line of social educational credit focused on academic merit for students in regions

The Colombian Institute of Educational Credit and Technical Studies Abroad, Icetexannounced that a new line of social educational credit focused on academic merit for students in regions was opened.

This is the Special Line of Territorial Credit with a Social Focus, aimed at students with the greatest needs in the country. “This support option for Colombians is intended for undergraduate programs at technical, technological and university levels of training”indicated the president of the IcetexMauricio Toro.

The public executive highlighted that this line of social credit has special benefits for young people belonging to 191 targeted municipalities due to their specific conditions, who, due to their scores in State tests, found it difficult to access higher education for their inhabitants. Some of the chosen municipalities are located in departments such as Chocó, Amazonas, Nariño, Vaupés, Guainía, among others.

According to the entity, this form of financing will allow Icetex fulfill the mission of promoting access to higher education in Colombia and contribute to closing the inequality gap, in addition to supporting the most vulnerable social classes in Colombia.

“Another advantage of this educational credit line is that it will allow Icetex to expand its reach and reach municipalities where it currently has a low number of loans granted,” Toro added.

The choice of these 191 municipalities is a measure to focus resources on the areas that need it most. The main requirements for special credit are belonging to one of these municipalities, having a Sisbén score between the A1 and C7 cutoffs, being admitted to an undergraduate program at a Higher Education Institution recognized by the Ministry of National Education, being Colombian, and having the Saber 11 tests required by each municipality, among others.

In addition, an interest rate subsidy will be given at all stages of the educational loan (IPC+0% during the study period, in the grace period and in the repayment period). It allows to pay 100% of the credit after completing the studies within a period of double the period financed.