One of the most researched topics for students who want to study at university in Turkey is student loan and scholarship opportunities. The General Directorate of Credit and Dormitories (KYK) provides financial support to thousands of students every year. This support is divided into two: scholarships and student loans. So what is the difference between them, who can apply and how can international students benefit from this system?
Basic Differences Between Scholarship and Loan
The KYK scholarship is a non-repayable support to the student. However, the study loan must be repaid within a certain period of time after graduation.
| Feature | Scholarship | Study Loan |
|---|---|---|
| Refund | Not required | Mandatory after graduation |
| Success criteria | Academic achievement matters | More flexible |
| Cancellability | Cancellable with a grade drop | Continues |
If you want to learn more detailed differences, I recommend you to review our article Comparison of Scholarship and Loan Systems in Turkey.
KYK Application Process and e-Government Approval
Even if your application is accepted, the money will not be credited to your account unless you confirm the letter of commitment via e-Government. This point can be overlooked by most foreign students.
What Happens If The Commitment Letter Is Not Approved?
When the KYK allocates a loan or scholarship to a student, the “scholarship/loan commitment letter” must be approved via e-Government within a certain period of time in order to use this right. If approval is not granted, all learning loan entitlement for that year is canceled.
Application Calendar and Things to Consider
Applications are usually received in October-November each year. After the results are announced, there is only a 7-day approval period. In order not to miss this process, you must actively use your e-Government account.
How Much is the KYK Student Loan?
Thiscredit offered by the KYK is deposited into the student’s account regularly every month. The amount varies according to the student’s level of study. Below you can find a table with current data in USD (1 USD = 38 TL).
Monthly Payment Amounts
| Student Level | Monthly Amount (USD) |
|---|---|
| Bachelor’s | 52 USD |
| Master’s | 105 USD |
| Doctorate | 157 USD |
When to Deposit Money?
After the loan is approved, payments are made between 6-10 of each month. The funds are transferred to an account opened in the name of the student at Ziraat Bank. Notification is usually made via SMS or e-Government.
These student loan opportunities can be a serious support for students studying in foreign currency.
Turkey’s Tuition Loan Repayment Terms
The student loan from the KYK is repaid two years after graduation. However, if this process does not proceed in a planned manner, it can be financially challenging.
Payment Period After Graduation
The repayment period depends on the student’s level of education and the total loan amount. Domestic PPI difference is also added to the payment plan.
| Type of Loan | Payment Term | Deferment Facility |
|---|---|---|
| License | 4-6 years | Yes in case of unemployment |
| Master’s degree | 2-4 years | Limited |
| Doctorate | 3-5 years | Limited |
Deferment and Installment
KYK offers student loan repayments:
- 2-year deferral option
- Pay by installments (minimum ~15 USD/month)
- Advantages such as early payment discounts available
Alternative Financing Sources in Turkey
There are many other student loan and scholarship options besides the KYK. These include publicly funded scholarships, private funds and bank loans.
Public Scholarships and Private Funds
- Turkey Scholarships: Cover accommodation, tuition and monthly living expenses.
- TUBITAK: Grants master’s/doctoral scholarships in research and technology.
- Foundation and association scholarships: It is non-refundable and distributed according to very different criteria.
Many students can benefit from more than one scholarship at the same time. For details, see Possibilities to Benefit from Multiple Scholarships in Turkey.
Education Financing with Bank Loans
Especially for international students who are not eligible to apply to KYK, banks can offer low-interest education loans. Here are its features:
- 12-60 month term
- Family coverage may be required
- May offer grace period options
Step Now for the Education You Dream of!
Education is a cost, but it is also the best investment. If you want to study at university in Turkey, many different student loan and scholarship options are waiting for you.
Reaching the Right Source is Easier Than You Think
Everything starts with research. By regularly following resources like Road to Study, you can access not only information but also opportunities.