MOSCOW, October 10 (RIA Novosti) - The Russian Union of Industrialists and Entrepreneurs, the Russian Bank Association, and the local Higher School of Economics have drafted a bill on a student loan program, the head of the union said Monday.
Student loans "would be more useful at the second stage of higher education [post-graduate studies] when a student knows exactly what position he wants in the labor market," Alexander Shokhin told a board meeting of the Education and Science Ministry.
Shokhin added that student loans would make education more flexible and adaptable to today's changing conditions.
"The labor market is very dynamic, and a long education cycle does not make it possible to adjust to the changes," Shokhin said.
He said student loans had to be subsidized in terms of interest payments and businesses donating to education needed to be encouraged by tax breaks.
"These business initiatives should at least enjoy tax breaks," Shokhin said.
