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One of the first students to receive an education loan was nineteen year old Ayman Arymbaeva, a student of "Tourism Management" at the Academy of Tourism. "Student loans give people a chance to get an education", - Ayman said.

Due to a joint project between USAID and KICB, students and their families can receive loans for education on special concessionary terms which are at a lower interest rate than consumer or business loans. For example, the interest rate on a KICB student loan of KGS 20 thousand is five percent lower than the rate of a similar KICB business development loan. And in comparison with loans generally offered by other commercial banks, KICB student loans are only half the cost. Moreover, under a special condition, loans below KGS 120 thousand do not require property to be pledged as collateral.

"I urge all young people of Kyrgyzstan to study hard and strive for the best!" – Ayman said. She suggests that tourism is one of the most promising fields, and she looks forward to working within it soon.

An additional program within the student loan is designed to promote excellence. For instance, KICB offers further special benefits for academically exceptional students. Under its “A-student” program, KICB provides top students with a preferential interest rate of 10% annually, which is far less than the average. This allows high-performing university-goers to devote themselves and concentrate fully on their education. After they graduate, KICB and USAID will provide employment guidance and support to the best students.

Student loans were recently launched by KICB in mid-May 2009. While KICB’s experience in working with student loans is limited, the product is already quite developed and flexible. It is also tailored to encourage “A-students” to maintain excellence in order to continue taking advantage of the preferential rates.