Ministry of Education and Science has announced the names of people, those who didn’t pay or underpaid their loans from Education loan fund last year. Most of the people who have taken loans and have not paid them back were related to the politicians and high level state officials. Even some politicians had defaulted their loans. Loan payments has increased as Education loan fund fraud was discovered.
The working group for investigating loans and grants is investigating seven cases of inquiry and two cases of investigation. Specifically, the grounds for releasing 230.1 billion MNT loans of 3069 people and 47.1 billion MNT loans of 941 students who studied foreign universities from 1997 to 2023 are being investigated individually. As part of investigation, the working group has explored personal files and materials of 2,288 students and get witness statements from more than 1,600 people. As a result, about 2,500 violations were detected in the personal files of 1,494 students.
Furthermore, of the 364 students who are related to people with political and cultural influence, 262 students have been found to be in violations.
Since the establishment of the working group, a total of 220 students have been repaid loans of 4.2 billion MNT.