Sunday, 29 March 2020

Every year, many students graduate from the Credit Hostels Institution (KYK) with education loan

Every year, many students graduate from the Credit Hostels Institution (KYK) with education loan debts and are brought to life.

Students who have debts from KYK education loans are required to repay their debts within two years at the latest as of their graduation. In some circumstances, it is also possible to postpone debts for one year.

Students who have education loan debt should be careful about deferment. Because students who have started their debt payments cannot use their deferral rights or benefit from the early payment discount rights.

We tell you everything you need to know about KYK debt inquiry, postponement, configuration and benefit from early payment discounts. We also share with you the stage of the study loan amnesty work.

1. How is KYK Debt Inquiry Made?
KYK debt inquiry can be done in two different ways. KYK Reimbursement Inquiry Screen is the first of these ways . By logging into this screen, you can see your total debt information and your repayment plan with your old ID card or new ID card.

Another way you can query KYK debt is e-Government's Learning / Contribution Loan Repayment Inquiry page. If you have an e-Government registration, you can make a debt query on the relevant page and see your payment plan.

If you do not have a registration in e-Government, we recommend that you use the KYK Reimbursement Inquiry Screen to perform KYK debt inquiry with information such as TC Identity Number. Thus, it is possible to access your education loan repayment plan and total debt information.

2. How is KYK Debt Calculated?
Education loan debts cover your debts from the date you started to receive the loan until the date you graduated.

In addition, the amount of your debt in the Producer Price Index on Domestic Turkey Statistical Institute (Yi-PPI) increases in calculating added.

Monthly overdue of 1.40% is applied daily to debts not paid after the repayment start date. In other words, if the loan debt is not paid on time, a delay hike is added to these items.

Roughly, the calculation is as follows:

Total of the credits you have received + Addition of D-PPI + 1.40% overdue increase per month.

3. How are the Education Loan Debts Paid?
Preparing a reimbursement plan by KYK. With the addition of D-PPI to the total of the loans received, total debt is determined and the total debt is divided into monthly installments. Debt payments are also made from month to month.

Tuition loan debts are made from Ziraat Bank branches. In addition, it is possible to pay debt installments with debit or credit card on Ziraat Bank's KYK Credit and Dormitory Payments page.

Those who do not pay their loan installments on time are transferred to the tax office for the first time for a year, and all of them are repaid. At this stage, the debts have to be paid to the relevant tax office.

4. What Happens If Credit Debts Are Not Payed On Time?
You need to start paying your KYK debts no later than two years after the end of your loan purchase. Debt payment plan is prepared in this way as standard. If the debt is not paid on time, a 1.40% delay hike is operated daily.

In addition to the overdue fee, in the first stage, the debts are transferred to the Directorate of Tax Offices for one year and if not fully paid. After the transfer, the debts should be paid to the relevant tax office, not to the bank.

On the other hand, following the transfer of KYK loan debts to tax offices, e-Foreclosure may be in question. In this application, your bank accounts can be blocked. E-Lien can be removed by paying a certain part of the total debt or debt. For more information, you can check our e-Lien Removal page.

5. Is there a discount if the credit debt is paid early?
Yes, if the debts are paid early, there is a discount, but there is a point to note: If all of the loan debts are paid before the payment start date, a discount is applied. For example, if you want to pay your entire debt after the loan payment start date, no discount is applied.

All of the loans taken for the duration debt, if paid before the date of the initial payment Turkey Statistics on Domestic Producer Price Index (Yi-PPI) made discounts to debts arising from the increase. 30% if you pay your debt in the first year before the payment start date; If you pay in the second year, 20% early payment discount is applied.

To remember and underline again, the discount is applied not to the principal but to the increase in the Domestic Producer Price Index to be added to the capital.

If you want to pay your KYK loan debt early and benefit from the discount, you must call the KYK contact center at 444 19 61 before you pay . Then, you can learn your discounted debt amount and pay at Ziraat Bank branches with your name, surname and TR identity number.

6. How does KYK Debt Delay Work?
It is possible to postpone your debt for one year. In order to apply for a debit postponement, you must have any of the following reasons:

Unemployment
Military service
Master and doctorate education

If you want to postpone due to your unemployment and student status, your debt payment deadline has not arrived yet, if the payment deadline has come, you have paid your installments without delay; Lack of relations with social security institutions such as SSK, Emekli Sandığı and BAĞ-KUR are among the conditions.

Time is very important in KYK debt deferment process. Therefore, do not hesitate to call KYK contact center number 444 19 61 and get more information about your situation and delay options.

KYK debt deferment application can be made on the Credit Refund Deferral Application screen of the e-Government platform . In addition, you can make a deferment application by submitting a petition to KYK.

7. Are Loan Debts Wiped?
One of the most curious questions is whether or not KYK credit debts are deleted. Only in two cases are loan debts erased. Credit debts of those who have received a health report or who have passed away from the health committee of the hospital with the phrase “cannot earn their living by working” are completely deleted.

8. Will there be a Education Loan Amnesty?
Whether the student loan debt will be erased, will the student loan be pardoned, or will it be possible to configure it?

As a reminder, President Recep Tayyip Erdoğan said, “We will put the agenda on our agenda. We will take a step in favor of the students ”. This statement was a hope for borrowers who had difficulty in paying their debts and who were victims of e-Foreclosure.

There is no new development regarding this issue yet. It is not known whether there will be amnesty for the student loan or the debts will be erased completely, but it is not expected that such a situation will occur in case the debts are completely deleted . Expectations are shaped as delays added on the principal can be deleted or a new configuration will be available.

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