Kazakhstan Educational Savings System to be introduced after 2012

18:27, 31 January 2012

ASTANA. January 31. KAZINFORM /Murat Zhakeyev/ The State Educational Savings System (SESS) of Kazakhstan will be implemented after 2012. Minister Bakytzhan Zhumagulov told an expanded board meeting of the Ministry of Education and Science in Astana.

"For today we have concepts of the bills "On the State Educational Savings System" and "On amendments to some legislative acts on the issues of SESS." Following the adoption of these laws in 2012-2013 we have to work on large-scale introduction of SESS involving education institutions, commercial banks and the population," Zhumagulov noted.

According to him, it is necessary to actively explain to the population that the system does not replace the grant system, and is an additional opportunity to expand access to education.

"In the world, such systems have proven their effectiveness and are actively used by the population. For example, the U.S. 529 Plan allows citizens to accumulate funds for higher education, and now the program operates with assets of more than USD 100 billion," Zhumagulov said.

News Education and Science Development of the President's Message Other Governmental Authorities