Hungary’s government has launched an interest-free workers’ loan program to help young people aged 17 to 25 establish their careers and secure their futures, State Secretary for Higher Education, Vocational and Adult Training, and Youth Veronika Varga-Bajusz announced in a social media post on Friday.

The program provides up to four million forints with a ten-year repayment term. Eligible applicants must work at least 20 hours a week, be entrepreneurs, and commit to living and working in Hungary for five years after receiving the loan.

“This initiative allows young people to use the funds freely for what they find most necessary in their lives, whether it’s building their future, starting a family, or realizing personal goals,” Varga-Bajusz said.

The program offers additional incentives for family planning: repayments are suspended for two years after the birth of a first child, halved after the second, and fully forgiven upon the birth of a third child.

Designed to support approximately 300,000 young people, the initiative aims to foster a stable and prosperous future for Hungary’s youth. “The success of our young people is the success of the nation,” Varga-Bajusz concluded.