Students at institutes and universities will be granted a monthly stipend of MNT 70,000 under the law on higher education financing and student stipends.

President Ts.Elbegdorj submitted the draft law to Parliament, which passed it in June 2011. The total cost of the stipends is estimated at MNT 130 billion.

The law was to take effect on January 1, but the Ministry of Education, Culture and Science has not issued rules for granting the stipends yet.

Ministry spokesperson N.Zorig told our correspondent that the ministry submitted draft rules to the Government in December. After the Government approves the rules, the stipends will be granted. He added that money for the program has already been allocated in the state budget.