Kazakhstan youth does not trust educational deposits

Kazakhstan youth organizations, particularly Zhastar-2012 social movement and the youth wing of the Communist Party, do not believe in the educational deposits system and keep collecting signatures against this innovation, despite of the promise of the Ministry of Education that the number of grants would not decrease, Tengrinews.kz reports citing Dmitry Tikhonov from Zhastar-2012. Earlier these organizations have already protested against the authorities' decision to introduce education deposits system saying that the innovation will destroy Kazakhstan's education system. “We are against this deposits system. It will ruin the existing educational system, Maybe not in one step , but gradually it will,” Tikhonov said. He added that they do not believe that the government will set high interest rates on the educational deposits. In his interview to one of the local newspapers Kazakhstan Minister of Education and science Bakytzhan Zhumagulov said that the grants will not be canceled and, on the contrary, their number is growing from one school year to the next.” As per Zhumagulov, every parent will have to open such deposit for each of their kids in any of Kazakhstan's commercial bank, and a 12-percent interest rate will be annually paid one the deposit.