The State Studies Foundation is a state budgetary institution, which administers financial support for students. The Foundation started its activities in 1993 when the Government of the Republic of Lithuania established the Lithuanian State Science and Studies Foundation, whose primary function was to administer support for the projects of groups of scientists. During fifteen years the Foundation has expanded its functions and has become a major institution administering public funds allocated for science; in 1998 it began to issue student loans. From the 1st January 2010 the Foundation operates under new name and regulations.
Implementing the science and higher education policies, ensuring accessibility and quality of higher education, and managing the financial support for students the State Studies Foundation shall exercise the following functions:
- Administer State loans and State-supported loans to students;
- Administer grants to students of the third level of studies in accordance with the procedure prescribed by the Board of the Foundation;
- Administer social grants to students of schools of higher education studying at the first, second or continuous study levels;
- Administer the repayment of all or part of the State funds allocated to cover the cost of studies of State-funded students to the State Budget when, in the cases and in accordance with the procedure prescribed by the Government of the Republic of Lithuania, State-funded students who are expelled from a school of higher education or terminate their studies must return the said funds to the State Budget;
- Administer compensation of a part of the cost of studies paid over a respective period of studies (which may not exceed the normative cost of studies), in accordance with the procedure and amount set by the Government of the Republic of Lithuania, for a part of non-funded students of the first-level or continuous studies who have the best performance record after the first two years (in the event of extended studies - after completing a half of the study programme) and after the remaining years of studies;
- Administer the granting of State support for the studies of children and grandchildren of expatriates and foreigners of Lithuanian descent at Lithuanian schools of higher education in accordance with the procedure prescribed by the Ministry of Education and Science;
- Implements other measures asigned by the Minsiter of Education and Science in order to ensure accessibility and quality of higher education.