Russians spent 268 billion of matkapital's funds on mortgages in 2024

Last year, the Social Fund of Russia satisfied 1.6 million applications from families for the use of maternity capital and transferred over 434 billion rubles for them. At the same time, Russians spent 268 billion on mortgages, the fund's press service told Izvestia on February 26.

The most popular areas of matkapital were improvement of housing conditions (558 thousand applications) and monthly payments (600 thousand). In particular, the Social Fund transferred 268 billion to repay the mortgage, and 77 billion was also allocated for the direct purchase of an apartment, renovation and construction of a house. Families with low incomes (less than two subsistence minimums), who are eligible for regular payments, have submitted over 600,000 applications — 58 billion have been transferred to them, the press service said.

Increasingly, mother capital is also being spent on children's education. The Social Fund reminded: currently, it is possible to pay for school, university or college when the child for whom the certificate is received turns three years old. The funds can be used immediately for kindergarten and preschool lessons. In 2024, 456,000 such applications were submitted, which took 31 billion.

At the same time, over 141 thousand families took advantage of the new opportunity introduced in September 2024 - parents can receive up to 10 thousand of the unspent balance of the maternity capital in a one—time payment. You can apply for such an application through the MFC and Gosuslugi. Last year, payments in this area amounted to almost 550 million rubles.

The Social Fund recalled that the maternity capital program has been operating in Russia since 2007. Initially, parents of two children could receive financial assistance, but later the certificate was extended to first-born children. If the family did not receive a certificate for the first or second child, the parents have the right to issue it for the third and subsequent children.

On February 18, deputies of the State Duma of the Russian Federation adopted the law on the extension of the maternity capital program until December 31, 2030. The law "On additional measures of state support for families with children" will be amended. Thus, about 5 million Russian families will be eligible for maternity capital from 2027 to 2030.