To support students in completing their university education without significant financial burdens, in addition to scholarship policies and tuition reduction, the university provides information to all students about the student loan process as follows:
1. ELIGIBLE BORROWERS
Students facing financial difficulties studying at universities (or equivalent institutions), colleges, vocational schools, and training establishments according to Vietnamese law, including:
- Orphaned students with both parents deceased or with one deceased and the surviving parent unable to work.
- Students from families meeting one of the following criteria:
- Poor families according to legal standards.
- Families with an average per capita income up to 150% of the average per capita income of poor families according to legal regulations.
- Students whose families face financial difficulties due to accidents, illnesses, natural disasters, fires, or epidemics during their study period, confirmed by the local authorities where the student resides. Any new cases arising during implementation are reported to the Prime Minister, and the Prime Minister decides on timely loans according to the decisions.
- Rural laborers of working age, with educational qualifications and health suitable for the profession they intend to pursue, can receive vocational training in various institutions such as universities, colleges, vocational schools, training centers, and professional intermediate schools under the regulations specified in Decision No. 1956/QD-TTg dated November 27, 2009, by the Prime Minister.
- Those who have completed military service can enroll in vocational training institutions under the Ministry of National Defense and other educational institutions within the national education system, as stipulated in Decision No. 121/2009/QD-TTg dated by the Prime Minister.
- Workers whose land is reclaimed according to Decision No. 63/2015/QD-TTg dated December 10, 2015, by the Prime Minister on policies to support vocational training and job placement for workers whose land is reclaimed can participate in vocational training and obtain a one-time loan according to the credit policy for students.
- Medical students facing difficulties, who have graduated (but not more than 12 months from the graduation date) from universities, colleges, and specialized medical training institutions established and operated in accordance with Vietnamese law, during their practical training at medical examination and treatment facilities to obtain professional certificates as stipulated by the Law on Medical Examination and Treatment, under Decision No. 09/2016/QD-TTg dated March 2, 2016, by the Prime Minister, are eligible for loans according to the credit policy for students.
2. LOAN CONDITIONS
- Students must be living in a legally registered household in the locality where the loan is provided.
- For first-year students, a letter of acceptance or confirmation of enrollment from the university is required.
- For second-year and onward students, a Confirmation Letter from the university confirming enrollment and no administrative penalties for gambling, drug use, theft, or smuggling is required.
3. LENDING METHODS
Social Policy Bank (NHCSXH) directly lends through representatives of the students' households, entrusting some tasks in the lending process to political and social organizations. Loans are also processed through Savings and Credit Units according to NHCSXH's current regulations.
For orphaned students or those with only one parent unable to work, they can repay the loan directly at the NHCSXH branch where the university is headquartered.
4. PROCEDURES FOR LENDING
a) For loans through student household representatives:
- Borrowers write a Loan Request Letter (provided by the bank) accompanied by a Confirmation Letter from the university or Enrollment Notice, sent to the Savings and Credit Unit for review.
- The Savings and Credit Unit checks the conditions as per regulations, compiles a list of eligible households, obtains confirmation from the commune-level People's Committee, and sends it to NHCSXH for loan approval.
b) For direct student loans:
- Students write a Loan Request Letter (provided by the bank) with university confirmation, along with an Enrollment Notice, sent to NHCSXH at the location where the university is headquartered for loan consideration.
5. INTEREST RATE
a) The current interest rate is 0.55% per month.
b) Overdue interest is calculated at 130% of the lending interest rate.
6. LOAN AMOUNT
- The maximum loan amount for a student is specified by the Prime Minister for each period. The maximum loan amount from May 19, 2022, is 4,000,000 VND per month.
- In cases where a household has multiple student borrowers, the maximum loan amount for the household is the total of the maximum loan amounts for each student in the household.
7. REPAYMENT PERIOD
The repayment period is calculated from the date the borrower receives the first loan until the full repayment of the principal and interest as agreed in the Loan Booklet. Borrowers must repay the principal and interest immediately after securing employment, earning an income, but no later than 12 months from the end of the student's course.
The maximum repayment period is determined by the formula: Repayment period = disbursement period + 12 months + repayment period.
- The disbursement period is the time from when the borrower receives the first loan until the student completes the course, including the period the student is allowed to take a leave of absence with a defined duration and retains academic results (if applicable).
- The repayment period is the time from the date the borrower repays the first debt installment to the date of full repayment of the principal and interest. The borrower and the bank agree on the specific repayment period but not exceeding the maximum repayment period specified.
- For programs with training periods up to one year, the maximum repayment period is twice the disbursement period.
- For programs with training periods longer than one year, the maximum repayment period is equal to the disbursement period.
8. BANK REPAYMENT
a) Repayment of principal:
- After 12 months from the student's graduation, the borrower must fulfill the obligation to repay the bank, with a maximum repayment period of 6 months per installment.
- If, at the final repayment deadline, the borrower is unable to repay, they must submit a request for debt extension to the Savings and Credit Unit or NHCSXH for consideration. The maximum debt extension period is half of the repayment period.
- If the borrower fails to repay on the final due date and is not granted a debt extension by NHCSXH, the entire outstanding balance is transferred to overdue debt with the application of overdue interest.
b) Repayment of loan interest:
- Loan interest is calculated from the date the borrower receives the first loan until the date of full repayment of the principal. Interest is paid monthly after 12 months from the student's graduation. During the student's study period, if the borrowing household voluntarily repays interest, NHCSXH organizes monthly collection.
- The state has a policy of reducing interest rates to encourage borrowers to repay before the due date. Maximum loan amounts for individual students are determined by the Prime Minister for each period. The maximum loan amount from May 19, 2022, is 4,000,000 VND per month. In cases where a household has multiple student borrowers, the maximum loan amount for the household is the total of the maximum loan amounts for each student in the household.
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