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- Decision No. 29 stipulates credit policies for students studying science, technology, engineering and mathematics to support tuition fees, living expenses and other study expenses during their studies at higher education and vocational training institutions in the national education system. Specific fields of study: life sciences, natural sciences, computers and information technology, engineering technology, engineering, architecture and construction, production and processing, mathematics and statistics, financial technology and other key technology training fields as prescribed by law.
STEM students in need should contact the City Social Policy Bank branch, Social Policy Bank transaction office, People's Committee of the commune, ward, savings and loan group, residential group where they legally reside...
Could you please tell me about the loan subjects, conditions and methods?
- The loan recipients are those studying STEM as prescribed in Decision No. 29. Regarding loan conditions, students must have graduated from high school and meet the following conditions: For first-year students: all 3 years of high school have been assessed as having good or higher academic results; or in grade 12, the average score in math, physics, chemistry, and biology is 8 points or higher. For students from the second year onwards, the average academic results in all subjects are good or higher in the year immediately preceding the year of requesting the loan from the Social Policy Bank. Master's and doctoral students are recognized by higher education institutions as master's and doctoral students according to the law.
At the time of requesting the Social Policy Bank for loans and annually, students must fill out the information declaration form according to the prescribed form, request confirmation of the university or vocational training institution and provide complete records and related documents to the Social Policy Bank as a basis for loan disbursement.
The Social Policy Bank provides loans through households. The representative of the student's household is the person who takes out the loan and transacts with the Social Policy Bank. In case the household has no members aged 18 or older or the remaining members are unable to work or do not have full civil capacity according to the law, the student will directly take out the loan at the Social Policy Bank.
Representatives of STEM students' families receive loans at Cai Rang Social Policy Bank Transaction Office. Photo provided by Cai Rang Social Policy Bank Transaction Office.
What about the capital, interest rate and loan term, sir?
- The maximum loan amount for 1 student includes: the total tuition fee the student must pay (after deducting scholarships and other financial support from the school, if any) as confirmed by the school; living expenses and other study expenses up to 5 million VND/month. The Social Policy Bank negotiates and agrees with the customer to consider and decide on the specific loan amount for each student. The loan interest rate is 4.8%/year. The overdue debt interest rate is calculated at 130% of the loan interest rate.
The loan term includes the loan disbursement period. The time from the date the learner finishes the course until the first loan repayment and the repayment period. The loan disbursement period is calculated from the date the learner receives the first loan until the end of the course. The loan disbursement period is divided into periods as prescribed by the Social Policy Bank or agreed upon with the customer. During the loan disbursement period, the customer does not have to pay the principal and interest. From the date the learner finishes the 12-month course, the customer must pay the principal and interest for the first time. The loan repayment period is divided into periods, with the repayment amount for each period decided by the Social Policy Bank.
Can you provide more information on debt extension, overdue debt transfer, loan repayment, debt classification and handling of risky debt?
- In case the customer cannot repay the debt on time according to the final repayment period and has a written request for debt extension, the Social Policy Bank shall consider and decide to extend the debt for the customer; the maximum debt extension period is equal to 1/2 of the prescribed repayment period. In case the customer uses the loan for the wrong purpose or does not repay the debt on time and is not approved to adjust the principal repayment period or extend the debt, the Social Policy Bank shall transfer the overdue debt to the principal balance that is not used for the right purpose or not paid on time by the customer. The Social Policy Bank shall coordinate with local authorities, relevant agencies and units to implement debt recovery measures according to regulations.
Regarding the guarantee for loan repayment, students borrowing up to 500 million VND do not have to guarantee the loan repayment; those borrowing over 500 million VND must guarantee the loan repayment with assets according to the law. The debt classification and handling of risky debts for loans under Decision No. 29 are carried out according to the law at the Social Policy Bank.
Thank you!
ANH PHUONG (performed)
Source: https://baocantho.com.vn/ong-lang-chanh-hue-thao-giam-doc-chi-nhanh-ngan-hang-chinh-sach-xa-hoi-tp-can-tho-dam-bao-dap-ung--a190726.html
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