Loan subjects and lending purposes
According to the provisions of the Decision, students, master's students, and biomedical researchers in the fields of science, technology, engineering, and economics are allowed to borrow capital from the program to support tuition, living expenses, and other study costs during their study at universities and vocational training institutions under the national education system established and operating in accordance with the provisions of Vietnamese law.
The fields of science, technology, engineering and accounting specified in this Decision include the following specific fields and training: Life Sciences, natural Sciences, computers and information technology, engineering technology, engineering, architecture and construction, production and processing, accounting and statistics, financial technology according to the provisions of the Prime Minister on promulgating the List of education and training of the national education system and related legal documents; other key technology training fields according to the provisions of law.
Loan conditions
1. Students must have graduated from high school as prescribed by law and meet the following conditions at the time the Vietnam Bank for Social Policies (VBSP) considers and decides to approve loans as prescribed in this Decision:
a) For first-year students: All three years of high school are considered to have achieved a good or higher academic results according to the provisions of law; or an average score in grade 12 for math, physics, chemistry, biology of 8 points or higher;
b) For students from the second year onwards: Have average learning results of subjects with excellent grades or higher according to the provisions of law in the year immediately preceding the year of application for a loan from the VBSP.
2. Master's and doctoral students are recognized by higher education institutions as master's and doctoral students according to the provisions of law.
3. At the time of requesting a loan from the VBSP, learners must complete the Declaration of Information according to the form specified in Appendix I of this Decision, request confirmation from a higher education institution or vocational training institution and provide full records and relevant documents to the VBSP.
4. Every year, learners must complete the Declaration of Information according to the form specified in Appendix II of this Decision, request confirmation from the university, vocational training institution and provide it to the VBSP as a basis for loan disbursement.
Loan level
1. The maximum loan amount for 01 student to support tuition, living expenses and other learning costs for the remaining time of the course, including:
a) All tuition fees payable by learners (after deducting scholarships and other financial support from the school, if any) as confirmed by the school;
b) Other living expenses and tuition expenses are a maximum of VND 5 million/month.
2. Based on the provisions of Clause 1 of this Article, the Social Policy Bank will agree with the borrower to consider and decide on the specific loan amount for each student.
Loan interest rates
The lending interest rate is 4.8%/year.
The overdue debt interest rate is calculated at 130% of the lending interest rate.
Loan term
1. The loan term includes: loan disbursement period, the period from the date the student finishes the course to the time he/she starts paying the first loan and the repayment period.
2. The loan disbursement period is the period from the date the borrower receives the first loan until the day the student finishes the course, including the period of time the student is allowed to temporarily take a break from school and has his/her learning results reserved (if any):
a) The loan disbursement period is divided into loan disbursement terms prescribed by the VBSP or agreed upon with borrowers;
b) The Social Policy Bank does not disburse loans during the period when students are allowed temporary leave from school and have their learning outcomes reserved (if any);
c) Within the loan disbursement period, the borrower has not yet to repay the principal and interest.
3. From the date the student finishes the 12-month course according to regulations, the borrower must repay the principal and interest on the first loan. Customers who borrow capital can repay the debt before maturity without paying interest on the debt repayment.
4. The debt repayment period is decided by the VBSP, at most equal to the loan disbursement period minus the time that students are allowed to temporarily take a day off from school and have their learning results reserved (if any). The repayment period is divided into repayment terms with the repayment rate for each period decided by the VBSP.
Loan method
1. The Social Policy Bank conducts lending through households. The representative of the student's household is the person who borrowed capital and transacted with the Social Policy Bank.
2. In case the household no longer has any members who are 18 years old or older or the remaining members are unable to work or do not have the full capacity for civil acts according to the provisions of law, the student must directly borrow capital from the VBSP.
Ensuring the implementation of loan repayment obligations
1. Customers who borrow capital up to VND500 million/lescer do not have to ensure the fulfillment of loan repayment obligations.
2. Customers who borrow capital of over VND 500 million/lescer must ensure the fulfillment of their obligation to pay loans in assets according to the provisions of law on ensuring the fulfillment of obligations and regulations of the Social Policy Bank./.
