Proposal to lend students 5 million VND per month to study technology majors

The Ministry of Finance is finalizing the draft Decision of the Prime Minister on preferential credit policies for students, trainees and postgraduates studying science, technology, engineering and mathematics.

Proposal for students studying mathematics, science, technology, and engineering to borrow up to 5 million VND/month (Illustration photo)

The draft aims to support learners to cover all tuition fees and living expenses, creating conditions for them to study with peace of mind, dedicate themselves and contribute to the goal of developing high-quality human resources, meeting the requirements of breakthroughs in science, technology, innovation and national digital transformation.

According to the Ministry of Finance, the main goal is to ensure that learners have sufficient financial resources to complete their studies, thereby contributing to the goals of rapid and sustainable economic development according to the policies of the Party and State.

The draft clearly defines the beneficiaries of the policy as students, trainees and postgraduates studying in the fields of education and training of the national education system, specifically the fields of: Life sciences, natural sciences, computers and information technology, financial technology, engineering technology, engineering, architecture and construction, production and processing, mathematics and statistics. These fields are regulated by the Prime Minister and related legal documents.

To be eligible for a loan, students must meet specific conditions at the time the Social Policy Bank decides to grant the loan. For first-year students, the requirement is to have graduated from high school and have three years of high school with good academic performance or higher.

For students from the second year onwards, the average learning results of the subjects of the previous year must be good or higher. For students and postgraduates, the mandatory condition is to graduate from university according to the provisions of law.

According to the draft, the maximum loan amount for each student includes the entire tuition fee (after deducting scholarships and other financial support from the school) as confirmed by the educational institution, along with a maximum living expense of VND5 million/month.

The lending interest rate is applied at the interest rate for poor households at the Social Policy Bank in each period. In case of overdue debt, the interest rate is calculated at 130% of the lending interest rate.

The disbursement period is calculated from the date the learner receives the first loan until the end of the course, including time off from school and reserve of study results (if any).

During this period, the Social Policy Bank will not disburse the loan if the student temporarily stops studying. Loan interest is calculated from the date of receiving the first loan until the principal is fully paid, but the borrower does not have to pay the principal and interest during the disbursement period.

The Ministry of Finance said the maximum repayment period is equal to the disbursement period, minus the period of time off from school. Borrowers can start repaying the loan no later than 12 months after the end of the course and can repay the loan early without penalty interest. The repayment period is divided into installments with the payment amount for each installment decided by the Social Policy Bank.

Source: https://nld.com.vn/de-xuat-cho-sinh-vien-vay-5-trieu-dong-moi-thang-de-theo-hoc-cac-nganh-cong-nghe-196250417103148374.htm