Education

Students entitled to get loan of US$108 monthly at low interest rate

SGGP
Students are entitled to get a bank loan of VND 2.5 million (US$108) per month per person with preferential interest rate at 0.55 percent monthly.

Students at universities, colleges, professional secondary schools, and vocational training institutions can ask for loan with low interest rate (Photo: SGGP)

Students at universities, colleges, professional secondary schools, and vocational training institutions can ask for loan with low interest rate (Photo: SGGP)

Loans are used for paying tuition fees and covering their expenses including learning facilities, meals, accommodation, and travel.
According to Bui Van Son, Deputy Director of Vietnam Bank for Social Policies in Ho Chi Minh City branch, the bank lend students the money with preferential interest rate as per Vietnamese Prime Minister’s decision No. 157/2007/QĐ-TTg .
Beneficiaries are both high schoolers and university students of low-income families certified by local administrations; those who are left motherless either fatherless, motherless, or both parentless.
Moreover, those who have financial burden due to unexpected causes such as accidents, diseases, natural disasters, fires, epidemics are entitled to ask for the preferential loans.
The loan repayment period lasts from the disbursement date to the end date of students’ course.
Particularly, high school students who come from poor or near-poor households which have just escaped from the near-poor line can borrow loan from the fund of hunger elimination. Households can contact to receive guidance from the local authorities.
This policy is applied to students at universities, colleges, professional secondary schools, and vocational training institutions.

By Manh Hoa – Translated by Anh Quan

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