Proposal for STEM students to borrow 5 million VND per month

TPO - According to the proposal of the Ministry of Finance, students majoring in Science, Technology, Engineering and Mathematics (STEM) can borrow up to 5 million VND per month, one million higher than other majors.

The content is stated in the Prime Minister's draft decision on credit for students, trainees, and postgraduates in STEM fields, recently announced by the Ministry of Finance . The goal is to attract students to this group, contributing to creating breakthroughs in the development of science, technology, innovation, and digital transformation.

Accordingly, to be eligible for a loan, students need to meet specific conditions at the time the Social Policy Bank decides to grant the loan.

For freshmen, the requirement is to graduate 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 theeducational 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.

Also according to the draft, the disbursement period is calculated from the date the learner receives the first loan until the end of the course, including the time off from school and the reservation of learning 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 temporary study leave. Borrowers must start repaying the loan no later than 12 months after the end of the course and can repay the loan early without penalty.

The debt repayment period is divided into periods with the payment level for each period decided by the Social Policy Bank.

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Source: https://tienphong.vn/de-xuat-sinh-vien-nganh-stem-duoc-vay-5-trieu-dong-mot-thang-post1734606.tpo