'Supporting' the Back-to-School Season

In their pursuit of knowledge, many students face financial difficulties, risking abandoning their dreams. However, thanks to preferential loans from the Social Policy Bank, the door to continuing their education has opened wide for them.

Officials from the Social Policy Bank guide students through the loan application process.

The family of Mr. Nguyen Duong Tinh, residing in Group 1A, Duc Xuan Ward, Thai Nguyen Province, has a son studying at the Vietnam Forestry University. They are one of many households in Duc Xuan Ward that received preferential loans to support their children's professional education. With 40 million VND disbursed promptly from this preferential loan, Mr. Tinh's family has the means to help their son pursue his academic dreams.

Mr. Nguyen Duong Tinh stated: "The procedures related to loan support are implemented by bank officials to each borrowing household. The preferential loan capital has basically met the needs for the children to continue their studies, and we hope the program will continue to support them until they complete their entire education."

When children attend university, the cost of their education is always a major concern for many families, especially those with unstable incomes due to self-employment. However, thanks to the timely implementation of preferential loan programs, families now have more resources to invest in their children's education.

Since its implementation, thousands of households in the northern mountainous communes of the province have received loans under the program, especially those living in remote and disadvantaged areas, with a total outstanding debt of tens of billions of VND. To effectively implement the policy capital, the heads of savings and loan groups and socio-political organizations are considered "extended arms" that bring the capital to the people.

Ms. Mong Thi Cham, Head of the Savings and Loan Group 1A, Duc Xuan Ward, said: Through preferential loan programs of the Social Policy Bank, the savings and loan group has coordinated with the residential group to guide people on loan procedures, ensuring the correct process and time, in order to help borrowers have financial resources for their children before the new school year.

Preferential loan capital from the Social Policy Bank not only helps reduce the financial burden but also motivates students to continue their studies, grow, and contribute back to the community. This is a sustainable investment in the future of the country.

Mr. Tran Trong Nghia, Deputy Director of the Bac Kan Branch of the Social Policy Bank, said: The preferential loan policy for students is being implemented with an interest rate of 6.6% per year, a loan amount of 4 million VND per month for 10 months, equivalent to 40 million VND, thus basically meeting the educational needs of students. The bank always has sufficient capital to meet the demand for loans under preferential credit programs.

To date, the total outstanding loan balance of the student loan program in Bac Kan and Duc Xuan wards and Phong Quang commune has reached over 370 billion VND, with 335 borrowers supporting 372 students attending schools. The program has effectively solved the financial problem for many families with children attending school, especially as they prepare for the new school year.

Source: https://baothainguyen.vn/xa-hoi/202507/tiep-suc-mua-tuu-truong-1fc49ed/