Special credit for STEM students.

The document outlines the plan to entrust the Social Policy Bank with implementing a superior credit package aimed at fostering a passion for learning, research, and innovation among young people, while simultaneously meeting the demand for high-quality human resource training to support the national digital economy and innovation development goals.

According to the Draft, the beneficiaries include all students, trainees, and postgraduate students currently enrolled in training programs in the fields of life sciences, natural sciences, computer science and information technology, financial technology, engineering technology, engineering, architecture and construction, manufacturing and processing, mathematics, and statistics. These individuals must be studying at universities, colleges, or vocational education institutions within the national education system, established and operating in accordance with Vietnamese law.

One of the highlights of the policy is the maximum loan amount designed to "cover" the needs of students. Accordingly, borrowers can receive support for 100% of tuition fees for the entire course, regardless of whether the tuition is at a public, private, or international school, along with a maximum living allowance of 5 million VND per month.

According to this structure, if a student has tuition fees of 50 million VND per year and the training period lasts four years, the total loan amount can reach 440 million VND, without needing any form of collateral as is required for loans under 500 million VND.

Regarding interest rates, the draft regulations stipulate that the interest rate will be equivalent to the interest rate for loans to poor households at the Social Policy Bank, always maintaining the lowest level compared to the general credit market. This will significantly reduce the financial burden on students and their families, while encouraging them to focus entirely on their studies and research.

The policy also clearly stipulates flexible disbursement and repayment terms. The disbursement period begins from the date the student receives the first loan installment until the end of the course. The repayment period is then calculated based on the disbursement period plus a grace period of up to 12 months after course completion.

Thus, with a 5-year training program, students can receive funding for 5 years, repay the loan in the following 5 years, and have an additional 1-year grace period, for a total of up to 11 years.

To enhance the humanitarian aspect, the Draft also allows the Social Policy Bank to consider restructuring repayment terms, extending repayment periods, or adjusting repayment terms when borrowers face objective difficulties such as natural disasters, epidemics, or family emergencies.

This regulation provides peace of mind for students during their studies and entrepreneurial endeavors, ensuring that financial burdens do not hinder their personal development and contributions to society.

The Ministry of Finance's role in drafting STEM credit policies stems from the urgent need for high-quality human resources in key sectors, acting as a "lever" for digital transformation, innovation, and rapid, sustainable economic development.

Through this, the State demonstrates its commitment to supporting the younger generation, providing them with the necessary tools and conditions to maximize their potential, thereby contributing to the creation of scientific and technological products with practical value.

Before its official promulgation, the draft is being widely circulated for comments from ministries, agencies, organizations, training institutions, and individuals. These comments will help refine the operational mechanism, ensuring efficient loan disbursement and management processes, while also aligning with the financial capacity of the Social Policy Bank.

It is expected that, immediately after the Prime Minister signs the regulations, the Social Policy Bank will announce the loan procedures and processes, and implement them nationwide. This preferential credit package for STEM education promises to provide a strong impetus, supporting hundreds of thousands of students, trainees, and researchers to study, research, innovate, and contribute to the goal of making Vietnam one of the leading countries in technology and innovation in the region.

Source: https://nhandan.vn/tin-dung-uu-dai-danh-rieng-cho-sinh-vien-stem-post875005.html