Can students in difficult circumstances get loans to support their studies and pay off living expenses in Vietnam?

Can students in difficult circumstances get loans to support their studies and pay off living expenses in Vietnam?

Pursuant to Article 2 of Decision 157/2007/QD-TTg, regulations on subjects eligible for loans are as follows:

Pupils and students with difficult circumstances studying at universities (or university equivalents), colleges, professional secondary schools and at vocational training establishments established and operating according to the provisions of the Vietnamese law, including:

1. Students who are orphans of both parents or only one parent but the other parent is unable to work.

2. Pupils and students are members of households belonging to one of the following categories:

- Poor households according to the standards prescribed by law.

- Households have a maximum per capita income equal to 150% of the per capita income of poor households as prescribed by law.

3. Students whose families encounter financial difficulties due to accidents, illnesses, natural disasters, fires, and epidemics during their studies with confirmation from the People's Committee of the commune, ward, or town residence.

Clause 2, Section 2, Circular 27/2007/TT-BLDTBXH stipulates procedures for certifying subjects as follows:

a. For students who are orphans of both parents or only orphans but the other parent is unable to work, the Commune-level People's Committee will base on the list of social protection subjects under management. in the area according to the provisions of Decree No. 67/2007/ND-CP dated April 13, 2007 of the Government on Policies to support social protection beneficiaries to confirm the household's loan application. 

b. For students who are members of poor households according to the standards prescribed by law, based on the list of poor households the commune is managing, the Commune People's Committee will confirm the household's loan application. 

c. For pupils and students whose families encounter financial difficulties due to accidents, illnesses, natural disasters, fires or epidemics during their studies, based on the actual level of damage, the People's Committee of commune level confirms the household's loan application.

d. For households with per capita income above the poverty line and up to 150% of the poverty line ( for rural areas: over 200,000 VND to 300,000 VND/person/month; for urban areas: over 260,000 VND to 390,000 VND/person/month), the Commune People's Committee directs to proceed as follows:

- Organize a household income survey: use the household income survey form (according to form No. 1) to determine household income; Households with per capita income above the poverty line and up to 150% of the poverty line are compiled into a list for review.

-Organize reviews at village conferences and based on the results of the reviews to make a list of households with per capita income above the poverty line and up to 150% of the poverty line (according to form No. 2). Request the Chairman of the Commune People's Committee to confirm the household's loan application (way to do so according to the instructions in Circular No. 04/2007/TT-BLDTBXH dated January 29, 2007 of the Ministry of Labor - Invalids and Social Affairs guides the annual poor household review process).

Thus, students in difficult circumstances who are studying at universities in the above cases are allowed to borrow capital to support their studies and pay off living expenses.

Can students in difficult circumstances get loans to support their studies and pay off living expenses in Vietnam? (Image from the Internet)

How much can students in difficult circumstances currently borrow to pay off study expenses in Vietnam?

Pursuant to Article 1 of Decision 1656/QD-TTg of 2019, regulations on loan level adjustment are as follows:

Adjust the loan level specified in Clause 1, Article 5 of Decision No. 157/2007/QD-TTg dated September 27, 2007 of the Prime Minister on credit for pupils and students as follows: Minimum loan level The maximum is 2,500,000 VND/month/student.

- The Ministry of Planning and Investment and the Ministry of Finance submit to competent authorities to balance and arrange loan capital, capital to compensate for interest rate differences and management fees for the Bank for Social Policies to implement the Program after 2020 according to the provisions of law.

- The Bank for Social Policies is responsible for lending, monitoring, and debt collection in accordance with current laws, within the scope of the credit growth plan of the Bank for Social Policies approved by the Prime Minister. The government delivers every year; Self-balance capital sources for implementation from now until 2020 in the medium-term public investment plan 2016-2020 approved by competent authorities.

Thus, currently students with difficult circumstances who are eligible for loans can borrow a maximum of 2,500,000 VND/month/student in Vietnam.

Best regards!