How much monthly support loan is available for poor students in Vietnam?

How much monthly support loan is available for poor students in Vietnam?

Pursuant to Article 5 of the Decision 157/2007/QĐ-TTg (amended by Clause 2 Article 1 of the Decision 05/2022/QĐ-TTg) stipulating the amount of loan capital for poor students as follows:

1. The maximum loan amount is 4,000,000 VND/month/student.

2. The Vietnam Social Policy Bank (VBSP) shall specify the loan amount for students based on the tuition fees of each school and living expenses in the region, but not exceeding the loan amount specified in Clause 1 of this Article.

3. When the State's tuition policy changes and the cost of living fluctuates, the VBSP shall coordinate with the Minister of Finance to submit to the Prime Minister for consideration and decision on adjusting the loan capital amount.

Therefore, if you are a poor student who needs to borrow money to support living and study expenses, you are eligible for a loan of up to 4,000,000 VND/month under the law.

How much monthly support loan is available for poor students in Vietnam? - Source: Internet

What are the terms and conditions for borrowing regarding poor students in Vietnam?

Pursuant to Article 6 of the Decision 157/2007/QĐ-TTg stipulating terms for borrowing regarding poor students in Vietnam as follows:

1. The loan term is the period of time from the date the borrower begins to receive the loan to the date the loan (principal and interest) is repaid as stated in the loan agreement. The loan term includes the loan disbursement period and the repayment period.

2. The loan disbursement period is the period of time from the date the borrower receives the first loan to the date the student completes the course, including the period of time the student is allowed to take a leave of absence from school for a limited time and is allowed to retain academic results (if any). The loan disbursement period is divided into loan disbursement periods specified by the Vietnam Social Policy Bank or agreed upon with the borrower.

3. The repayment period is the period of time from the date the borrower pays the first installment to the date the loan (principal and interest) is repaid. For training programs with a training period of no more than one year, the maximum repayment period is twice the loan disbursement period, and for other training programs, the maximum repayment period is the loan disbursement period. The repayment period is divided into repayment periods specified by the Vietnam Social Policy Bank.

Pursuant to Article 4 of the Decision 157/2007/QĐ-TTg stipulating conditions for borrowing regarding poor students in Vietnam as follows:

1. Students who are living in a household with legal residence in the lending locality and meet the criteria specified in Article 2 of this Decision.

2. For first-year students, they must have a letter of admission or a letter of confirmation from the school that they have been admitted.

3. For students from the second year onwards, they must have confirmation from the school that they are still enrolled in the school and that they have not been administratively punished for the following acts: gambling, drug addiction, theft, and smuggling.

Therefore, if you want to borrow money under the support policy for poor students, you must meet the above lending conditions. The loan term is stipulated by the law as presented above.

Who are eligible for student loan assistance in Vietnam?

Pursuant to Article 2 of the Decision 157/2007/QĐ-TTg (amended by Clause 1 Article 1 of the Decision 05/2022/QĐ-TTg) stipulating subjects that are eligible for student loan assistance in Vietnam:

Students who are from disadvantaged backgrounds and are enrolled in universities (or equivalent to universities), colleges, and vocational schools that are established and operate in accordance with the laws of Vietnam, including:

1. Students who are orphaned by both parents or only orphaned by one parent but the remaining parent is unable to work.

2. Students who are family members of:

a) Poor households as prescribed by law.

b) Near-poor households as prescribed by law.

c) Households with average living standards as prescribed by law.

3. Students whose families are experiencing financial difficulties due to accidents, illness, natural disasters, fires, or epidemics during the period of study, with confirmation from the People's Committee of the commune, ward, or town where they reside.

The above are the eligible subjects for support loan assistance for students and students according to the laws of Vietnam.

Best regards!