What are conditions to enjoy the 2024 student loan policy in Vietnam?

Who are eligible for benefit from the 2024 student loan policy in Vietnam?

According to Article 2 of Decision 157/2007/QD-TTg amended by Clause 1, Article 1 of Decision 05/2022/QD-TTg, regulations on entities eligible for loans are as follows:

Entities eligible for loan:

Pupils and students with difficult circumstances studying at universities (or university equivalents), colleges, professional secondary schools and at vocational training establishments established and operated 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. 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 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.

According to this Article, the following students will be eligible for the student loan policy:

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

- Students are members of households belonging to one of the following categories:

+ Poor households according to the standards prescribed by law.

+ Near-poor households according to the standards prescribed by law.

+ Households with average living standards according to the standards prescribed by law.

- Students whose families encounter financial difficulties due to accidents, illnesses, natural disasters, fires, or epidemics during their studies with confirmation from the People's Committee of the commune, ward, or town where they reside

What are conditions to enjoy the 2024 student loan policy in Vietnam? (Image from the Internet)

What are conditions to enjoy the 2024 student loan policy in Vietnam?

According to Article 4 of Decision 157/2007/QD-TTg, the eligibility conditions are as follows:

Loan conditions:

1. Pupils and students living in households legally residing in the locality where the loan is granted meet the criteria specified in Article 2 of this Decision.

2. For students, first-year students must have a notice or confirmation of admission from the school.

3. For students from the second year onwards, there must be confirmation from the school that they are studying at the school and are not subject to administrative sanctions or more for the following acts: gambling, drug addiction, stealing, smuggling.

According to this Article, conditions for students to enjoy the student loan policy for 2024 in Vietnam are:

[1] Living in a household that legally resides in the locality where the lender meets the criteria for a loan

[2] If you are a first-year student, you need a notice or confirmation of admission from the school.

[3] For students from the second year onwards, there must be confirmation from the school that they are studying at the school and are not subject to administrative sanctions or more for the following acts: gambling, drug addiction, theft, smuggle.

Can students borrow a maximum of 4 million VND per month in Vietnam?

According to Article 5 of Decision 157/2007/QD-TTg amended by Clause 2, Article 1 of Decision 05/2022/QD-TTg,, the maximum loan level is stipulated as follows:

Loan level:

1. The maximum loan is 4.000.000 VND/month/student.

2. The Bank for Social Policies regulates specific loan levels for students based on each school's tuition fee and living expenses by region but does not exceed the loan level specified in Clause 1.

3. When the State's tuition policy changes and the cost of living fluctuates, the Bank for Social Policies agrees with the Minister of Finance to submit to the Prime Minister for consideration and decision to adjust the loan level.

According to this Article, students will be able to borrow a maximum of 4 million VND/month and this loan level will be applied from May 19, 2022 in Vietnam.

However, in case the Government adjusts the new maximum loan level, it will be applied in Vietnam.

The specific loan amount will be determined by the Policy Bank based on each school's tuition fee and living expenses by region but does not exceed the maximum loan amount in Vietnam.

Best regards!