Generally speaking, there are two types of student loans: national student loans and student-origin credit student loans. Different types of student loans have different repayment processes.
I. Repayment Process of National Student Loan
1. When the borrower graduates, if he continues to study for a degree in China, he needs to go through the loan extension procedures and continue to enjoy the national interest subsidy policy during the extension period;
2. After the borrower finishes his studies, he needs to pay off the loan in one lump sum or handle the installment repayment business. The state stops subsidizing interest, and the borrower repays the principal and interest of the loan as agreed.
(1) Before leaving school, the borrower should pay attention to the following matters: attend the repayment confirmation briefing; Sign a repayment agreement; Fill in the personal data for confirmation; Fill in the information online; When going through the formalities of leaving school, receive relevant materials for student loans; Keep the passbook, debit card, loan contract, repayment agreement, repayment plan and other important documents.
(2) Attention should also be paid to installment repayment: the bank current savings account opened at the time of loan repayment should be used; Deposit the amount due next month before the monthly deadline; At the beginning of each month, you can check the repayment situation of last month; Abide by the repayment agreement, etc. Communicate with the bank in time if there is any problem.
Second, the repayment process of student loans
Student-origin student loan is interest-free only during the period of studying at school, and the interest will start from 1 in September after graduation, and the repayment period will be entered in the year of graduation. If a student repays in advance before graduation, he only needs to return the principal without interest.
1. Normal repayment: 65438+February 30th is the fixed repayment date every year, including interest and the principal to be repaid in installments (the last principal and interest will be repaid on September 20th). Two years after graduation is a grace period. During the grace period, the borrower may not repay the principal according to the loan contract, but needs to pay the interest in full on schedule. After the grace period, the loan principal will be repaid in installments according to the average capital method (a bit like bank mortgage), and the interest will be paid in full. After the borrower graduates, the students and the borrower fully recharge the funds to the repayment account on time.
2. prepayment: you can apply from June/kloc-0 to June 1 0 every year. Repayment can be made by contacting the local self-service center or logging in to the student online system, and then logging in to the student online system for prepayment amount, which will be deposited into Alipay related account before June 15 of the application month, and repayment status can be inquired after the 30th of the application month.
3. Overdue repayment: Except for 1 1 month, overdue repayment can be made before 20th of each month. After repaying the principal and interest, if 65438 fails to repay in time on February 20 of that year, it will be regarded as loans overdue, and the penalty interest will be calculated from the current interest rate of February 2 1, 130%. The principal and interest payable for overdue repayment includes the overdue principal and interest and penalty interest on the 20th day of the month when the repayment ends. The specific amount can be inquired in the student online service system.
Summary: The above is all about how college students repay their student loans. I hope it helps you.