If I get a loan in the first year of my student’s place of origin, will it have any impact if I don’t get a loan in the second year? Are there any procedures required? Help! !
If there is no impact, the loan term is in principle determined based on the number of years of full-time undergraduate and junior college education (the remaining years of the schooling system for current students) plus a maximum of 10 years, and the maximum loan period shall not exceed 14 years. Students will begin to repay the loan principal in annual installments as stipulated in the loan contract two years after graduation.
The grace period is the two years after the student is in school and after graduation. After the grace period, the student and the parents will repay the principal and interest of the loan in annual installments as agreed in the loan contract. Borrowing students who have studied for more than 4 years and continue to study for a higher degree (including graduate school and second bachelor's degree) will have a correspondingly shortened period of self-payment of principal and interest after graduation.
Extended information
The benchmark interest rate for RMB loans announced by the People's Bank of China when the loan is issued will be adjusted once every year on December 21 from the date of loan issuance. The adjusted interest rate is The benchmark interest rate for loans of the same grade for the same period announced by the People's Bank of China on the same day.
Interest for credit student loans in the student’s place of origin is calculated annually, and December 20 of each year is the repayment date. The interest while students are in school will be fully subsidized by the finance department, and the interest after graduation will be borne jointly by the students and their parents (or other legal guardians).
Baidu Encyclopedia-Credit student loan from the student’s place of origin. If the student loan is not renewed, do I need to pay it back immediately? Things to note when repaying student loans
? After the initial loan, the student loan needs to be renewed once a year, and many students will stop the loan midway and no longer renew the loan. Many people want to know if student loans are not renewed and they need to be repaid immediately? In fact, not really. Today I will give you a brief introduction to some things you need to pay attention to when repaying student loans. Interested friends can take a look.
Do I need to pay back my student loan immediately if it is not renewed? Everyone should know that student loans must be applied for once every academic year to get the loan for that year. For example, after the first loan, the loan needs to be renewed every year, which can be done online or on site. But if you are not ready to renew the loan, just do nothing. There is a time limit for student loan renewal. If you do not renew the loan at the expiration date, you will give up the loan by default. However, if the student loan is not renewed, it does not have to be repaid immediately. For example, if you do not plan to repay early, you need to complete the graduation confirmation after graduation and start repaying it in the year of graduation. The repayment period is between November 1st and December 20th each year. You need to log in to your Alipay account and deposit enough money in Alipay, or use the student loan repayment function to repay.
Student loan repayment considerations Unlike ordinary loans, student loans are subsidized loans and have a 5-year grace period for principal repayment. That is to say, the student loan contract newly added from 2020 only needs to repay the interest generated every year within 5 years from the year of graduation, and starting from the 6th year, part of the principal and interest will be repaid according to the contract. Don’t forget to repay your student loans after graduation, otherwise, overdue payments will leave bad credit on your credit report. In real life, many people have not repaid their student loans on time, which has affected their personal credit. As a result, their mortgage loans have not been approved, which is very troublesome. The above is the relevant introduction to "Do I need to repay the student loan immediately if it is not renewed?" I hope it will be helpful to everyone. What should I do if I don’t want to renew my student loan in the second year?
Student loan is still a preferential policy introduced by the state for college students. However, if you don’t want to renew your student loan in the second year, you can also Use certain methods to end this loan process. In fact, you can use certain methods to end this loan process. After all, applying for student loans from the place of origin is the needs of college students. If you feel that you no longer need to apply, you can accept this application.
You don’t need to submit a loan renewal application
The national student loan was originally a preferential policy for poor college student families. If your family situation is not good, then You can actually go to relevant institutions to apply for a student loan in your place of origin. However, in the second year, if you feel that your family conditions can support your schooling, you don’t have to submit an application. If you have not submitted a loan renewal application, , then generally speaking, it is considered that students automatically give up their student loans in the second year.
Specific regulations
In fact, the national student loan is a very good policy. Students do not need to pay interest when applying for this student loan. In other words, there is no interest on the student loan from the student’s place of origin. You only need to repay the principal within the specified time. Moreover, the grace period for the national student loan from the place of origin is relatively long, which is six years. During this period, you only need to pay back the principal. Just pay the principal and relatively low interest. If you feel that you don’t need to apply again, then you don’t have to continue to apply. It mainly depends on everyone’s financial situation.
So you don’t need to take any procedures, as long as you don’t submit a loan renewal application. In fact, many students feel that their financial situation has improved in the future. Of course, some college students may do some work-study activities in school. In this way, they can also earn some money, thereby further reducing the burden. In this case, they may not continue Applied for a student loan.