In order to reduce the financial burden of students with loans and increase support for students with financial difficulties, the state has further changed the student loan. At the same time, it doesn't matter if the application period is too long. You can apply for early repayment if you have the ability to repay. Then, how long will the grace period of student loans be extended?

How long is the grace period for student loans extended?

According to the latest Notice on Adjusting and Perfecting Relevant Policies of National Student Loan, the grace period for repaying the principal of student loan is extended from 3 years to 5 years. In addition, from June 5438+1 October1day in 2020, the interest rate of newly-signed student loans will be lowered by 30 basis points according to the market quotation rate of loans of the same grade in the same period. Among them, during the grace period of repayment of the principal, the borrower only needs to repay the loan interest, and does not need to repay the loan principal. After the grace period for repayment of the principal, the borrower shall repay the principal and interest of the loan by annual installments.

Generally speaking, extending the grace period of student loans to five years can effectively alleviate the repayment pressure of students. I have to say that the latest Notice on Adjusting and Perfecting Relevant Policies of National Student Loan also shows that the term of student loan is adjusted from academic system plus 13 to academic system plus 15 for the longest period of 20 years, and 22 years for the longest period.