Answer: I don’t know whether you are going to study abroad for university or graduate school, because banks have different loan methods for borrowers with different study abroad levels; banks also have many conditions and regulations for borrowers. I don’t know if you are going to study abroad. Whether it meets the bank’s loan requirements.

At present, only Bank of China and Pudong Development Bank have study abroad loans in China. Although Industrial and Commercial Bank of China and CITIC Industrial Bank do not have direct study abroad loans, they have some very similar financial service projects, such as those launched by Industrial and Commercial Bank of China. Comprehensive personal consumption loans that do not limit specific consumption purposes, and study abroad deposit loans provided by CITIC Industrial Bank.

Study abroad loans are divided into two types: RMB loans and foreign exchange loans. The borrowers of RMB study abroad loans are the tuition fees and living expenses (including travel expenses abroad) required to study at overseas preparatory courses, universities, or study for master's or doctoral degrees.

Currently, only Bank of China offers foreign exchange loans for studying abroad. It has higher requirements for borrowers, who must be graduate students studying for a master's or doctoral degree abroad.

Required conditions for RMB study abroad loans

The borrowers of RMB study abroad loans are those who plan to study abroad, and the immediate family members or spouses of the students who plan to study abroad can also be accepted as third-party guarantees.

Applicants for a loan must meet the following conditions:

A natural person who is over 18 years old and has full civil capacity, and his actual age on the loan maturity date is not more than 55 years old; /p>

Have a local permanent residence or valid residence status, and have a fixed and detailed address;

Provide a formal admission notice or acceptance letter issued by the overseas school you plan to study, or other valid proof of enrollment ; Documents proving the tuition and miscellaneous fees required during the study period; Passports that have completed entry visas for the country where the student is studying abroad;

No bad credit or illegal behavior, good health, and an honest and trustworthy character ;

If you are borrowing from an immediate relative, legal guardian or spouse of someone studying abroad, you must have a fixed residence, a legitimate occupation, a stable and reliable income, good credit, and the ability to repay the principal and interest of the loan on time.

The limit and period of study abroad loans

In order to ensure the safety of assets, banks have made specific regulations on the amount of study abroad loans: in principle, it shall not exceed the amount of students studying abroad during their studies at school. 80 of the total tuition, miscellaneous fees and living expenses are required; the total equivalent RMB equivalent of the registration fee, tuition fees, living expenses and other necessary expenses within one year stated on the admission notice of the overseas school or other valid enrollment certificate, shall not exceed 500,000 yuan. RMB.

The period of a study abroad loan is determined based on the period of study abroad, the income status of the borrower and the guarantee capacity of the guarantor and collateral. It is generally 1 to 6 years. The maximum period of the Pudong Development Bank shall not exceed 6 years. The maximum period of the Bank of China No more than 10 years old.

Types of guaranteed mortgages for study abroad loans

Currently, the loan guaranteed mortgages recognized by banks are limited to three types: real estate mortgage, pledge and credit guarantee. At the same time, the maximum amount of these three types of mortgage loans is Specific provisions have also been made.

Real estate mortgage: the maximum loan amount shall not exceed 60% of the value of the mortgage approved by the lender;

Pledge: if treasury bonds or bank deposit certificates are used as collateral, the maximum loan amount shall not exceed the pledge 80% of the face value of the pledged property; if corporate bonds are used as pledge, the loan amount shall be determined based on the creditworthiness of the bond issuer, and the maximum amount shall not exceed 60% of the face value of the pledged property;

Credit guarantee: a third party provides joint liability Guaranteed, if the guarantor is a legal person recognized by the bank, the full amount can be disbursed; if the guarantor is a natural person recognized by the bank, the maximum loan amount shall not exceed RMB 200,000.

Documents required for a study abroad loan

The borrower can go to the designated branch of the bank that provides this service to get the study abroad loan application approval form, and fill it out truthfully according to the requirements of the application form. Sign and seal and submit to the lender.

The borrower needs to submit the following information:

The original and copy of a valid resident ID card, passport or pass, and household registration book;

If it is an immediate relative . For legal guardian loans, the borrower’s ID card, marriage certificate, household register, or the original and copy of a valid residence certificate issued by an authorized agency; when the above information is insufficient to prove the relationship between the person who plans to study abroad and the borrower, a copy of Proof of immediate family relationship issued by the household registration management department;

Proof of relationship between the borrower and the person going abroad and proof of economic income recognized by the lender;

Admission notice issued by the school where you plan to study abroad , a letter of acceptance and other valid enrollment documents and proof of relevant necessary expenses, and provide proof of academic qualifications; including a Chinese passport that has completed the entry visa procedures for the country where the school is located;

Pledge property or In the case of a pledge, proof of ownership of the mortgaged property or the original document of the pledged property and proof that the person with the right to dispose of the property (including the owner of the property) agrees to the mortgage or pledge should be provided. If necessary, the bank will also require the lender to provide a mortgage (pledge) at the same time. Property valuation report and insurance documents from the insurance department, documents proving the rights to the pledged property; written documents of the guarantor agreeing to guarantee, and relevant credit certification materials;

If the guarantor is a legal person, the guarantor’s agreement to guarantee should be issued Written documents (if the guarantor is a branch of a legal person, the legal person's authorization guarantee document should be issued at the same time), the corporate legal person's business license, the audited financial statements of the previous year and recent years and relevant credit certification materials;

If the guarantor is For natural persons, the guarantor’s ID card, household register, income or property certificate and other credit certificates should be provided.

Procedures for applying for study abroad loans

After receiving the borrower’s application materials, the bank lender will respond within 7 working days. If the loan is not approved, the lender will explain the reasons to the borrower and return all materials provided by the borrower; if the loan is approved, the lender will notify the borrower of the loan amount, term, interest rate and repayment plan, and communicate with the borrower and the guarantee Sign the loan contract and guarantee contract and handle the relevant loan procedures.

If the borrower is a person studying abroad, his or her domestic agent should be present when the loan contract is signed and should sign the loan contract at the same time.

If the loan is guaranteed by a legal person, the legal representative or validly authorized agent as the guarantor must be present and sign the guarantee contract.

If the loan is guaranteed by a natural person, the guarantor must be present and sign and seal the guarantee contract.

The loan contract and the guarantee contract must be notarized with enforceable effect. The "Agency Agreement" between the borrower and its domestic agent should be signed and notarized at the same time as the above-mentioned contract.

The borrower shall bear the costs of evaluation, insurance, registration and notarization of the collateral and pledged property.

Issuance and repayment of study abroad loans

Study abroad loans are directly transferred by the lender to the borrower's bank current savings account opened with the lender, or to the bank's card (Bank of China is Great Wall Card, Shanghai Pudong Development Bank Oriental Card). The borrower should deposit the repayable loan principal and interest into a current savings account or card before the loan matures as stipulated in the loan contract, and the lender will actively deduct it from the borrower's current savings account or card on the loan maturity date.

If the borrower fails to deposit the repayable loan principal and interest in full and on time, overdue penalty interest will be charged from the day after the loan maturity date.

When a loan is overdue for three consecutive months or is overdue for more than 10 months during the entire loan period, if the mortgage guarantee method is implemented, the lender will agree with the mortgagor to discount the mortgage or auction or sell the mortgage. The proceeds from the collateral repay the principal and interest of the loan. If the agreement fails, the lender will file a lawsuit with the people's court or directly apply for enforcement according to the contract; if the pledge guarantee method is implemented, the lender will agree with the pledgor to discount the pledged property, or apply for a compulsory auction or sale of the pledged property in accordance with the law. The principal and interest of the loan will be repaid with the proceeds; if a guarantee is adopted, the lender has the right to require the guarantor to perform its repayment obligations and assume joint and several liability.

Interest rates and interest calculation methods for study abroad loans

The interest rates for study abroad loans are based on the loan interest rates for the same period stipulated by the People's Bank of China. If the loan term is within one year (including one year), the contract interest rate will be applied; if the loan term is more than one year, if the statutory interest rate is adjusted, the new interest rate will be implemented according to the corresponding interest rate grade starting from March 15 of the following year. Implement segmented interest calculation.

If the loan period is within one year (including one year), the principal and interest of the loan should be paid off in one go, and the interest should be paid off along with the principal; if the loan period is more than one year, every six months will be considered as one period. Repay the loan principal and interest in equal installments.

At the same time, it is stipulated that the principal and interest payment dates of each period are March 15 and September 15 of each year;

The final maturity date of each loan is the principal and interest payment date. (i.e. March 15 or September 15), but the loan period shall not exceed 6 years (10 years for Bank of China);

If the loan issuance date is not the above-mentioned principal and interest payment date, then The borrower shall pay only interest without repaying the principal on the first principal and interest repayment date after the loan issuance date, and repay the loan interest based on the actual number of days the loan is occupied. After the first principal and interest repayment date, the amount due for each period shall be calculated according to the above formula. The amount of principal and interest repayment.

How to apply for a foreign exchange study loan

Currently, there is only one foreign exchange study loan, Bank of China, which was launched in June 2002. Foreign exchange study loans do not have to be converted into foreign currency like RMB loans. Not only is the process complicated, but the lender also bears the risk of exchange rate fluctuations. In addition, my country has restrictions on the amount of foreign exchange that can be purchased for personal study abroad, and exchange of foreign exchange has become a major problem for many overseas students to raise funds to go abroad.

Through the foreign exchange study loan, students studying abroad can directly borrow a foreign exchange loan with a maximum limit of US$40,000 from the Bank of China.

Compared with RMB study abroad loans, Bank of China has higher requirements for borrowers of foreign exchange study loans. The borrowers must be overseas students studying for a master's degree or above. The loan period is generally For years 1 to 6, the loan amount is 80% of the total tuition and normal living expenses required during study abroad.

The conditions for foreign exchange study loan borrowers and the documents that need to be submitted are basically the same as those for applying for RMB study abroad loans. The difference is that the borrower must deposit self-raised funds of no less than 20% of the loan amount.

It should be noted that the foreign exchange study loan borrows foreign exchange, so the repayment must also be in foreign exchange.

Similar to RMB study abroad loans, foreign exchange study abroad loans must also provide effective guarantees. Real estate, bank deposit certificates, bonds, etc. can all be used as collateral. At the same time, various city branches of Bank of China also piloted the guarantor guarantee method based on local actual conditions.

Bank of China has many overseas branches and a wide range of agent banks. The tuition fee part of the overseas study loan will be directly transferred to the designated account of the school where the overseas students study. The living expenses part can be processed by the Great Wall according to the requirements of the overseas students. International credit cards, traveler's checks, money orders, etc. must be carried or remitted in installments to the Bank of China branch or agency bank where the overseas student is studying at the school. The overseas student can withdraw the funds with relevant certificates.

The interest rate for foreign exchange study abroad loans is based on the same loan interest rate from Bank of China. If the term is within one year (including one year), interest will be calculated based on the contract interest rate. If the statutory interest rate is adjusted, the contract interest rate will remain unchanged. If the term is more than one year, if the interest rate is adjusted, the interest rate will be adjusted in accordance with the Bank of China's regulations on interest rate adjustment. .

Relevant people from the Bank of China reminded that certain procedures need to be completed when applying for a study abroad loan. Overseas students should arrange their time reasonably, and it is best to conduct consultation, notarization and other loan preparations before obtaining a visa.

Are you suitable for a study abroad loan?

After hard work, I passed the language test and study abroad exam, and got the admission notice from foreign colleges and universities. Seeing that studying abroad is about to become a reality, studying abroad requires a huge study abroad deposit and a large sum of money after going abroad. Tuition, fees, and living expenses have become a very high threshold.

It is understood that in addition to government-sponsored students and students who apply for high scholarships, self-financed international students have to find someone to sponsor and raise large sums of money themselves. This is undoubtedly very sad for students whose families are not wealthy and cannot find a guarantee. Hom. The overseas study loan services launched by banks can solve the urgent needs of these students.

Domestic study abroad loans have been launched for several years, but compared with housing loans and car loans, study abroad loans are not so popular. A loan officer from the Bank of China Beijing Branch revealed that the total amount of overseas study loans taken by their branch this year was less than 1.5 of the total housing loans.

Relevant analysts believe that the reasons are insufficient publicity by banks, too harsh loan conditions for studying abroad, and misunderstandings about studying abroad that many students studying abroad have.

When the reporter interviewed people who applied to study abroad, they found that the vast majority of them did not know that they could apply for study abroad loans from domestic banks; some said that the procedures for studying abroad loans were too complicated, time-consuming, laborious and expensive. They would rather borrow from relatives and friends, which is fast and hassle-free; some people say that taking out a loan to study abroad is too stressful for ordinary families, and requires a lot of extra money including principal and interest.

Compared with home loans or car loans, the conditions for study abroad loans are indeed more stringent. According to regulations, study abroad loans require mortgages or guarantees, and have maximum loan limits: if real estate is used as collateral, the maximum loan amount shall not exceed 60% of the value of the mortgaged real estate; if treasury bonds or deposit certificates are used as pledge, the maximum loan amount shall not exceed the pledged property 80% of the value; if corporate bonds are pledged, the maximum loan amount shall not exceed 60% of the face value of the pledged object; if a third party provides credit guarantee, if the guarantor is a legal person, the loan can be fully disbursed; if it is a natural person, the maximum loan amount No more than RMB 200,000.

In addition, the property used as mortgage must be the fully owned (mortgage paid) property of the international student's immediate family member with a local household registration. Except for the parents, the property of a third party is generally not recognized. This mortgage guarantee requirement greatly limits the customer base for overseas study loans. Some students who are not in the place of their registered permanent residence, or who do not have a branch of an overseas study loan bank in the place of their registered permanent residence, will be turned away and lose the opportunity for overseas study loans. Of course, these regulations and restrictions on study abroad loans imposed by banks are helpless measures to control loan risks. These measures are still necessary when personal credit integrity has yet to be gradually improved.

The average annual tuition fee plus living expenses for an international student in countries such as the United Kingdom, the United States, Canada, Australia, and Japan is about 120,000 to 150,000 yuan. Studying in countries such as New Zealand, the Netherlands, France, and Germany also requires an annual 80,000 to 100,000 yuan. Generally speaking, families who can send their children to study abroad at their own expense are relatively well-off. However, in the past two years, some less wealthy families have also sent their children to study abroad. However, some parents mistakenly believe that as long as they send their children out, they will work abroad. You can also complete your studies.

After all, studying abroad is a relatively large educational investment. It is difficult for ordinary families to come up with such a large amount of cash for their children to study. Although most countries where students study abroad allow foreign students to legally work to subsidize their expenses while studying abroad, the work that foreign students do often involves low-income jobs and industries. Without delaying their studies, they can earn less than a year's income from working part-time. It will exceed 60,000 yuan. When legal income from working is still difficult to guarantee their life while studying abroad, international students will mainly work part-time, thus losing the meaning of studying abroad. As a result, they can earn enough by working but delay their studies. Nowadays, some countries such as the United Kingdom, the United States, Australia, and Japan have very strict restrictions on the financial ability of Chinese students studying abroad. The root cause is that it is very common for Chinese students to work abroad, and some have gone far beyond the scope of studying abroad. In this case, it is indeed a good way to complete your study abroad with the help of the bank's reputation and financial resources.

It is understood that the amount of overseas study loans approved by banks is still relatively low, which is usually not enough to cover the expenses required by students to complete their overseas university or graduate studies in several years. You have to find another way yourself.

Some experts have called on financial institutions to increase loan amounts to effectively meet the actual needs of international students. The premise is to establish a safe, complete, and effective financial credit system as soon as possible so that borrowers will be conscious, proactive, and abiding after completing their studies. Repay bank loans on time and place.