What is the maximum period for applying for a Bank of China national student loan?

The term of Bank of China’s national student loan is the academic year plus 15 years, with a maximum of 22 years.

After graduating, students who borrow the money and continue to study for a degree during the repayment period can apply for continued interest discounts. Borrowing students who apply for continued interest subsidy must submit an application for continued interest subsidy to their original university institution 20 working days before the start date of applying for interest subsidy, and provide admission notice, identity certificate and other relevant supporting documents. The original university will review the student loan application for continued interest discount within 5 working days. After approval, fill out the "Bank of China Co., Ltd. National Student Loan Adjustment Repayment Plan and Interest Subsidy Application Form" and stamp it with the official seal. The original handling bank shall handle the procedures for continuing the interest discount within 5 working days after receiving the application for continued interest discount approved by the school. From the date when the original handling bank handles the procedures for continuing the interest discount, the interest on the loan incurred while continuing to study for a degree will continue to be subsidized by the financial department of the original interest discount in accordance with the affiliation of the student's original university. Continuing interest subsidies are administered and paid by the National Student Financial Aid Administration Center. The National Student Financial Aid Management Center and the original university of the borrowing student will continue to bear the relevant responsibilities and obligations stipulated in this agreement for this loan. Borrowing students can also upload and submit the admission notice, identity certificate and other relevant certification materials through Bank of China's personal mobile banking, personal online banking and other Bank of China personal online channels, and complete the application for continued interest discount. After the review by the university sponsoring institution and the handling bank, Bank of China's personal mobile banking and personal online banking will show the signed "Bank of China Co., Ltd. National Student Loan Adjustment Repayment Plan and Interest Subsidy Application Form" to the borrowing students.

The above content is for your reference, please refer to actual business regulations.

How is the period of student loans determined?

The maximum period shall not exceed 22 years.

The latest regulations on student loans in the student’s place of origin: the loan period is the academic year plus 15 years, with a maximum of 22 years. The grace period is 5 years. This policy will be implemented in 2020. For new contracts in 2020, the grace period for principal repayment is 5 years; for existing contracts before 2020, student loan contracts that have not started repaying the principal (that is, students have not graduated or have graduated but have not Loans that start repaying the principal), the borrowing student can apply to extend the grace period to 5 years within the loan period stipulated in the original contract through a change in repayment plan.

The loan period of the Bank of China’s national student loan

The loan period of the national student loan is the academic year plus 15 years, with a maximum of 22 years.

After graduating, students who borrow the money and continue to study for a degree during the repayment period can apply for continued interest discounts. For further information, please contact the Bank of China loan agency.

The above content is for your reference, please refer to actual business regulations.

That’s it for the introduction of whether there is a time limit for student loans.