Interest-free repayment period In order to alleviate the financial pressure of college students, countries should pay interest-free repayment during the four-year period of school, during which the interest is paid in advance by the government, and repayment has been supported during this period. The latest interest-free repayment time is August 20 of the year after graduation, and an application for early repayment must be submitted before that. Undoubtedly, repayment at the end of college life is the most cost-effective, because not only interest-free repayment, but also can increase family mobility and reduce family consumption burden in four years. If you can repay the loan when you graduate, it is recommended to complete the repayment as early as possible.

Interest period only. Many poor college students can't repay in advance when they graduate, and they are entering the working period, during which they don't have much liquidity, so they can't repay their principal. Therefore, the state stipulates that the two-year period starting from September of the graduation year 1 is the interest-bearing period, during which there is no need to repay the principal. There is a grace period for students during school and two years after graduation. After the grace period is over, students and their parents (or other legal guardians) will repay the loan principal and interest in installments according to the loan contract. Of course, if you have sufficient funds on hand, it is recommended to repay the principal, because the principal determines the amount of interest. If you can lighten the burden, you might as well try to pay it back. Although it is not much, it can be saved. It is more cost-effective to repay at this time.

Period of payment of principal and interest. Two years after graduation, from the third year to the sixth year, the principal and interest need to be repaid at the same time every month. From the third year to the sixth year, divide your total loan by 48, which is the monthly principal payable. It must be paid off in full within six years after graduation. If it doesn't expire, it will cause high overdue fees, which will affect your credit and affect your application for credit cards and consumption in the future. As long as the principal has not been paid off, the interest will increase every day. If the principal is repaid in advance, the interest will increase less. Repayment is the most uneconomical at this time.