Bank of China national student loan repayment methods:

1. Repayment plan.

Before the borrowing students graduate and leave school, the university institution should organize the borrowing students to formulate a repayment plan with the handling bank and go through the repayment confirmation procedures. After the borrowing students have completed the above procedures with the handling bank, the university can handle the graduation procedures for them, and is responsible for notifying the students' parents or other legal guardians of the repayment plan of the graduating students.

2. If a student who borrows a loan does not continue to pursue a degree in the year of graduation, he or she can choose a grace period for repaying the loan based on his or her employment situation and income level, that is, starting from any month within 60 months after graduation. The principal and interest period, specific matters shall be submitted to the handling bank by the graduating student when completing the repayment confirmation procedures, and shall be reviewed and approved by the handling bank. During the principal repayment grace period, students who borrow money only need to repay the interest and do not need to repay the loan principal. If a graduate student who borrows money does not choose to start the loan principal and interest repayment period any month within 60 months after graduation, the loan principal and interest repayment period should start from the 61st month after graduation. Borrowed students who continue to study for a degree during the repayment period can still enjoy the grace period for principal repayment during the repayment period after they graduate.

3. Loan interest payment.

While students are studying in school, all interest incurred on national student loans will be subsidized by special interest subsidy funds arranged by the finance department, and will be paid quarterly by the National Student Financial Aid Management Center.

4. After the borrower graduates, all the interest incurred on the national student loan will be paid by him/her on a monthly basis, starting from the first interest settlement date after graduation. When a borrowing student completes, drops out, takes a leave of absence, drops out, or has his student status canceled in accordance with the university's student status management regulations, he will pay all interest from the first monthly interest settlement date after completing the relevant procedures. If a borrowed student suspends his studies due to force majeure or other reasons while in school, he may apply for a suspension interest subsidy.

5. Compensation policy.

Graduation loan students who enjoy the national student loan reimbursement policy shall be implemented in accordance with relevant policy regulations.

(Answer time: March 18, 2024)

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

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