When will student loan repayment begin
After graduation, interest will be calculated starting from September. Because loan students usually start school in September, no matter if the application is for 4 years, 5 years or even longer, the loan end month will be September. Therefore, after graduation, the first year's repayment interest is calculated from September 1st to December 20th, a period of 81 days, and interest will be accrued according to the number of days.
The subsequent interest is calculated on an annual basis. The repayment interest in the last year is less than one year. The interest is calculated from December 21st to September 20th. The interest is also calculated on a daily basis. 1. Policy introduction
① What is a credit student loan from the student’s place of origin?
The credit student loan from the student’s place of origin refers to the financial institutions such as the China Development Bank providing financial assistance to eligible families with financial difficulties. Student loans are issued to freshmen and current students in ordinary colleges and universities and are processed in the county (city, district) where the student’s household registration is before enrollment. Loans from the student's place of origin are credit loans. The student and his or her parents (or other legal guardians) are the same borrowers, and both parties bear the responsibility for repayment.
② Loan amount and purpose
The annual loan limit for full-time undergraduate and junior college students (including second bachelor’s degree students and higher vocational students) and preparatory students shall not exceed 8,000 yuan. Not less than 1,000 yuan; if the total of the annual tuition and accommodation fees is less than 8,000 yuan, the loan amount will be determined based on the total of the tuition and accommodation fees; if the total of the annual tuition and accommodation fees is higher than 8,000 yuan, the loan amount will be determined as 8,000 yuan. The upper limit of the loan amount applied for by full-time graduate students (including master's students and doctoral students) is 12,000 yuan, and other regulations are the same as those for full-time ordinary undergraduate and junior college students.
③ Loan period
According to the academic length plus 13 years, the maximum shall not exceed 20 years.
④ How to determine the interest rate?
The benchmark interest rate for RMB loans of the same period and grade announced by the People's Bank of China will not rise. It is adjusted once every year on December 21 based on the latest benchmark interest rate.
⑤ When does repayment begin and how long is the grace period for principal repayment?
During the period of study, all interest will be subsidized by the government.
If you no longer continue to study for a degree in the year of graduation, you only need to repay the interest during the three-year principal repayment grace period. The principal and interest of the loan will be repaid starting in the fourth year of graduation (except for special circumstances). After graduation, those who continue to study for a degree during the repayment period should promptly submit an application to the county-level financial aid center and provide written certification. After approval, they can continue to enjoy interest discounts and a three-year grace period for principal repayment, but the loan period will not be extended.
⑥ What conveniences can registered poor people enjoy?
Students who belong to the registered poor population can directly go to the county-level financial aid center to apply for a loan without any need to go through the loan application process. Identification of family financial difficulties.
2. Application conditions ① Applicants should meet the following conditions at the same time ② ***What conditions should the same borrowers meet? 3. Loan application process and loan application materials
① Pre-application
Students studying in ordinary high schools and secondary vocational schools, if their family’s financial ability is difficult to meet their basic expenses for study and life during college, can apply in advance, including but not limited to: high school level (Including ordinary high schools and secondary vocational schools) students who have received national scholarships in any academic year (including fresh graduates and repeat students); students from registered poor families, students from families with minimum living allowances, students with special poverty, orphans Disabled students, children of martyrs, disabled students from families with financial difficulties, children of disabled people and other students from families with financial difficulties.
② Where can I go through the loan application procedures?
Credit student loans from the student’s place of origin are applied for, approved and issued on an annual basis.
When taking out a loan for the first time, the student borrower and *** and the borrower need to go to the county-level financial aid center where both parties have their registered residences together to apply for the loan. When do student loan repayments start?
Amortization begins after graduation.
The term of credit-based student loans for students in their place of origin is in principle determined based on the full-time undergraduate and junior college program plus 10 years, and the maximum period shall not exceed 14 years.
If the schooling period exceeds 4 years or continues to study for a postgraduate degree or a second bachelor's degree, the student's loan repayment period after graduation will be shortened accordingly.
The two-year period between the student's schooling and graduation is the grace period. After the grace period, the student and his or her parents (or other legal guardians) will repay the loan principal and interest in annual installments in accordance with the loan contract.
Extended information
The new national student financial aid policy system has been implemented for more than ten years. Talking about the "original intention" of the implementation of this policy, Ma Jianbin said, "No student should be allowed to "Families with financial difficulties drop out of school." Promoting educational equity and social equity is not only a solemn commitment made by the party and the government to society, but also the "original intention" of all student financial aid workers.
The report of the 19th National Congress of the Communist Party of China proposed the "strategy of strengthening the country through education" and the "strategy of strengthening the country through talent".
“The proportion of students from families with financial difficulties in our country is around 20, which is higher in the west and lower in the east. We must help the children of these poor families so that they can receive higher education, improve their scientific and cultural quality, and master a skill. This will improve the ability of self-development and achieve stable and high-quality poverty alleviation," Ma Jianbin said.
“Currently, the proportion of students from families with financial difficulties in our country is relatively high. We need to solve the problems of dropout and dropout of these students through financial aid work, and increase the enrollment rate and retention rate.” Ma Jianbin believes that we should do a good job in student aid Work is also an important foundation for accelerating the modernization of education. When will the student loan be repaid?
Student loans are generally repaid in the first year after graduation. According to the student loan policy of the student’s place of origin, the interest settlement date of the loan is December 20 of each year.
Within two years after graduation, borrowing students should deposit the repayable loan interest into the Alipay account registered when applying for the loan before December 15 of each year. Starting from the third year after the borrower graduates, the principal and loan interest must be repaid in equal principal repayments. The last principal repayment must be paid off with interest.
If students who borrow money want to make early repayment, they can apply from the 1st to the 10th of each month (except November). The repayment date is the 20th of the month and does not require approval from the China Development Bank.
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