Repayment Guide for Hubei Student Loans 1. Repay the interest on time within the grace period. According to regulations, students who graduate with loans should start bearing loan interest from September 1 of the year of graduation, and pay interest on the loan in the same year. The interest for the first year will be repaid on December 20th, and the interest will be repaid on time on December 20th every year thereafter. If you are promoted from junior college to bachelor's degree or admitted to master's degree in the same year, you need to apply for an extension to the county-level financial aid center on September 1, change your education information, and apply for financial subsidies for interest during the period of continuing to study for a degree. Otherwise, the interest discount will not be continued. 2. After the grace period, repay the principal and interest on time. The first equal installment of the principal should be repaid before December 20, two years after graduation (for example, if you graduated in June 2013, it should be December 20, 2015), and then on December 20 of each year. Repay the principal on time, on September 20 of the last year of the loan period. Please refer to the "Loan Contract" for the specific time. 3. Timely update contact information (1) Graduating students should take the initiative to contact the student financial aid management center and university teachers where the loan is processed on December 1 of each year, and provide their and their family's mailing addresses and contact numbers until the loan is repaid. (2) Log in to the credit student loan online system of the student's place of origin on December 1 of each year, update personal information, and check the required repayment status until the loan is repaid. 4. How do students who enjoy loan repayment repay their loans? If loan students participate in relevant national employment projects after graduation (such as performing compulsory military service, participating in the "Three Supports and One Support", etc.) and are eligible for loan compensation, the compensation funds will be distributed to the students through the school or project organization unit, and will not The loan will be directly deducted, and the loan students are required to repay the loan interest or principal in advance according to regulations, so as not to affect their credit record. 5. Consequences of breach of contract (1) Penalty interest is calculated based on the actual overdue amount and overdue days, and the expected annualized interest rate of penalty interest is 130% of the expected annualized interest rate of normal borrowing; (2) The bank has the right to publish in the news media and on the Internet in accordance with the contract Publish the information of defaulted students on the Internet; (3) The default information and the same borrower information are loaded into the People's Bank of China's personal credit system, which directly affects personal credit (credit cards, car loans, housing loans, etc.); once the default information enters the credit system, Even if the loan is repaid immediately, the default information will be retained for 5 years.