Implementation of the Program for Students Borrowing Preferential Loans to Study at VNU-HCM
On September 25, Vietnam National University Ho Chi Minh City (VNU-HCM) launched a program offering subsidized loans for students to study at VNU-HCM. According to this, the VNU-HCM Development Fund (VNU-F) collaborates with BIDV Bank to implement a credit facility program for students currently studying at VNU-HCM.
The special feature of this program compared to other student credit funds is that students do not have to pay interest (interest rate is 0%). VNU-F supports the interest for students who borrow from the fund’s resources provided by the program for a period of 8 years.
Students can borrow at 0% interest for 8 years
ThS Nguyen Thanh Nguyen – Deputy Director of VNU-F, stated that the fund supporting students’ loans comes from societal contributions. Currently, VNU-F has raised 20 billion VND for the program within 4 years from Taekwang Vina Industrial Joint Stock Company. VNU-HCM and VNU-F are continuing to mobilize society and enterprises to contribute more to this program.
According to the Deputy Director of VNU-F, the target group for the subsidized loan is students who are studious and have difficult circumstances currently studying in long-term training programs, full-time concentrated programs at the training bases of VNU-HCM. The number of students who can borrow and the amount of the loan depend on the tuition fees of the training base and the VNU-HCM Council for Review’s decision.
“Specifically, students who are orphans, belong to poor households, low-income households, or face financial difficulties during their studies with confirmation from local authorities will be eligible for the subsidized loan. VNU-F also considers cases of first-year students with enrollment confirmation from the training base, and students in subsequent years must have academic results of medium-good (equivalent to 6.5/10 points) and a score of 70/100 or above in the evaluation of moral education. During the loan period, students must commit to graduating within the prescribed time of their program and have not participated in loans from other financial institutions” – ThS Nguyen Thanh Nguyen added.
Regarding the repayment of the principal, students must repay the first installment immediately after they have a job, have income, but not more than 12 months from the date the student completes their program (including cases where they have not yet secured stable employment).
“The program encourages students to repay loans, settle the loan before the due date to create resources to support the next generation of students” – Deputy Director of VNU-F emphasized.
Special Partnership Program for Subsidized Loans
PGS.TS Huynh Thanh Dat – Director of VNU-HCM, stated that this is a special partnership program between enterprises, financial institutions, and higher education institutions, the first of its kind implemented at VNU-HCM.
According to the Director of VNU-HCM, in the context of higher education institutions implementing self-governance mechanisms, the most notable change is the gradual increase in tuition fees to ensure economic-technical standards and educational service costs. This has caused concern among parents and students studying at universities, especially those from difficult circumstances in remote areas, as preparing for a 4 or 5-year university journey is not simple.
“This program is not only a useful solution, a timely source of support, helping students overcome obstacles and continue their university journey to build their future, but also helps students realize their own responsibilities, adding more motivation to strive in their studies and in life.”
PGS.TS Huynh Thanh Dat
PGS.TS Huynh Thanh Dat stated that the initial idea for creating a special program to support students was proposed by former President Truong Tan Sang.
“Based on this initial idea, VNU-HCM has developed a special program regarding its purpose, implementation methods, and content to ensure it provides the most meaningful and beneficial solution for students. The program allows students to borrow tuition fees at 0% interest and allows repayment after they have graduated.”
“This program is not only a useful solution, a timely source of support, helping students overcome obstacles and continue their university journey to build their future, but also helps students realize their own responsibilities, adding more motivation to strive in their studies and in life” – PGS.TS Huynh Thanh Dat emphasized.
Mr. Nam Jung Dae – Chief Executive Officer of Taekwang Vina Industrial Joint Stock Company, believes that supporting students with difficult circumstances who excel and become talents is a very significant contribution. The company will continue to accompany and support students to cover part of the university tuition costs and ensure students do not have to drop out due to inability to pay tuition fees.
| Documents and procedures for the subsidized loan To apply for the subsidized loan for study, students need to complete the following documents and procedures: Loan application form (according to the template, with confirmation from the student’s parent or legal guardian). Certified copy: ID card, household registration, temporary residence certificate (or other documents confirming personal information as per legal regulations). Curriculum vitae with confirmation from the local authority or training base. For first-year students, they must have an admission confirmation or enrollment confirmation from the school. For students from the second year onwards, they must have confirmation from the school regarding academic results and conduct. Students only need to submit one complete application package for the first loan. For subsequent loans, students only need to submit a loan application form; academic performance and conduct confirmation; and tuition payment notification from the training institution. Students submit the application directly to VNU-F, Room 308A, Executive Building, VNU-HCM, Linh Trung Ward, Thu Duc District, Ho Chi Minh City, from 15/10/2020 to 30/10/2020. VNU-F will inform the training institution and students of the loan approval results after the VNU-HCM Loan Review Council has approved. |
Loan Application Form for VNU Development Fund
Student Loan Confirmation Form for VNU Development Fund
Đức Lộc (VNU-HCM News number 202)
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