You are a student, in need of loan assistance, but do not know how to get a student loan? In this article CashBerry will guide you in detail.
Tuition fees are increasing year by year, rent and living costs are equally expensive. This puts many students under pressure during their school years away from home. Understanding that difficulty, the state and credit institutions have launched student loan packages. So how do you get a student loan , what is a student loan , what are the conditions and procedures?
Below CashBerry will guide you how to borrow student loans according to State policy and offer the most effective financial solution for each specific case.
Borrowers are students at schools established and operating in accordance with the law who have financial difficulties and cannot cover tuition fees and living expenses during their studies.
Students have only one father or mother, even if both parents are orphaned, their family members lose their ability to work and have no stable income.
Students who are family members are considered and issued a poor household book according to the provisions of law.
Students are not administratively handled or more for acts: addiction, gambling, theft, etc.
– Students who are in difficult circumstances, whose families are in financial crisis due to unexpected illness, accidents, epidemics, or fires (with confirmation from competent authorities).
● 01 photo ID card (bring the original for comparison)
● 01 photo student card (bring the original for comparison)
● 01 copy of household registration book (no need for original or notarized copy)
● Other requirements depending on the lender
– Student loans are made through the household. The representative of the head of household will be the person who directly borrows the loan and is responsible for repaying the loan to the bank.
– In case the student no longer has one parent or the other parent is no longer able to work, the student will be the one to directly borrow from the bank .
- First-year students must have a certificate of admission or a certificate of admission from the University.
– Students from the second year and above must have a confirmation from the school to prove their attendance and not be administratively sanctioned for acts of gambling, theft, drug addiction, smuggling, etc.
Students with difficult circumstances should apply for a student loan application form.
– Review at the faculty office to the Student Affairs office of the school.
Students or students' families carry out student loan procedures in their locality.
Decision No. 157/2007/QD-TTg dated September 27, 2007 stated:
From January 9, 2016, the maximum loan amount for each student, official student will increase from 1.1 million VND/month to 1.25 million VND/month.
● Loans from August 1, 2011 onwards will apply the interest rate of 0.65%/month.
● Overdue debt interest rate will be 130% of loan interest rate.
In case the student pays the loan before the due date as committed in the contract, the interest rate will be preferential and this interest rate will be clearly and specifically regulated by the lending institution.
Students studying in provinces and cities across the country such as Hanoi, Ho Chi Minh, Hai Phong, Can Tho, Da Nang, Binh Duong, Hue, Da Lat, etc. can be supported to borrow funds from the ward and commune fund associations. , banks, credit institutions, can be followed by a number of units such as:
● Bank for Policy and Society
● Student loans Agribank, Tpbank
● Local funds to help disadvantaged people
After knowing how to get a student loan , you should also pay attention to the following issues when applying for a loan.
● The procedure has many inadequacies and troubles
Confirmation documents in the student loan process have not been consistent among relevant departments. The Ministry of Education and Training issues the student enrollment confirmation form. The Policy Bank is responsible for disbursement and the People's Committee of the commune where the student's family is registered for permanent residence is responsible for certification.
However, students have to confirm many times because there is no consensus among these 3 departments, thereby creating many difficulties for students and households to borrow loans.
● The repayment of debt after graduation
According to the student loan policy, the repayment of capital is stipulated in 12 months after graduation. This is difficult to do because a large number of students today can't find a job or have a precarious income when they graduate.
If the parents are the loan guarantors, each year the loan amount is about 10 million VND, after 4-5 years it will reach 40-50 million, not including student loan interest and overdue interest.
● The loan is less than the need
The current loan rate for students is about 1,500,000 VND/month/student only partially supports living.
Faced with financial pressure, students often fall into crisis because they can't get a bank loan? Therefore, financial companies have come up with a superior solution to help you, which is to borrow money online with your identity card . So, how do students borrow money online?
CacshBerry is a financial consulting company , lending money online via website and application (app) with a limit of 1 - 10,000,000 VND. Student loans here just need to register via cashberry.vn without any collateral or proof of income.
The loan process is completely online, so you don't have to go to the transaction office. Just have an ID card or CCCD to make documents and a bank account to receive money.
Summary of online loan features with ID card
Borrow money online
10.95 - 14.6%/Year
1 - 10 million VND
10 - 30 days (can borrow many times after payment is done)
Loan extension when payment cannot be made on time
How do students borrow money ? Now you can answer this question through the information shared above. Not only supported by the State and banks, CashBerry financial company is also ready to provide loan limits for students. Please consider the ability to repay debt, use capital effectively! Good luck.