More than 3.2 million students have received preferential loans.

According to the report of the Social Policy Bank, after nearly 9 years of implementing the credit program for students according to Decision No. 157/2007/QD-TTg dated September 27, 2007 of the Prime Minister. Up to now, the total capital of the program is over 25,000 billion VND, fully and promptly meeting the borrowing needs of beneficiaries according to regulations.

Illustrative photo. (Photo: Doan Duc/Vietnam+)

Total lending turnover reached nearly 55,000 billion VND, total outstanding debt was nearly 25,000 billion VND. The program has provided loans to more than 3.2 million students to cover their study expenses. Currently, 1.1 million households still have outstanding loans from the Social Policy Bank for over 1.3 million students.

Accordingly, university students have outstanding debts of over 13,000 billion VND, with more than 643,000 students accounting for 55.09% of the total number of students with outstanding debts; college students have outstanding debts of nearly 8,000 billion VND, with over 437,000 students; secondary school students have outstanding debts of over 2,500 billion VND, with nearly 179,000 students; vocational students have outstanding debts of nearly 376 billion VND, with over 26,000 students accounting for 1.53% of the total number of students with outstanding debts.

The results achieved over the past 9 years show that the credit policy for students is a meaningful policy in terms of economy, politics and society, in line with the people's wishes, creating high consensus among sectors, levels and the social community.

This is also a policy credit program with profound humanity and high socialization, involving many levels, many sectors, many organizations and individuals from central to local levels participating in implementation from the stage of creating and mobilizing capital to organizing loans, debt collection and settlement.

The program has also created a connection between the economy and society in the work of poverty reduction, social security, equality in education, contributing to creating human resources for the economic and social development of the country. Currently, the program's loan level is 1,100,000 VND/month/student, interest rate 6.6% year (0.55% month)./.

According to VIETNAM+