Summary of 5 years of implementing the Student Credit Program (2007 - 2012)

(Baonghean.vn) -This morning, October 19, Nghe An Provincial People's Committee held a conference to summarize 5 years of implementing the Student Credit Program according to Decision No. 157/2007/QD-TTg of the Prime Minister.

Attending the conference were comrades: Thai Van Hang - Member of the Standing Committee, Vice Chairman of the Provincial People's Committee; Nguyen Van Ly - Deputy General Director of the Vietnam Bank for Social Policies; leaders of the Nghe An Bank for Social Policies, district social policy banks, entrusted organizations and related departments, branches and sectors.

Conference Overview.

After 5 years of implementing the Program, the loan turnover in Nghe An reached 3,001 billion VND, of which the loan turnover for the 2011-2012 school year reached 723 billion VND, the total outstanding debt as of September 30, 2012 reached 2,736 billion VND. More than 159,000 students from 122,000 families received study loans, completing 99.6% of the capital plan announced by the central government.

The report of the Provincial Social Policy Bank also stated: outstanding debt for university students reached 1,301 billion VND, outstanding debt for college students reached 944 billion VND, outstanding debt for intermediate students reached 489 billion VND, outstanding debt for short-term vocational students reached 1,057 billion VND. Debt collection turnover to date reached 271 billion VND, reaching 73% of total due debt. Some localities have implemented the program very well such as: Quynh Luu, Dien Chau, Yen Thanh, Thanh Chuong, Do Luong, Vinh city.

The network of over 8,000 savings and loan groups (SLCs) covers all villages and hamlets in the province, and 478 transaction points at communes of the Vietnam Bank for Social Policies have overcome difficulties and operated effectively.

In the next 5 years, the loan turnover plan is estimated to reach 3,300 billion VND, outstanding loan growth will reach more than 2,000 billion VND, outstanding loan at the end of 2017 will reach 5,040 billion VND.

At the Conference, Comrade Nguyen Van Ly - Deputy General Director of Vietnam Bank for Social Policies acknowledged and highly appreciated the results that Nghe An has achieved in implementing the Student Credit Program over the past 5 years. He noted that this is a program with a high socialization from the loan approval stage to the debt collection stage, with a wide range of beneficiaries and a long duration, while state resources are limited. Therefore, it is necessary to create high consensus among the people, the participation of all levels and sectors in the management and supervision of loan use, and at the same time, it is necessary to improve the operational efficiency of savings and credit groups to raise the savings awareness of loan members and increase the ability to collect debts.

Comrade Thai Van Hang - Vice Chairman of the Provincial People's Committee awarded certificates of merit to outstanding collectives and individuals in implementing the Student Credit Program in the period 2007-2012.

Comrade Thai Van Hang - Vice Chairman of the Provincial People's Committee, Head of the Representative Board of the Nghe An Social Policy Bank warmly praised the results that the Nghe An Social Policy Bank and localities have achieved. He hopes that in the coming time, local authorities, the Nghe An Provincial Social Policy Bank, and authorized organizations will continue to implement the program well, providing enough capital for all students with difficult circumstances to borrow money to study, creating more high-quality human resources for the country.

On this occasion, on behalf of the Provincial People's Committee, comrade Thai Van Hang awarded Certificates of Merit to 11 collectives and individuals with outstanding achievements in implementing the Credit Program for Students.

Chau Lan