Children go to college, parents can borrow 333 million VND with low interest rate

Borrowed over 300 million to send children to college

After less than a week of completing the procedures, Mrs. Nguyen Thi Huong (Anh Son Dong commune, Nghe An ) and her husband were present at the Anh Son Social Policy Bank (SPP) Transaction Office to complete the loan disbursement.

Receiving 74 million VND from the Special Credit Support package for STEM learners, Ms. Huong said she will use it to pay for the first semester tuition, buy some equipment for studying and pay monthly living expenses for her son.

When her son Nguyen Viet Quang Huy (born in 2006) received the notice of admission to Vinh University, Mrs. Huong was both happy and worried.

Mr. Nguyen Viet Duong, Mrs. Huong's husband, lost his ability to work after an accident. Mrs. Huong is the main breadwinner of the family. The family's main source of income depends on a few fields of rice and pig farming. Therefore, just calculating the tuition fee, buying supplies, living expenses, renting a room... about 20 million VND makes Mrs. Huong "sweat".

Intending to borrow under the preferential student program, Ms. Huong was informed by the Savings and Loan Group about the Special Credit Support Program for STEM students. Because Quang Huy was admitted to the technical economics major, had good academic performance in 3 years of high school, and had an average score of 8 points or higher in math, physics, and chemistry in grade 12, he was eligible for preferential loans.

“According to calculations, my child studies for 4.5 years, I can borrow 333 million VND, disbursed annually or semesterly, with an interest rate of 4.8%/year, lower than the student loan interest rate or the loan program interest rate for the poor.

After completing the procedure, I was disbursed 74 million VND, the monthly interest payment is less than 300,000 VND, the quarterly interest is equal to the money from selling the piglet," said Ms. Huong.

The loan of 74 million VND helped Mr. Dinh Van Tuan (Anh Son Dong commune) reduce the pressure when his son Dinh Van Vy received an admission notice to the Faculty of Electrical and Electronic Engineering of a major university in the province.

Mr. Tuan and his wife have 3 children, Vy is the youngest son. Raising 2 daughters to go to college, taking care of jobs, starting a family... has cost Mr. Tuan and his wife a large sum of money. Therefore, when Vy started school, he and his wife had to borrow 15 million VND from the neighbors to pay the tuition.

Now, receiving the disbursement from the Anh Son Social Policy Bank Transaction Office, Mr. Tuan has paid back part of the loan, and used the rest to cover living expenses and other school fees for his children.

“If we didn’t have this capital, my wife and I would have to try harder and borrow more money for our children’s education. We still have to pay back the bank loan, but the interest rate is low, and the loan amount is enough to cover tuition for all four years of university and cover our children’s living expenses. Once Vy finishes school and starts working, we will have less pressure to pay back this loan,” Mr. Tuan shared.

Can borrow to study for master's degree, do research

According to Mr. Hoang Son Lam, Deputy Director of the Social Policy Bank, Nghe An branch, the Special Credit Support Package for STEM learners is a preferential loan program implemented under Decision 29/2025/QD-TTg of the Government issued on August 28.

The loan is used to cover tuition, living expenses and other learning expenses during the student's time studying at universities and vocational training institutions in the national education system.

Notably, in addition to applying to students in science, technology, engineering and mathematics, this preferential credit package also extends its loan scope to master's and doctoral students in the above fields.

“If the student loan program has a maximum loan amount of 4 million VND/month/person, under this new preferential credit package, the loan amount is much higher.

Specifically, the maximum loan amount includes the entire tuition fee of the student as confirmed by the school, living expenses and study expenses up to 5 million VND/month. Of course, the academic qualifications of the beneficiary of this preferential credit package are also required to be higher," Mr. Lam informed.

Creating maximum conditions for borrowers, capital is disbursed for each school year or each semester. The repayment period is double the loan period, plus the time to find a job after graduating for 1 year. The loan interest rate under this program is lower than the previous student credit package interest rate and the poor household credit program interest rate.

This is a new preferential credit program, therefore, the Nghe An branch of the People's Credit Fund has urgently disseminated the new points and conditions for borrowers to each entrusted unit of communes and savings and loan groups in villages and hamlets.

Less than half a month after implementing this credit package, the Nghe An branch of the People's Credit Fund has processed loan applications for 7 customers, with a total loan amount of more than 1.12 billion VND, and promptly disbursed 302 million VND for borrowers to pay contributions at the beginning of the school year.

Conditions for preferential credit package according to Decision 29/2025/QD-TTg:

For first-year students: All three years of high school must have academic results assessed as good or higher according to the provisions of law; or have an average score of 8 points or higher in grade 12 in math, physics, chemistry, and biology.

For students from the second year onwards: Have average academic results of subjects of good grade or higher according to the provisions of law in the year preceding the year of requesting the People's Credit Fund for loan.

Master's and doctoral students are recognized by higher education institutions as master's and doctoral students according to the provisions of law.

Source: https://dantri.com.vn/giao-duc/con-hoc-dai-hoc-bo-me-duoc-vay-333-trieu-dong-lai-suat-thap-20250913115100003.htm