The program is designed to assist high school pupils, university students, and postgraduate researchers in these key fields.
To be eligible for a loan, applicants must meet specific academic criteria, which are evaluated by the Vietnam Bank for Social Policies.
Eligibility requirements:
- First-Year Students: New students must have a "fair" or higher academic rating for all three years of high school. Alternatively, they can qualify with an average score of 8.0 or higher in Mathematics, Physics, Chemistry, and Biology during their senior year.
- Current Students (Second Year Onward): To be eligible for continued support, students must have achieved an "excellent" or higher academic rating in the school year immediately preceding their loan application.
- Postgraduate Researchers: Master's and doctoral candidates must be officially enrolled in a recognized higher education institution.
The loan funds can be used to cover a range of expenses, including tuition fees, living costs, and other study-related expenses. This initiative is aimed at fostering academic and professional development in crucial STEM fields.
For eligible students, the Vietnam Bank for Social Policies will disburse the loan directly to their households. The student's household representative is required to sign the loan agreement and handle all transactions with the bank.
In special cases, students may apply for the loan themselves. This is permitted if the household has no member who is at least 18 years old, or if the remaining household members are incapacitated or lack the legal capacity to act as the borrower's representative.
The maximum loan amount for each student to cover tuition fees, living expenses, and other study-related costs for the remainder of their program includes: the full tuition fees payable (after deducting any scholarships or financial aid provided by the institution, if applicable, as certified by the school); plus living expenses and other study-related costs of up to VND5 million (US$190.14) per month.
The loan interest rate is set at 4.8 percent per year. Overdue debt will be charged at 130 percent of the lending interest rate. During the disbursement period, borrowers are not required to make principal or interest payments.
Repayment of principal and interest begins 12 months after the borrower completes their course of study, in accordance with regulations. Borrowers are allowed to make early repayments without incurring any prepayment penalty.
The repayment period will be determined by the Vietnam Bank for Social Policies, with a maximum duration equal to the loan disbursement period minus any time the student is officially permitted by their institution to take a leave of absence with academic results retained (if applicable). The repayment period will be divided into installments, with repayment amounts for each installment set by the bank.
For loans of up to VND500 million per student, no collateral is required to secure repayment obligations.
For loans exceeding VND500 million per student, borrowers are required to provide collateral to secure repayment obligations, in accordance with the law on secured transactions and the regulations of the Vietnam Bank for Social Policies.
