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VietNamNews

Loans granted to aid students' studies

Update: September, 08/2014 - 08:00
The bank's leaders said it had prepared sufficient capital to meet all requests for loans by eligible students in the 2014-15 academic year.— Photo sggp

HA NOI (VNS) — Over 3.3 million students had received loans to pursue studies under a credit programme approved by the Prime Minister, according to the Vietnam Bank for Social Policies (VBSP).

The bank's leaders said it had prepared sufficient capital to meet all requests for loans by eligible students in the 2014-15 academic year.

Deputy General Director of VBSP Nguyen Van Ly highly valued the programme, and attributed its success to open and transparent procedures as well as capital management. With the close co-ordination of local authorities, VBSP could also perform transactions in communes, and reduce fees and procedures for applicants.

According to a decision issued by the Prime Minister in July, the maximum loan for each student is VND1.1 million (US$55). However, Ly wants to raise the amount with the cost of living. — VNS

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