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The UE-UD: The first university in Vietnam covers full interest of student loans, in association with the Vietnam Bank for Social Policies

18/09/2017

On September 18th, 2017, University of Economics – the University of Danang (UE-UD) officially signed the collaboration agreement with the Vietnam Bank for Social Policies (VBSP) on sponsoring interest for orphan students or students from low-income families who borrowed from student loan program regarding Decision No. 157/2007/QDD-TTg by the Prime Minister at VBSP.



In 2017, the Prime Minister approved the initial scheme of the UE-UD for innovating operation mechanism, implementing financial autonomy. Accordingly, from the intake of 2017-2018, tuition fee will be adjusted in compared with the previous years (tuition fee of previous intakes keep following the regulation for other public universities). This adjustment brings the University resources for investment in facilities, infrastructure, innovation of education programs and teaching methods. However, in order to support students not to be affected by this change, UE-UD signed the agreement with VBSP on supporting interest payment of student loans for students belong to families under preferential treatment policy, low-income families and orphan students. The term of this financial sponsor follows training term (not exceeding four years).





Moreover, tuition fee for students from families under preferential treatment policy is same as previous intakes (when the autonomy scheme has not yet deployed). Simultaneously, UE-UD continues to support students under preferential treatment policies in the form of exempting 100%, 70% and 50% of tuition fee regarding the related regulation. UE-UD will further continuously help students by extracting from its grants and encouraging scholarships from businesses, alumni…

The UE-UD is the first university across the country signs agreement with VBSP to deploy this humanitarian policy. The agreement shows the efforts of UE-UD to fulfil its goal of no student has to quit school due to financial difficulties. This policy as well as other related policies on scholarships, accommodation, learning conditions, employment… demonstrate how the UE-UD cares about their students.



Associate Prof. Dr Nguyen Manh Toan – the Rector of UE-UD – believes that this is a good model. If this model can be strongly developed, there are many students from low-income families can borrow funds to cover the cost of studying and actualize their dreams



Mr Nguyen Van Ly – Deputy General Director of VBSP – strongly supports this policy and will broadly promote it to needed targets, as well as broaden the model to other institutions across the country because of its humanity for students in difficult conditions



News translated by Department of Research & International Cooperation


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