National Student Loans in 2023
National Student Loans in 2023 Interest-Free and Principal Repayment Deferred
The State Council executive meeting decided to continue the implementation of the policy of interest-free and principal deferment of national student loans. Recently, the Ministry of Finance, the Ministry of Education, the People's Bank of China, and the China Banking and Insurance Regulatory Commission issued the Circular on Doing a Good Job of Repaying National Student Loans without Interest and Principal Deferment in 2023.
The Circular states that the interest on national student loans to be repaid in 2023 by students graduating in 2023 and previous years will be waived, with reference to the national student loan interest subsidy policy, and the waived interest will be borne by the central government and local governments respectively. For the principal of national student loans to be repaid within 2023 for students graduating in 2023 and previous years, the loan students can apply independently and defer repayment for 1 year, and the maximum duration of student loans shall not exceed 22 years according to relevant regulations, and the deferred loans shall not be subject to penalty interest and compound interest, and the risk classification shall not be adjusted downward for the time being. National student loan contracting banks should report credit information in accordance with the adjusted loan arrangements, and those that have been reported should be adjusted.
Provinces, autonomous regions, municipalities, municipalities directly under the central government, municipalities with separate plans, the Department of Finance (Bureau), the Department of Education (Bureau, Education Commission), Xinjiang Production and Construction Corps Finance Bureau, Education Bureau, the People's Bank of China headquarters in Shanghai, the branches, Business Administration Department, the central sub-branches of provincial capitals, sub-provincial city central sub-branches, the Banking and Insurance Supervisory Bureau, the central department of the higher education institutions, the relevant banking and financial institutions.
In order to further reduce the burden of college graduates from economically disadvantaged families, and to support the work of employment services for college graduates in 2023.
Accepted by the State Council, the State Student Loan interest waiver and principal deferment work in 2023 is notified as follows:
One, the 2023 and previous years graduated from the loan students in 2023 should be repaid within the state student loan interest to be exempted, with reference to the State Student Loan interest subsidy policy, exempted from the interest by the central government and the local financial respectively.
Second, for the 2023 and previous years of graduation loan students should be repaid within 2023, the principal of the national student loans, by the independent application of the loan students, can be postponed for one year to repay, in accordance with the relevant provisions of the term of the student loans, the maximum period of not more than 22 years, the postponement of the loan does not accrue penalties and compound interest, the risk of the classification of the temporary not be adjusted downward.
Third, the national student loan contractor banks should be adjusted in accordance with the loan arrangements reported credit information, has been reported should be adjusted.