Does the national student loan need interest?

Students don't need to pay interest during their school days, and the interest is subsidized by the finance. If students can repay their loans in one lump sum immediately after graduation, they will enjoy interest-free; However, if you choose to repay by installments after graduation, you need to pay interest.

The specific interest calculation method is:

1, the national student loan interest rate is implemented in accordance with the statutory loan interest rate announced by the People's Bank of China and the relevant national interest rate policies, and does not rise. The current annual loan interest rate is: one to three years (inclusive): 5.76%; Three to five years (inclusive): 5.85%; More than five years: 6. 12%.

2. If the loan is repaid in advance, the handling bank will calculate the interest according to the actual term of the loan, and will not charge any other fees except the interest payable. Interest = loan amount * corresponding annual interest rate * loan days /365.

Precautions:

Pay interest on time: the term of student loan is 10 year, and the interest rate is subject to the benchmark interest rate. Students' interest during school is fully subsidized by the state, and they must pay their own interest after graduation. Considering that some students may not be able to find jobs in time after leaving school, the state has also set a grace period of two years after graduation. During the grace period, students only need to pay interest without repaying the principal.

However, due to the lack of understanding of the policy, many students think that the grace period means no repayment and no interest. Therefore, it has caused some overdue repayments, which will have a negative impact on personal reputation.

The national student loan is an important measure taken by the CPC Central Committee and the State Council to improve the financial aid policy system of ordinary colleges and universities in China and increase the financial aid for poor students in ordinary colleges and universities under the conditions of socialist market economy. Borrowing students apply for loans from the bank through the school to make up for the lack of tuition, accommodation and living expenses during their studies at school, and repay them in installments after graduation.

The term of the student loan is 10 year, and the interest rate is based on the benchmark interest rate. Students' interest during school is fully subsidized by the state, and they must pay their own interest after graduation. Considering that some students may not be able to find jobs in time after leaving school, the state has also set a grace period of two years after graduation. During the grace period, students only need to pay interest without repaying the principal. However, due to the lack of understanding of the policy, many students think that the grace period means no repayment and no interest. As a result, there have been some cases of overdue repayment.