What are the conditions for industrial student loans?
The objects of industrial student loans include: the students of senior three college entrance examination in 2020, college students (doctors, graduate students, undergraduates, junior college students, higher vocational colleges, international students) and their parents. International students are only for China students studying abroad, excluding foreigners.
The main borrowers of industrial student loans are parents, and the borrowers are students themselves. Considering the loan risk, the student loan requires parents to have good credit information and no bad credit record.
Repayment requirements of industrial student loans
The term of industrial student loans to students and parents is very long, with the longest repayment period of 20 years, and the repayment pressure is very small. The amount in the student loan is not low, with a maximum of 200,000.
There are three ways to repay industrial student loans: the first way, during the loan period, students only need to pay interest as long as they are still studying at school; Second, loan students have a buffer period after graduation, and they can only pay interest, and the longest buffer period is 5 years; Third, loan students can choose to repay the principal and interest immediately after graduation, and the longest repayment period is 10 year.
Student loans have additional benefits. For student loans, Xingye will give college students a valuable personal accident insurance. And students can apply for interest-free if they drop out of school due to illness or join the army.
For families who are short of money and have too much economic pressure in a short period of time, Industrial Student Loan can solve a temporary emergency, with low loan requirements and low repayment pressure. Students and parents don't have to rush to repay the principal, they just need to pay interest in the early stage, so they don't have to worry too much about repayment.