Decision No. 09/2022/QD-TTg on credit for students from financially disadvantaged families to purchase computers and equipment for online learning

a) Students at all levels currently enrolled in educational institutions under the national education system as prescribed by the Education Law who meet the conditions set forth in Clause 2 of this Article (hereinafter collectively referred to as students);

b) Students and trainees currently enrolled in universities (or equivalent to university level), colleges, vocational schools, and vocational training centers established and operating in accordance with Vietnamese law who meet the conditions set forth in Clause 2 of this Article (hereinafter collectively referred to as trainees).

2. Students and trainees must meet the following borrowing conditions:

a) They are members of households belonging to one of the following categories: poor households, near-poor households, households with average living standards as defined by law, or households in difficult circumstances due to the impact of the COVID-19 pandemic (with either parent or both parents deceased due to the pandemic);

b) They do not have computers or equipment meeting the requirements for online learning and have not yet received any form of support for such equipment.

1. The lending to students and trainees shall be conducted through household loans. The representative of the household of the student or trainee shall be the borrower and shall transact with the Vietnam Bank for Social Policies.

Article 4. Loan Methods

2. In cases where the subject specified in Point b, Clause 1 of Article 3 of this Decision has reached 18 years of age, they may directly apply for a loan from the Vietnam Bank for Social Policies at their place of residence or at the bank branch nearest to their school if there are no other household members aged 18 or older or if the remaining members are unable to work or lack full civil capacity as prescribed by law.

The lending by the Vietnam Bank for Social Policies shall be carried out through entrustment to political and social organizations according to entrustment contracts or direct lending to borrowers.

The borrowed funds shall be used to purchase computers and equipment meeting the requirements for online learning, including desktop computers, laptops, tablets, digital recording devices (webcams), and audio recording devices (microphones).

Article 5. Purpose of Loan Usage

The maximum loan amount per student or trainee is 10 million VND.

1. The maximum loan amount is 25 million VND per type of work per customer.

1. The maximum loan term is 36 months.

Article 8. Loan term

The currency for loan and repayment is the Vietnamese Dong.

The loan term shall be agreed upon between the Social Policy Bank and the customer but shall not exceed five years (60 months).

2. For cases where trainees directly apply for loans as stipulated in Clause 2 of Article 4 of this Decision:

a) At the time of borrowing, if the expected end date of the course is more than 24 months away, the maximum loan term will be calculated from the date of borrowing until 12 months after the expected end date of the course;

b) The expected end date of the course for trainees as specified in Point a of this Clause shall be determined based on the confirmation letter from the school.

1. The interest rate for the loan is 1.2% per annum.

1. The interest rate on loans is 9.0% per annum.

2. The overdue interest rate is equal to the interest rate for poor household loans at the time of borrowing.

2. The interest rate for overdue debt shall be equal to the interest rate for poverty-stricken household loans at the time of borrowing.

Article 10. Sources of loan capital and disbursement time for loan capital

1. The source of loan capital under this Decision and the loan capital under Decision No. 157/2007/QĐ-TTg dated September 27, 2007 of the Government on credit for students and the related amended and supplemented documents (if any) shall be a maximum of 30,000 billion VND from the issuance of government-guaranteed bonds of the Social Policy Bank as stipulated in Resolution No. 11/NQ-CP.

2. The use of the capital shall be carried out in accordance with Resolution No. 43/2022/QH15, Resolution No. 11/NQ-CP and related guiding documents.

3. The disbursement time for loan capital shall not exceed December 31, 2023 or the time when the loan capital specified in Clause 1 of this Article runs out, whichever comes first.

Article 11. Classification of debts and handling of risky debts

1. The Social Policy Bank shall classify loans under this Decision according to the provisions of Decision No. 976/QĐ-TTg dated July 1, 2015 of the Prime Minister on the regulation of debt classification at the Social Policy Bank and any amended or replaced documents (if any).

2. The Social Policy Bank shall handle risky debts according to the provisions of Decision No. 50/2010/QĐ-TTg dated July 28, 2010 of the Prime Minister on the mechanism for handling risky debts at the Social Policy Bank, Decision No. 08/2021/QĐ-TTg dated March 11, 2021 of the Prime Minister amending and supplementing some articles of the debt risk handling regulation at the Social Policy Bank issued together with Decision No. 50/2010/QĐ-TTg dated July 28, 2010 of the Prime Minister, and other amended or replaced documents (if any).

The Social Policy Bank shall guide the loan application dossier, procedures, and conditions for lending, repayment terms, repayment amounts, extension of repayment, overdue debt transfer, ensuring simplicity, clarity, ease of implementation, and compliance with legal regulations.

Article 13. Reporting regime

1. Quarterly, annually, and upon completion of the program, the Social Policy Bank shall submit to the Ministry of Finance reports on the results of lending under Appendix I and Appendix II attached to this Decision.

2. Time limit, data closing period, and reporting method:

a) Reporting deadline:

- Quarterly report: Not later than 15 days from the end of the quarter;

- Annual report: Not later than 60 days from the end of the year;

- Program completion report: Not later than 60 days from the end of the program.

b) Data closing time for quarterly and annual reports: The start date for collecting data is the first day of the reported quarter or year; the end date for collecting data is the last day of the reported quarter or year;

c) Data closing period for the program completion report: The data collection start date is the effective date of this Decision; the data collection end date is December 31, 2023 or the date of announcement of the exhaustion of loan capital, whichever comes first.

d) Reporting methods shall be carried out through one of the following methods:

- Submit directly in paper form;

- Sending via postal service in paper form;

- Sending via email systems or specialized information reporting software systems;

- Other methods as prescribed by law.

Article 14. Implementation Organization

1. Borrowers are responsible for using the loan capital for the intended purpose as stipulated in this Decision and repaying the loan fully and on time to the Social Policy Bank.

2. The Social Policy Bank:

a) Issuing the provisions set forth in Article 12 of this Decision;

b) Managing and utilizing the capital, implementing loans to the correct recipients, conditions, and purposes as prescribed in this Decision; reporting to the Ministry of Finance on the results of lending as stipulated in Article 13 of this Decision;

c) Based on the actual implementation situation, one month before the expiration of the maximum loan capital as stipulated in Clause 1 of Article 10 of this Decision, the Social Policy Bank has the responsibility to publicly announce on its electronic portal and headquarters about the expected disbursement end date, while also reporting to the Prime Minister and the Ministry of Finance about the expected disbursement end date;

d) Cooperating with ministries and sectors to report to competent authorities to promptly address difficulties and obstacles during the implementation of lending as stipulated in this Decision.

3. The Ministry of Finance shall take the lead in reporting to the Prime Minister for amending and supplementing this Decision (if necessary).

4. The Ministry of Education and Training, the Ministry of Labor, Invalids and Social Affairs, and relevant agencies: Directing universities, colleges, secondary vocational schools under their management to cooperate with provincial People's Committees and the Social Policy Bank to organize the dissemination and implementation of policies under this Decision.

5. Provincial People's Committees shall direct commune-level People's Committees to review and confirm the beneficiaries and conditions for enjoying the policy as stipulated in Article 3 of this Decision.

6. Relevant agencies shall coordinate based on their assigned functions and tasks to implement this Decision.

Article 15. Handling Violations

Any organization, entity, or individual who takes advantage of the policy stipulated in this Decision for personal gain or violates the law shall be liable to compensate, be subject to disciplinary action, administrative penalties, or criminal prosecution according to the law, depending on the nature and severity of the violation.

Article 16. Implementation Provisions

1. This Decision takes effect from the date of issuance.