Over the past years, Khanh Hoa Provincial Bank for Social Policies together with many local organizations has made loan disbursement to thousands of poor students...
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| A transaction location for the student credit program. |
Over the past years, Khanh Hoa Provincial Bank for Social Policies together with many local organizations has made loan disbursement to thousands of poor students. The effort has helped to meet the education development strategy contributing social security in Khanh Hoa Province.
Truong Thi Thanh Tung, Chief of the Bureau of Credit & Capital Planning, Khanh Hoa Provincial Bank for Social Policies, says there has been much propaganda for the credit program. Many transaction locations have been set up to facilitate the student loan disbursement and collection.
In addition, Khanh Hoa Bank for Social Policies has frequently cooperated with local associations such as Women's Association, Youth's Association, Farmers' Association and Veterans' Association to propagate the preferential program, so that students in need can have access to loans.
The family of Dang Xuan Hung and Ngo Thi Lan (Dien Lam Commune, Dien Khanh District) has benefited from the credit program. The husband says, " We are struggling to make ends meet. We are proud that our children have passed the entrance exam to university.
However, I cannot afford our 4 children's education at university without the financial assistance in the form of loans offered by the Khanh Hoa Bank for Social Policies.
We can get a loan every year, up to VND100 million so far. The support has reduced the financial burden on my family."
In addition, the family of Cao La Linh, Raglai man, in Cau Ba Commune, Khanh Vinh District, is also a beneficiary of the credit program. "Thanks to the program, my two son can continue their schooling at university," he says.
There are many other poor families benefiting from the program. In order to provide loan chances for many other people, loan collection practices have improved.
However, defaulted student loans increase by VND600 million, accounting for 0.4% of the total loan balance compared with 2011.
Truong Thi Thanh Tung says, "We have made effort to reduce the cases of defaulted student loans to provide many other people access to the loans. We strive to decrease to defaulted loan rate in 2012 by 0.2%."
In 2011-2012 school year, VND112 billion was disbursed to 22,000 students. 27,000 students in Khanh Hoa Province has been provided loans worth VND519 billion so far.
N.T
