Are student loans paid directly to the card?
The funds obtained when applying for student loans are not directly transferred to the school's account. Instead, they are first transferred to the Alipay account generated when the student applied for the loan, and then transferred to the school account.
After a student successfully applies for a student loan, as long as he gives the receipt to the school, the school will enter the student loan information based on the receipt code, and then deduct the corresponding amount of tuition and accommodation fees.
There are four main forms of national student loans: national student loans; credit-based student loans from the student’s place of origin; interest-free loans provided by colleges and universities using state financial funds for students; and general commercial student loans. Among them, national student loans have the largest funding intensity and scale and are the main content of student loans.
Generally speaking, students from poor families need to apply for national student loans from local banks through the schools they attend. In principle, students apply once and banks issue national student loans in installments while they are in school.
Relevant departments of the school are responsible for reviewing the qualifications of national student loan applications submitted by students and verifying the authenticity and completeness of materials submitted by students; banks are responsible for final approval of students' loan applications.
Repayment method: before students graduate, repay it in one lump sum or in installments; after students graduate, they can use their available funds to repay the loan; after the graduates’ internship period expires, the loan will be repaid by their employer within two to five years. The repayment will be deducted from their wages monthly; the unit where the graduates work will decide to exempt or exempt the advanced loan based on their work performance; students who have taken loans will be expelled from school or ordered to drop out of school for violating national laws and school disciplines. Or if a student voluntarily withdraws from school, the student's parents shall be responsible for repaying all loans.
Students who borrow money should confirm their student loan repayment plan with their bank when going through graduation procedures. Within one year after graduation, you can submit an application to the bank to adjust the repayment plan. Student loan principal and interest repayments can be taken in a variety of ways, and the loan can be paid off in advance one time or multiple times. If a college student chooses to repay the loan early, the handling bank shall not charge any additional fees other than the interest payable.
The term of credit-based student loans for students in their place of origin is in principle determined based on the full-time undergraduate program plus 10 years, with a maximum of 14 years. If the schooling lasts for more than 4 years or if students continue to study for a postgraduate degree or a second bachelor's degree, the loan repayment period after graduation will be shortened accordingly. The grace period is the period during which the student is in school and two years after graduation. After the grace period, the student and his or her parents (or other legal guardians) will repay the loan principal and interest in annual installments as agreed in the loan contract.
Are Bank of China’s national student loans directly credited to the card? Can the money be withdrawn?
National student loan issuance:
1. The handling bank shall issue the full amount of the loan for the first academic year to the student within 20 working days after the loan contract is signed and completed. Transfer the loan to the account designated by the university; for the loan for the second academic year and subsequent academic years, the handling bank shall transfer the full amount of the current year's loan to Enter the account designated by the university.
2. The handling bank can learn from the university about the loan issuance by the university and the use of the loan by the borrowing students.
The above content is for your reference, please refer to actual business regulations.
If you have any questions, please feel free to consult Bank of China’s online customer service.
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Should the student loan be paid to the school or to the bank card?
Legal analysis: Student loans from the student’s place of origin do not go directly to the school. Student loans from the student's place of origin are usually paid to the student himself. When the student signs the contract when applying for a student loan, there will be an assigned Alipay account. The loan is disbursed directly to this Alipay account, and then the school passes the system through the system. Debit from Alipay account. After a student successfully applies for a student loan, he or she will submit the receipt to the school, and the school will enter the student loan information based on the receipt code, and then deduct the corresponding amount of tuition and accommodation fees.
Legal basis: "Law of the People's Republic of China on the Promotion of Private Education" Article 46 People's governments at or above the county level may adopt measures to purchase services, student loans, scholarships and bursaries, as well as leasing and transferring Idle state-owned assets and other measures can be used to support private schools; non-profit private schools can also be supported by government subsidies, fund rewards, donation incentives and other support measures.
Not everyone can apply for a student loan. Should the student loan be paid to the school or to my own card?
Not everyone can apply for a student loan. Should the student loan be paid to the school or to my own card?
Student loans are used to pay students’ tuition, accommodation and living expenses during college. Therefore, generally speaking, the transfer steps are as follows:
1. Tuition and accommodation Fees are credited to the school's account; loans for living expenses are credited to the borrowing student's own card.
2. First transfer tuition fees and accommodation fees to the school, and the remaining loan assets will continue to be transferred to the students themselves to make up for the shortfall in living expenses.