The national student loan interest rate is calculated based on the benchmark loan interest rate announced by the People's Bank of China for the same period. This interest rate is not affected by local policies, that is, the interest rate will not rise.

Interest starts accruing after the student graduates.

Graduates only need to repay interest for 111 days (September 1st - December 20th) in the first year of graduation.

The interest calculation formula is: interest = total loan amount * annual interest rate *?111/360. The annual interest rate of student loans in 2018 is 4.9%.

You need to repay one year's interest in the second year of graduation (from December 21 of the year of graduation to December 20 of the second year of graduation).

Interest = total loan amount * annual interest rate * 365/360. The annual interest rate for student loans in 2018 is 4.9%.

The interest payable in the third year of graduation is exactly the same as that in the second year of graduation.

From the fourth year of graduation until the student loan is paid off: one year's interest on the loan balance is payable every year.

Interest = loan balance * annual interest rate * 365/?360.

The interest incurred while studying is borne by the state, and students who take out loans will bear the interest after graduation.

For the same student loan, the annual interest rate may be different each year after the repayment begins, which is determined by national policies. Students with loans should pay attention to relevant announcements from the China Development Bank or the Student Financial Aid Management Center of the County Education Bureau.

Expanded information National student loans 1. Application conditions Full-time undergraduates (including vocational students), second bachelor's degree students and graduate students in ordinary colleges and universities can apply for national student loans if they meet the following conditions: (1) The family has financial difficulties;

(2) Those who have the nationality of the People’s Republic of China and are over 16 years old must hold a resident identity card of the People’s Republic of China; (3) Have full capacity for civil conduct (minors must apply for national student loans)

(With the written consent of his/her legal guardian); (4) Be honest and trustworthy, abide by the law, and have no illegal or disciplinary violations; (5) Study hard and be able to complete his studies normally.

2. Application materials Students should submit a loan application to the bank through the school after the start of the new school year.

The following materials are required: (1) National student loan application form; (2) Copies of my student ID card and resident ID card (minors must provide valid proof of identity of their legal guardian and proof of written consent to apply for a loan); (3)

My own explanation of the family’s financial difficulties; (4) A certificate of family financial difficulties issued by the relevant department where the student’s family is located.

3. In principle, the application amount for full-time undergraduate students should not exceed 8,000 yuan per person per academic year, and for full-time graduate students should not exceed 12,000 yuan per person per academic year.