Can Tho has started disbursing preferential loans to students in STEM fields

On the morning of September 4, the Cai Rang Transaction Office of VBSP (Can Tho City) began disbursing loans under Decision No. 29/2025/QĐ-TTg dated August 28, 2025, of the Prime Minister on credit for students, master’s students, and doctoral candidates in science, technology, engineering, and mathematics (STEM) fields.

The maximum loan amount for STEM students and master’s students is USD 200 per month, with an interest rate of 4.8% per year

The Cai Rang Transaction Office is one of the first units in the country to implement preferential credit loans for customers studying in STEM fields. At the transaction point, credit officers completed the procedures and disbursed loans to three students (enrolled in STEM majors at universities in Can Tho City), with their parents as the borrowers, for a total amount of USD 7,200 (an average of USD 2,400 per student).

Mai Hai Nam, a third-year student at Can Tho College of Economics and Technology, was delighted to receive a preferential loan of USD 2,400

Accompanied by his mother to receive the loan disbursement this morning, Mai Hai Nam (a third-year student at Can Tho College of Economics and Technology) happily shared that he was granted a loan of USD 2,400 to pay tuition fees and cover living expenses for the new school year.

Nam once dreamed of studying at a university, but due to his family’s financial difficulties and inability to afford tuition, he chose the path of attending college to ease the burden on his parents. During his two years in college, his family had already took preferential loan from VBSP for his studies. However, the loan amount was only USD 1,600 per year with an interest rate of 6.6% per year.

“With a higher loan amount and a lower interest rate (4.8% per year), this loan helps my parents worry less about finding money for my education. It also allows me to stop working part-time and fully concentrate on my final year of college. Most importantly, with this support from preferential credit, I feel more confident and determined to pursue a university degree”, Nam shared.

According to Ms. Trinh Bich Tuyen, Deputy Director of the VBSP Can Tho Branch: Based on reports from its transaction offices, in 2025 the branch plans to disburse loans to about 107 students and master’s students in STEM fields, with a total planned disbursement of nearly USD 320,000.

Under Decision No. 29/2025/QĐ-TTg of the Government, the maximum loan amount includes: full tuition fees, living expenses, and other study-related costs up to USD 200 per month, with an interest rate of 4.8% per year. The repayment period begins after graduation, and repayment installments are decided by VBSP.

For loan amounts up to USD 20,000 per student, no collateral is required. For loans exceeding USD 20,000 per student, collateral must be provided in accordance with the law. Borrowers pay interest through the Savings and Credit Group (in cases where loans are taken through households); principal repayments are made in cash at the transaction point on a fixed monthly date or by transfer/cash payment directly at VBSP.

To disseminate this new preferential credit policy widely, VBSP Can Tho Branch has actively promoted it through communication channels, newspapers, social media, Savings and Credit Groups, and mass organizations. At the same time, it promptly identified households with children studying in STEM fields to ensure timely policy implementation.

A credit officer of the Cai Rang Transaction Office (VBSP) handed over the loan to the parent of a student under Decision No. 29/2025/QĐ-TTg dated August 28, 2025, of the Prime Minister

In addition to helping students feel secure in their studies, the credit program under Decision No. 29/2025/QĐ-TTg also supports the training of STEM human resources, serving local socio-economic development, while contributing to the successful implementation of Resolution No. 57-NQ/TW on breakthroughs in science, technology, innovation, and national digital transformation.

In recent years, Can Tho City has implemented a student loan program for disadvantaged students under Decision No. 157/2007 of the Prime Minister. Currently, the total outstanding loans of VBSP Can Tho Branch amount to about USD 40.8 million (accounting for 6.3% of the branch’s total outstanding loans), with more than 17,000 active borrowers.

The preferential credit program has significantly reduced the financial burden for many disadvantaged households, giving their children the opportunity to study, acquire skills, build careers, support their families, and succeed, thereby contributing to socio-economic development. The program has achieved its core goal of ensuring that no student has to drop out of school due to an inability to pay tuition fees.

Thu Hien/TTXVN