Policy loans help students pursue their educational dreams

Preferential policy loans are helping many families cover their children's education expenses, ease financial pressure and pursue their educational aspirations with greater confidence. In particular, a lending program for students pursuing STEM fields, comprising science, technology, engineering and mathematics, is expanding access to education in disciplines that are vital to developing a highly skilled workforce.

The Vietnam Bank for Social Policies (VBSP) continues to play a key role in providing financial support to eligible families through its student loan program. Preferential loans help cover tuition, living expenses and accommodation costs, enabling students to focus on their studies, develop their abilities and gradually build a future.

Residents at the Xuan Dong transaction point receive instructions on how to use the VBSP SMARTBANKING app after obtaining student loans. Photo: Duy Tan

Easing financial pressure and keeping educational dreams alive

At the Cam My Transaction Office of VBSP, implementation of the program is accompanied by communication, consultation and guidance to help residents access the policy at the grassroots level.

Vo Van Song, Director of the Cam My Transaction Office of VBSP, said the office proactively coordinates with high schools to provide information to students, particularly those in Grade 12. It organizes meetings, exchanges and direct consultations to ensure that students and their parents understand the program. Locally, heads of savings and credit groups also actively visit households with children in Grade 12 or recent high school graduates to explain eligibility requirements, application procedures and the benefits available under the program.

According to Song, providing information early gives families more time to learn about the policy, prepare documents and develop financial plans before their children begin university or college. It is also an important measure to prevent parents from seeking information only when tuition payments are due.

Vo Van Song, Director of the Cam My Transaction Office of VBSP, attends a coordination meeting with entrusted socio-political organizations and savings and credit groups at the Xuan Dong Commune transaction point. Photo: Duy Tan

Expanding educational opportunities for STEM students

Alongside the general student loan program, the Cam My Transaction Office of VBSP is stepping up communication about loans for students pursuing STEM disciplines.

As science, technology and innovation become increasingly important, supporting learners in these fields offers practical benefits for individual families while helping develop a workforce capable of meeting future development needs.

Implementation on the ground has shown that the STEM student loan program has begun to reach local residents in need of financial assistance. This is an encouraging sign and provides a foundation for the bank to expand consultations and bring the policy closer to students who have the ability and desire to study science, technology, engineering and mathematics.

As of October 12, the Cam My Transaction Office of VBSP had provided loans to 847 students, with total outstanding loans exceeding VND65.5 billion. Seven households had borrowed under the STEM student loan program, with total outstanding loans of VND716 million.

To maximize the program's effectiveness, information must be provided early, particularly when students are choosing their fields of study and completing enrollment procedures. With a clear understanding of the policy, families can better assess educational opportunities that match students' abilities and interests as well as their household financial circumstances.

Accordingly, the Cam My Transaction Office of VBSP continues to coordinate with commune-level People's Committees, socio-political organizations entrusted with loan-related activities, and savings and credit groups to communicate eligibility requirements and guide residents through application procedures at the grassroots level. Families whose children have received admission notices or are preparing to enroll are encouraged to contact the bank proactively for advice rather than waiting until tuition deadlines approach to begin the application process.

“Our approach is to make it as convenient as possible for residents to access the program within the regulatory framework, ensuring that loans reach the right beneficiaries, meet their actual needs and are provided in a timely manner,” Vo Van Song emphasized.

From improving communication to helping families complete applications, every measure is aimed at making policy loans more accessible. Close coordination among the bank, local authorities, schools and entrusted organizations also helps improve implementation. By easing financial barriers, the program gives students more opportunities to continue their education, develop their skills and realize their potential.

By Viet Cuong, Duy Tan – Translated by Mai Nga, Minho