New policies on student loans in Taiwan

At the Sept. 1st, the Ministry of Education relaxed the conditions of suspension in order to ease the pressure on the borrowers families.

In the past, there was only one year's grace period for non-payment of principal and interest. Now the new system is on the road and students can apply for an extension of 4 years. The lender will bear 1.15% interest, the government will bear 0.95%, and about 500000 people will be assessed.

According to the Ministry of Education, more than 500,000 students in Taiwan are currently repaying their loans. According to the current "Key Points for Student Loan Operations", students who have loaned loans enjoy a one-year grace period and can start paying interest and principal repayments on the following day after graduation or retirement.

Recently, the Ministry of Education has revised the new system. Loans can apply for grace period and interest payment period. The first year after graduation is grace period, and the interest will not be repaid at all.

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