Let's talk about seed loans, that is, loans that many people make to finish their university studies. In particular, let us be clear about the timing of repayments, which is very important for borrowers. Once your college career is over, you'll have to start paying off the loan。

When does the student loan start paying back

However, if you are able and willing to repay the loan in advance, that is perfectly possible. You may choose to pay in advance or on time, as follows:

First, if you choose to pay back in advance, an application must be made on the tenth day of each month prior to graduation, and then on the twentieth day of that month you will deposit the principal and interest due to you in full, or directly to the Student Support Management Centre。

Secondly, if you choose to pay back on time, you will have to repay interest on the first year of the loan by 20 December of the year of graduation. By 20 December of the second year after graduation, you will have to start paying your principal on a monthly basis. In the last year of this loan, the last year of your studies, all remaining loans must be repaid by 20 September。

Some borrowers might ask if they could clear the loan in advance. The answer is yes. Every year between January and October, you can submit an advance reimbursement request. One-time payment of all outstanding obligations under one contract. Only by the tenth day of the month will new applications be made in the bank ' s sourced loan system or submitted to the local county support centre, and the full funds will be deposited in the corresponding bank account by the fifteenth day of the month. That way, you'll be able to pay your loan in advance。