Source-based loans to finance students in need to complete their studies are an important way of alleviating economic stress. However, some of the students who graduated might face a temporary debt overhang and could choose to apply for a deferred repayment. How, then, is it possible to request an extension of payment? Together, we have key information on the extension of the student loan。

How do you apply for the extension of the student loan

First of all, we would like to know the circumstances under which an extension of repayment can be requested. The conditions for extension include, inter alia: exposure to force majeure, such as natural disasters, serious diseases, etc.; significant changes to the family, such as sentencing or inability to continue contributing for economic reasons; inability to work in a timely manner after graduation or to fulfil social obligations; and a decline in the financial situation of the student or his or her family, such as unemployment or incapacity to work。

Next, let's talk about what material is needed to request an extension. The first is an application for an extension of repayment, the second is material to be used to prove the cause, such as a case, a judgement, etc. In addition, a relevant certificate from the person or guarantor, such as a certificate of income, is required。

In conclusion, we would like to understand the process of deferred repayments. First, students are on the online system to apply and, of course, to go to the bank to apply online. It then chooses the type of loan, whether it is from the source or from the tertiary level. It was then entered into the deferred repayment block, operated on a system alert, for contract confirmation of the extension request. An extension request can be submitted provided that the contract information is confirmed to be correct. The application is then automatically filtered through the system and is effective on the same day. Finally, the status of the application can also be viewed on the extension plate。