The Covid-19 pandemic imposes a far-reaching impact on society as a whole, including the decline in the income of many families. This greatly affects the financial resources of families, reducing the opportunities to attend higher education of many students.

In that context, VNU University of Economics and Business (VNU-UEB) and Vietnam Investment and Development Joint Stock Bank (BIDV) have jointly built the products to support student during their study. Accordingly, VNU-UEB’s students will have access to the "Building the future" Support Fund including a loan package for students to pay their tuition fee valued up to VND 50 billion and the scholarship for loan interest of VND 80 million per year. The BIDV My Dinh will be the branch to implement this activity.

 

The signing ceremony of cooperation between the UEB and BIDV My Dinh Branch

The financial solutions in education

The "Building the Future" supports fund is a special financial source for students of the UEB and their families.

According to the agreement, undergraduate students enrolled in the regular and joint training programs, earning the academic results of Good or higher will have access to this loan, which will pay all of their tuition fees during university.

Moreover, the first-year students with preferential entry and who scored the average from 8.6 points/subject in the high school graduation exam will also subject to the loan.

UEB’s students will be entitled to a maximum loan amount of 100% tuition fees following the provisions detailed in the MOU. The interest rate with most favorable condition will be available to students (the loan interest rate equal to BIDV's 12-month deposit interest rate plus a margin of 0.5% per year). Thus, with BIDV's current 12-month deposit interest rate of 5.5% per year, the interest rate for UEB’s students will be 6.0% per year, much lower than the current lending interest rate of the market. Moreover, they also have the opportunity to receive scholarships equal to 100% loan interest and loan insurance.

 

At the signing ceremony on August 20^th, 2021, Assoc.Prof. Nguyen Manh Tuân - Vice Rector of VNU University of Economics and Business emphasized: "This MOU lay the foundation for fruitful cooperation between the UEB and BIDV. The loan and scholarship will have greatly positive impact for students and their families, release them from financial constraints, or enable the students to join domestic and international student exchange."

Social responsibility, national responsibility in giving students the opportunity to access financial support

Assoc.Prof. Nguyen Truc Le - Rector of VNU University of Economics and Business said at the signing ceremony: "We - who work in education always hope that the young generation of Vietnam has access to advanced learning environment, opportunities to expand knowledge and exchange internationally because they are the generation of global citizens - the future of the country. This is also the development orientation of the VNU University of Economics and Business over the years.”

 

First, we focus on improving the quality of training and expanding services of international standard. Then, we are constantly looking for financial support for students and their families to give them the opportunity to develop the independent mindset and take responsibility for their own learning costs. And on this journey, the UEB and BIDV will accompany the students, the generation of global citizens, a generation who will actively create future."

 

Ms. Le Thi Mai Phuong - Deputy Director of BIDV My Dinh Branch highly appreciated the cooperation between the UEB and BIDV

Speaking at the ceremony, Ms. Le Thi Mai Phuong - Deputy Director of My Dinh Branch, Vietnam Investment and Development Joint Stock Bank said: "As one of the pioneering banks to implement this meaningful products to support organizations and students, we wish to join hands with the University to support students with financial issues, help them fulfill their university dreams and future career, especially in the situation of COVID-19 which is affecting many families and many students."

Here are some photos of the signing ceremony between the UEB and BIDV: