410,000 Beneficiaries! Student Loan Interest Rate Slashed by 1% to 0.775% – Taiwan Bank Launches Applications from August 1

President Lai Qingde has approved a new population strategy focusing on family support, including 18 key measures. The Ministry of Education will allocate an annual budget of 1.5 billion NT dollars to reduce student loan interest rates by 1 percentage point—from 1.775% to 0.775%. The repayment grace period will be extended from one year to two years. Additionally, the annual subsidy of 35,000 NT dollars for tuition and fees at private colleges and universities will continue. These measures are expected to benefit approximately 410,000 students and households.

In alignment with government policy, Taiwan Bank will officially begin accepting applications for the first semester of the 115th academic year starting August 1. The bank is strongly promoting online loan applications, enabling students to replace physical visits with digital services, significantly improving efficiency and convenience.

To alleviate the financial burden on students and families, the government has introduced multiple education and support initiatives. The Ministry of Education will invest 1.5 billion NT dollars annually to reduce student loan interest rates by 1%, extend the repayment grace period from one to two years, and lower the interest rate from 1.775% to 0.775%. Combined with the annual 35,000 NT dollar subsidy for tuition at private institutions, these measures aim to lower barriers to higher education.

The application period for the first semester of the 115th academic year runs from August 1 to September 30, 115. Taiwan Bank is actively supporting government policy by encouraging continuing students in the same academic program to apply online. Borrowers can use a computer or smartphone, authenticate their identity via chip financial card or SMS OTP, and complete the loan guarantee process quickly—without visiting a branch, queuing, or submitting paper documents. Online loan processing fees are waived. First-time applicants or those with special circumstances must still apply in person.

To further streamline the application process and eliminate the need for borrowers to travel between banks and household registration offices, Taiwan Bank has partnered with the Ministry of Digital Affairs’ MyData personal data platform. Borrowers can apply online for full household registration documents and low-income household certificates, avoiding the cumbersome process of preparing paper documents. The Ministry of Education has highly praised this user-friendly initiative and urged schools at all levels to actively participate, enabling more students to access efficient and convenient financial services. Detailed application information is available on Taiwan Bank’s student loan portal or at local branches.