The new rules are already in effect for contracts signed in the first half of 2018. The changes refer to the deadline for payment of the outstanding balance, interest rate and income range for those interested in the financing.
Interest rate: 100,000 vacancies were offered at zero interest to underprivileged students. The others will have interest variation according to the bank that closes the financing. Currently, the rate is fixed at 6.5% per annum. Theoretically, fees should be lower than those currently practiced, enabling 100% financing of the course.
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End of grace period: there is no longer an 18-month grace period for the student to start paying the loan after completing the course. Now, he must start paying in the first month after graduation. The maximum term is 14 years, with discounts directly from the employee's salary.
Modalities: now, Fies has modalities aimed at students with an income of up to five minimum wages. Now there are three modes. The first, offering 100,000 vacancies at zero interest; the second, for students with income of up to five minimum wages per capita; and, the third, assisting students through the BNDES.
Payment of late installments: created the Special Program for the Regularization of Fies, aimed at those who are in arrears with their installments. Installments due by 04/30/2017 can be paid by down payment of 20% and balance in up to 175 installments.
FG-Fies: the Fies Guarantee Fund (FG-Fies) was changed. From now on, participating colleges will have mandatory membership, guaranteeing credit for financing.
