President Jair Bolsonaro issued a Provisional Measure (MP) that allows students to renegotiate debts with the Financing Fund for Higher Education Students (Fies). According to the federal government, students will be able to contemplate a discount from up to 92% on the outstanding balance.
The MP guarantees the settlement of overdue and unpaid debts by students who have formalized the contracting of Fies by the 2nd semester of 2017. Through it, they can receive a full discount on late payment charges and installments within 150 months.
“The legislative change comprises a series of benefits with specific motivation in order to reduce the Program’s default rates and combat the devastating effects of the Covid-19 pandemic”, informs the federal government.
It is noteworthy that Fies is a modality in which students attend higher education with a part of the tuition fee financed, up to a limit of 92%. This unpaid amount will only be paid after the formation of the person who hired the program.
To ensure debt renegotiation, debts must be in a situation where they have not been paid for more than three hundred and sixty days and are fully provisioned; or overdue, unpaid for more than ninety days, and partially provisioned.
According to a survey carried out by CNN Brasil, MP can benefit just over a million people. This is the total number of defaulters with the program in Brazil, which have a balance of arrears added to approximately R$ 6.7 billion.
The federal government stated that the renegotiation of debts will work through adhesion, through the service channels that will be made available by financial agents.
The Ministry of Education (MEC) informed that the provisional measure enters into force on the date of its publication.
Reference: CNN Brasil
