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Students can request the renegotiation of Fies debts from this Thursday

Beneficiaries of the Student Financing Fund (Fies) can request the renegotiation of debts as of this Thursday (1st). Requests must be made to the financial agents of Fies, Caixa and Banco do Brasil, until December 31st.

Renegotiation requests will be made digitally. At Banco do Brasil, the request must be made through the bank’s application, by clicking on “debt solutions”. While at Caixa, the order can be sent through the new application “Fies Caixa”, launched this week, or in site.

After payment of the down payment, the beneficiaries and their guarantors are removed from the restrictive credit registers.

The renegotiation is valid only for contracts signed until the end of 2017 and that were in the amortization phase on December 30, 2021, the date on which the provisional measure (MP) that defined the initial criteria of the process was published.

During the proceedings in Congress and conversion into law, the MP underwent some changes, especially in the discount percentages and in the term for installments of the remaining balance. Because of this, the renegotiation needed a new regulation, published in the Official Gazette on July 22.

understand what changes

From now on, contracts that were more than 360 days late in payment on the date of publication of the provisional measure will have new discount percentages.

For students who fit this condition and who are enrolled in CadÚnico or have been beneficiaries of Emergency Aid 2021, discounts can reach 99% of the consolidated debt amount, including interest and fines.

For the other cases, also with more than 360 days of default, discounts reach the level of 77% of the total. In both situations, payment can be made in cash or in 15-month installments.

For those who are compliant with the program, it is possible to pay off the debt in advance. Anyone wishing to amortize the remaining balance in one go will be entitled to a 12% discount on the principal amount.

According to the Ministry of Education (MEC), the principal amount of the debt can be paid in up to 150 installments, with exemption from interest and fines, or a 12% discount for cash payment. See below the main renegotiation criteria.

For contracts with a payment delay of more than 360 days:

  • 99% discount on the consolidated debt amount, including interest and fines, for those enrolled in CadÚnico or who have received emergency aid in 2021, whose date of the last installment provided for in the contract is overdue for more than five years. Remaining balance can be amortized in 15 successive monthly installments
  • 92% discount on the consolidated debt amount, for those enrolled in CadÚnico or who received emergency aid in 2021. Remaining balance can also be amortized in 15 installments
  • 77% discount on the consolidated debt amount in other cases. Balance can also be amortized over 15 months

For contracts overdue between 90 and 360 days:

  • 12% discount on the principal amount of the debt and 100% reduction in interest and fines, for cash payment
  • Possibility of installment of the principal amount of the debt in up to 150 months, with exemption of interest and fines

For students who are compliant with Fies:

  • 12% discount on the consolidated debt amount, for cash payment

Source: CNN Brasil

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