icetex may make discounts on capital and not only on default interest, as it currently works.
This means that the entity was given the green light on this thanks to the National Development Planalready approved by the Congressand which only lacks the presidential sanction to be Law of the Republic.
(What will the $1.3 trillion extra that education will have be invested in).
This included a rescue plan that, for the first time in history, will deliver certain types of benefits for people who have credits with the entity. This strategy, as explained Mauricio Toro, President of Icetexfor ‘Bloomberg’ “It would make it possible to do what until now cannot be done, which is to make discounts on capital. Today we can only make discounts on default interest to make payment agreements”.
Similarly, he added that “This is the rescue plan that is looking for an enabler so that Icetex can then regulate the conditions through which it can, first of all, give a discount on the capital of the debt”.
He also mentioned that it will help”Also, for example, people who are in a bad debt situation and we can help them with a partial capital discount to normalize their debt and with that they can continue their studies and their life plan.”.
(The 7 axes of education that are sought to be strengthened with the PND).
This strategy will have to be regulated by the Board of Directors of the credit entity and will be subject to the availability of resources of the entity and the National Government. Additionally, the Development Plan establishes more measures.
Partial compensation for CPI impact
Icetex will also have the possibility of making partial compensation for the Consumer Price Index (CPI) which composes the interest rate of educational credit, in order to mitigate the negative impact of inflation that is in double digits.
(Forgiveness and relief, what was approved by the PND for Icetex).
This measure is focused on those Colombians who have credit lines with a subsidized rate or with greater socioeconomic vulnerability, which will be subject to the available resources of the entity.
The balances of the checking or savings accounts that are inactive for more than a year and that do not exceed the value of 322 UVR They will be administered by Icetex in order to finance support in the life projects of young people, that is, in their access to higher education, as well as forgiveness and graduation of the beneficiaries.
(2023 income statement: discounts to which you can apply).
Given the case in which the holder of the deposit makes a request for the activation or cancellation of the inactive balance before Icetex, This will have to repay the lender the corresponding sum with the respective yields.
Credit payment scheme
“The PND will also strengthen the implementation of the Payment contingent upon income for new credit beneficiaries, with which people who voluntarily access this scheme will be able to pay their credit according to a percentage of their income, as long as the person receives this salary and it is greater than a current minimum wage”, clarifies the Icetex.
(The PND items that could hit your pocket).
The implementation of this new mechanism will be strengthened with resources from the National General Budgetcontributions from public entities, entities and companies that are decentralized, industrial or commercial companies of the State, mixed economy companies and entities that are of a special nature.
In the same way, international cooperation resources and those allocated by territorial entities, donations from the public and private sectors and the credit institution’s own resources may be used.
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