The FIES works as a financing for higher education studies for students who cannot afford the monthly fees. Thus, the program enabled thousands of young people and adults to enter universities across the country. However, as the course fees are expensive, many were unable to pay their debts after graduation.
Therefore, at the end of 2021, President Jair Bolsonaro signed a Provisional Measure that established the criteria for renegotiation of FIES debts. Thus, those who graduated up to 2017 with late payments between 90 and 360 days can negotiate debts from March 7th.
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Read more: What is the maximum income to participate in FIES 2022?
How will the renegotiation of FIES debts work?
Debt settlement proposals will be available from Banco do Brasil and Caixa Econômica Federal. As a result, many students will be able to remove their names from restrictive registrations, as long as they are able to pay the amount indicated at the time of negotiation.
This amount will refer to the first installment, and the installment will have a number of other payments with a minimum amount of R$ 200.00. Also, know that before the 7th you can simulate how the payment would look like, number of installments and down payment.
To check all this information and do your simulation, access the FIES website and fill in the correct data. That way, you can see what proposals are being offered to you at that moment.
Installment in up to 150 months
The measure enables a series of benefits and facilities that encourage the student to pay off the debt. Thus, in addition to the 92% chance of renegotiating FIES debts, there is also the option of installments in up to 150 months and a 100% interest reduction.
In addition, President Jair Bolsonaro's Provisional Measure came after statements by presidential candidate Luiz Inácio Lula da Silva, who said he intended to amnesty debts. However, Bolsonaro presents the proposal as his own and that the information would have been leaked to Lula.
