FIES: check out everything you need to know if you are in debt

The Higher Education Student Financing Fund (FIES) is the way many students manage to stay at universities. It is financial support for those who dream of achieving higher education.

Read more: New project is approved to be applied in schools: Financial Education

FIES is a federal government program. Through the fund, students are able to finance their studies at private universities in Brazil. The amount is only paid at the end of the course, when students are already able to work to pay for university.

Debt with FIES

At a time of so many financial difficulties for Brazilians, with a scenario of high inflation and unemployment, the concern of many students is about the opportunity of work to pay the debt with the FIES.

When this happens, in addition to needing resources to support themselves, students who relied on FIES to graduate have yet another major financial commitment.

By not being able to pay the debt, students default. That's why we've separated some tips for you to know what to do in those situations where you can't afford the FIES payment.

Students can have their name negative in credit protection agencies, such as SPC and Serasa. In addition, in these cases of debts with the FIES, the debts only expire after 12 years.

In addition, the students' CPF is marked as a bad payer, creating several restrictions on access to credit. What can even harm the beginning of professional life. That's why paying off debt is so important.

What many people don't know is that the federal government can handle up to 90% of student debt. It is through the guarantee fund, which can be used by those who are unable to pay the debt.

The fund can be used after 360 days of default. Thus, the fund covers what was provided for in the contract. In these cases, it is important to have the help of a lawyer.

Another way to resolve the debt with FIES is by renegotiating debts with Caixa Econômica, through SisFie. Or also at Banco do Brasil.