Fies: learn about the different rules for negotiating debt

Students who signed a contract with creditor financial institutions for Fies (Student Financing) until the second half of 2017 can apply for debt refinancing. Negotiations can be made at Caixa Econômica Federal and Banco do Brasil.

By law, banks will be required to grant discounts that can vary between 12% and 99% for payment in a single installment. The outstanding balance may be paid in up to 150 installments, depending on the student’s situation. Renegotiation can be requested until December 31, 2022.

According to a resolution published in the Official Gazette, among the rules to settle debts, it is necessary to have installments overdue for more than 90 days on December 30, 2021 and not have joined the previous renegotiation.

According to the FNDE (National Fund for the Development of Education), 1,093,053 Fies contracts are in arrears in the payment of installments. Of this total, 891,355 debtor students meet the conditions required to request renegotiation.

Also according to the FNDE, 780,487 students are up to date with their monthly fees. This group can also participate in the negotiation to settle the outstanding balance for payment in a single installment – ​​with a 12% discount.

At Banco do Brasil, the contracting of discounts and installments is done through the BB App in the Debt Solution menu, option Fies Renegotiation and, then, Renegotiate installments. If necessary, it is possible to go to one of the network agencies.

Through Caixa, trading can be carried out through the Fies Caixa application, available for mobile devices (smartphones and tablets) on Android and iOS systems.

According to Caixa, more than 136 thousand subscriptions have already been made since September 1st – the beginning of the negotiation period. Approximately R$395 million in discounts were granted in just over a week.

Also according to the bank, of the total of renegotiated contracts, 87% were paid in cash, while 13% opted for repayment. The average debt is R$ 38 thousand per contract.

Conditions and requirements

For students with debts overdue for more than 90 days as of December 31

• Cash payment – 12% discount on the outstanding balance and 100% discount on late charges
• payment in installments – possibility of payment in up to 150 installments, with a 100% discount on interest and fines charged for delays

For students with debts overdue for more than 360 days from December 31st

• Cash payment – 77% discount on the consolidated debt amount (including outstanding balance and late fees)
• payment in installments – possibility of payment in up to 15 installments of the outstanding balance, adjusted monthly by the average Selic rate

For students enrolled in CadÚnico and who received Emergency Aid 2021 and who are in default:

Between 1 and 5 years (from the expiration of the last installment of the contract)

• Cash payment – 92% discount on the consolidated debt amount, including outstanding balance and late fees
• payment in installments – possibility of payment in up to 15 installments of the outstanding balance, adjusted monthly by the average Selic rate

more than five years ago (from the expiration of the last installment of the contract)

• Cash payment – 99% discount on the consolidated debt amount (including financing balance and late fees)
• payment in installments – possibility of payment in up to 15 installments of the outstanding balance, adjusted monthly by the average Selic rate

For students outside the grace period and with current funding

• Cash payment – 12% discount on the outstanding balance to settle the contract

What happens if you are late or fail to pay after the agreement is made?

After the Fies refinancing agreement is signed, the delay in the payment of the installments will cause interest on the amount of the installment in arrears and a fine of 2% on the total of the remaining installments.

The person who fails to pay three consecutive installments or five alternating installments of the refinancing will lose the discount granted at the time of agreement on the charges charged – which in some cases can be 100%. According to the resolution, this amount will be reincorporated into the debt balance of the financing.

In the event that the student defaults again after the renegotiation, the names of the student and the guarantor will be registered with the credit restriction agencies.